Savant Capital LLC Makes New $146,000 Investment in ProAssurance Co. (NYSE:PRA)

Savant Capital LLC bought a new position in ProAssurance Co. (NYSE:PRA) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 10,619 shares of the insurance provider’s stock, valued at approximately $146,000.

Several other institutional investors and hedge funds have also bought and sold shares of PRA. Assenagon Asset Management S.A. purchased a new stake in ProAssurance in the 4th quarter worth approximately $2,383,000. Brandywine Global Investment Management LLC purchased a new stake in ProAssurance in the 3rd quarter worth approximately $2,988,000. Jacobs Levy Equity Management Inc. lifted its stake in ProAssurance by 25.2% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 548,525 shares of the insurance provider’s stock worth $10,362,000 after purchasing an additional 110,562 shares in the last quarter. State of New Jersey Common Pension Fund D lifted its stake in ProAssurance by 38.5% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 195,508 shares of the insurance provider’s stock worth $2,696,000 after purchasing an additional 54,356 shares in the last quarter. Finally, Illinois Municipal Retirement Fund purchased a new stake in ProAssurance in the 3rd quarter worth approximately $583,000. 85.58% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PRA has been the topic of a number of analyst reports. JMP Securities reiterated a “market outperform” rating and issued a $22.00 target price on shares of ProAssurance in a research report on Monday, April 15th. Truist Financial decreased their target price on shares of ProAssurance from $15.00 to $14.00 and set a “hold” rating on the stock in a research report on Thursday, February 29th. Finally, Piper Sandler cut their price target on shares of ProAssurance from $16.00 to $15.00 and set an “overweight” rating on the stock in a report on Monday, March 4th. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.00.

ProAssurance Price Performance

Shares of ProAssurance stock opened at $15.17 on Wednesday. The firm has a market cap of $773.20 million, a PE ratio of -20.50 and a beta of 0.21. ProAssurance Co. has a 12-month low of $11.76 and a 12-month high of $19.38. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.38. The company’s fifty day simple moving average is $12.89 and its two-hundred day simple moving average is $13.51.

ProAssurance (NYSE:PRA) last announced its quarterly earnings results on Monday, May 6th. The insurance provider reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.04. The business had revenue of $284.97 million for the quarter, compared to analyst estimates of $233.62 million. ProAssurance had a negative net margin of 3.39% and a negative return on equity of 0.53%. The company’s revenue was up 4.5% on a year-over-year basis. During the same quarter last year, the firm earned ($0.15) EPS. As a group, equities analysts expect that ProAssurance Co. will post 0.26 EPS for the current year.

About ProAssurance

ProAssurance Corporation, through its subsidiaries, provides property and casualty insurance, and reinsurance products in the United States. The company operates through Specialty Property and Casualty, Workers' Compensation Insurance, and Segregated Portfolio Cell Reinsurance segments. It offers professional liability insurance to healthcare providers and institutions, and attorneys and their firms; medical technology liability insurance to medical technology and life sciences companies; and custom alternative risk solutions, including assumed reinsurance, loss portfolio transfers, and captive cell programs for healthcare professional liability insureds.