American Century Companies Inc. Acquires 57,556 Shares of ProAssurance Co. (NYSE:PRA)

American Century Companies Inc. raised its holdings in ProAssurance Co. (NYSE:PRA) by 17.2% during the 4th quarter, HoldingsChannel.com reports. The fund owned 391,609 shares of the insurance provider’s stock after acquiring an additional 57,556 shares during the quarter. American Century Companies Inc.’s holdings in ProAssurance were worth $6,230,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Wealthfront Advisers LLC bought a new stake in ProAssurance during the fourth quarter valued at approximately $359,000. Barclays PLC grew its position in ProAssurance by 307.5% in the third quarter. Barclays PLC now owns 85,117 shares of the insurance provider’s stock worth $1,280,000 after acquiring an additional 64,228 shares in the last quarter. State Street Corp increased its stake in ProAssurance by 1.8% in the third quarter. State Street Corp now owns 1,968,754 shares of the insurance provider’s stock valued at $29,610,000 after acquiring an additional 34,247 shares during the last quarter. Amundi raised its position in ProAssurance by 182.3% during the fourth quarter. Amundi now owns 25,634 shares of the insurance provider’s stock valued at $389,000 after purchasing an additional 16,552 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in ProAssurance by 34.8% during the third quarter. JPMorgan Chase & Co. now owns 253,175 shares of the insurance provider’s stock worth $3,808,000 after purchasing an additional 65,325 shares during the last quarter. Hedge funds and other institutional investors own 85.58% of the company’s stock.

Wall Street Analyst Weigh In

PRA has been the topic of several recent research reports. Citizens Jmp lowered ProAssurance from an “outperform” rating to a “market perform” rating in a research report on Thursday. StockNews.com began coverage on shares of ProAssurance in a research note on Tuesday. They set a “hold” rating on the stock. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, ProAssurance currently has a consensus rating of “Hold” and a consensus target price of $18.67.

ProAssurance Trading Down 0.4 %

NYSE PRA opened at $23.26 on Friday. The firm has a market cap of $1.19 billion, a PE ratio of 28.02 and a beta of 0.21. ProAssurance Co. has a 1-year low of $10.76 and a 1-year high of $23.43. The stock has a 50-day moving average of $17.07 and a 200-day moving average of $16.10. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.35.

ProAssurance (NYSE:PRA) last announced its quarterly earnings data on Monday, February 24th. The insurance provider reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.19. ProAssurance had a return on equity of 2.65% and a net margin of 3.71%. The firm had revenue of $287.52 million during the quarter, compared to the consensus estimate of $274.56 million. As a group, sell-side analysts forecast that ProAssurance Co. will post 0.8 EPS for the current year.

ProAssurance Profile

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.