ProAssurance Co. (PRA) Holdings Boosted by Rhumbline Advisers
Rhumbline Advisers lifted its stake in shares of ProAssurance Co. (NYSE:PRA) by 23.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 135,608 shares of the insurance provider’s stock after purchasing an additional 25,890 shares during the period. Rhumbline Advisers’ holdings in ProAssurance were worth $7,750,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in the company. JPMorgan Chase & Co. lifted its position in shares of ProAssurance by 1.1% during the third quarter. JPMorgan Chase & Co. now owns 2,142,632 shares of the insurance provider’s stock worth $116,988,000 after purchasing an additional 24,219 shares in the last quarter. TimesSquare Capital Management LLC lifted its position in shares of ProAssurance by 1.3% during the third quarter. TimesSquare Capital Management LLC now owns 2,037,585 shares of the insurance provider’s stock worth $111,354,000 after purchasing an additional 25,905 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in ProAssurance by 6.3% in the fourth quarter. Victory Capital Management Inc. now owns 1,563,210 shares of the insurance provider’s stock valued at $89,338,000 after buying an additional 93,160 shares during the period. Wells Fargo & Company MN lifted its holdings in ProAssurance by 10.7% in the third quarter. Wells Fargo & Company MN now owns 1,313,376 shares of the insurance provider’s stock valued at $71,777,000 after buying an additional 127,382 shares during the period. Finally, American Century Companies Inc. lifted its holdings in ProAssurance by 5.5% in the third quarter. American Century Companies Inc. now owns 1,160,726 shares of the insurance provider’s stock valued at $63,434,000 after buying an additional 60,744 shares during the period. Institutional investors own 81.14% of the company’s stock.
Shares of ProAssurance Co. (PRA) opened at $47.40 on Monday. The company has a quick ratio of 0.46, a current ratio of 0.46 and a debt-to-equity ratio of 0.26. ProAssurance Co. has a 12 month low of $46.90 and a 12 month high of $63.45. The company has a market cap of $2,533.86, a P/E ratio of 23.47 and a beta of 0.59.
In other news, Chairman William Stancil Starnes sold 2,442 shares of the stock in a transaction on Wednesday, January 10th. The shares were sold at an average price of $55.00, for a total transaction of $134,310.00. Following the completion of the sale, the chairman now owns 324,895 shares of the company’s stock, valued at $17,869,225. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 39,074 shares of company stock valued at $2,149,329 in the last three months. 1.80% of the stock is owned by insiders.
Several equities analysts recently weighed in on the stock. Keefe, Bruyette & Woods restated a “hold” rating and issued a $61.00 price objective on shares of ProAssurance in a report on Wednesday, December 6th. Zacks Investment Research upgraded shares of ProAssurance from a “hold” rating to a “buy” rating and set a $68.00 price objective on the stock in a report on Wednesday, December 13th. Boenning Scattergood restated a “hold” rating on shares of ProAssurance in a report on Tuesday, November 7th. Finally, Raymond James Financial upgraded shares of ProAssurance from an “underperform” rating to a “market perform” rating in a report on Wednesday, February 28th. Two analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $57.33.
ProAssurance Corporation (ProAssurance) is a holding company for property and casualty insurance companies. The Company provides professional liability insurance for healthcare professionals and facilities, professional liability insurance for attorneys, liability insurance for medical technology and life sciences risks, and workers’ compensation insurance.
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