Everence Capital Management Inc. Grows Stock Holdings in ProAssurance Co. (NYSE:PRA)

Everence Capital Management Inc. raised its position in shares of ProAssurance Co. (NYSE:PRA) by 21.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,110 shares of the insurance provider’s stock after buying an additional 3,000 shares during the period. Everence Capital Management Inc.’s holdings in ProAssurance were worth $236,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of PRA. Point72 Middle East FZE acquired a new stake in shares of ProAssurance in the fourth quarter valued at $25,000. Lazard Asset Management LLC acquired a new stake in shares of ProAssurance in the first quarter valued at $31,000. Tower Research Capital LLC TRC raised its stake in shares of ProAssurance by 85.1% in the first quarter. Tower Research Capital LLC TRC now owns 4,541 shares of the insurance provider’s stock valued at $84,000 after acquiring an additional 2,088 shares in the last quarter. FMR LLC raised its stake in shares of ProAssurance by 19.8% in the third quarter. FMR LLC now owns 4,923 shares of the insurance provider’s stock valued at $93,000 after acquiring an additional 812 shares in the last quarter. Finally, Royal Bank of Canada raised its stake in shares of ProAssurance by 40.9% in the second quarter. Royal Bank of Canada now owns 9,024 shares of the insurance provider’s stock valued at $136,000 after acquiring an additional 2,620 shares in the last quarter. 85.58% of the stock is currently owned by institutional investors and hedge funds.

ProAssurance Stock Up 1.6 %

ProAssurance stock opened at $13.08 on Friday. ProAssurance Co. has a 1-year low of $11.76 and a 1-year high of $19.38. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.27 and a current ratio of 0.27. The stock’s fifty day moving average is $12.77 and its two-hundred day moving average is $13.96.

ProAssurance (NYSE:PRA) last posted its quarterly earnings results on Tuesday, February 27th. The insurance provider reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.09). ProAssurance had a negative net margin of 3.39% and a negative return on equity of 0.53%. The business had revenue of $296.96 million during the quarter, compared to analyst estimates of $252.74 million. During the same quarter in the prior year, the business earned $0.06 earnings per share. The firm’s quarterly revenue was up .8% on a year-over-year basis. On average, equities research analysts anticipate that ProAssurance Co. will post 0.26 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

ProAssurance Company 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.