Arizona State Retirement System Sells 612 Shares of ProAssurance Co. (NYSE:PRA)

Arizona State Retirement System reduced its position in shares of ProAssurance Co. (NYSE:PRA) by 3.8% during the 4th quarter, HoldingsChannel.com reports. The fund owned 15,634 shares of the insurance provider’s stock after selling 612 shares during the quarter. Arizona State Retirement System’s holdings in ProAssurance were worth $278,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PRA. Wishbone Management LP bought a new stake in ProAssurance during the third quarter worth $18,371,000. Polar Capital LLP raised its position in shares of ProAssurance by 35.7% in the third quarter. Polar Capital LLP now owns 950,000 shares of the insurance provider’s stock valued at $14,858,000 after purchasing an additional 250,000 shares during the period. Diamond Hill Capital Management Inc. raised its position in shares of ProAssurance by 6.1% in the third quarter. Diamond Hill Capital Management Inc. now owns 2,438,868 shares of the insurance provider’s stock valued at $38,144,000 after purchasing an additional 140,316 shares during the period. Wells Fargo & Company MN raised its position in shares of ProAssurance by 5.9% in the third quarter. Wells Fargo & Company MN now owns 1,749,502 shares of the insurance provider’s stock valued at $27,363,000 after purchasing an additional 96,896 shares during the period. Finally, Smith Graham & Co. Investment Advisors LP raised its position in shares of ProAssurance by 28.9% in the third quarter. Smith Graham & Co. Investment Advisors LP now owns 389,925 shares of the insurance provider’s stock valued at $6,098,000 after purchasing an additional 87,391 shares during the period. 80.52% of the stock is currently owned by hedge funds and other institutional investors.

PRA has been the topic of several research analyst reports. Boenning Scattergood reissued a “neutral” rating on shares of ProAssurance in a research report on Tuesday, January 26th. Zacks Investment Research raised shares of ProAssurance from a “sell” rating to a “hold” rating and set a $23.00 price target on the stock in a research report on Thursday, February 11th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. ProAssurance presently has a consensus rating of “Hold” and an average target price of $22.00.

Shares of ProAssurance stock opened at $23.90 on Tuesday. The company has a market capitalization of $1.29 billion, a price-to-earnings ratio of -5.16 and a beta of 0.26. The company has a quick ratio of 0.46, a current ratio of 0.46 and a debt-to-equity ratio of 0.21. ProAssurance Co. has a 12-month low of $12.67 and a 12-month high of $32.37. The firm’s 50-day moving average price is $20.29 and its two-hundred day moving average price is $16.96.

ProAssurance (NYSE:PRA) last announced its quarterly earnings data on Monday, February 22nd. The insurance provider reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.01. The firm had revenue of $229.60 million for the quarter, compared to the consensus estimate of $210.54 million. ProAssurance had a negative net margin of 27.87% and a negative return on equity of 6.92%. The business’s revenue for the quarter was down 8.0% on a year-over-year basis. During the same period in the prior year, the company posted ($1.27) earnings per share. On average, sell-side analysts expect that ProAssurance Co. will post -0.54 earnings per share for the current year.

ProAssurance Company Profile

ProAssurance Corporation, through its subsidiaries, provides property and casualty insurance, and reinsurance products in the United States. The company operates through five segments: Specialty Property and Casualty, Workers' Compensation Insurance, Segregated Portfolio Cell Reinsurance, and Lloyd's Syndicate.

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Institutional Ownership by Quarter for ProAssurance (NYSE:PRA)

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