Charles Schwab Investment Management Inc. Sells 112,719 Shares of ProAssurance Co. (NYSE:PRA)

Charles Schwab Investment Management Inc. trimmed its position in shares of ProAssurance Co. (NYSE:PRA) by 15.8% during the 4th quarter, HoldingsChannel reports. The fund owned 599,898 shares of the insurance provider’s stock after selling 112,719 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in ProAssurance were worth $9,544,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. KBC Group NV increased its stake in ProAssurance by 75.4% during the fourth quarter. KBC Group NV now owns 4,184 shares of the insurance provider’s stock valued at $67,000 after acquiring an additional 1,798 shares during the period. Point72 Asia Singapore Pte. Ltd. grew its stake in shares of ProAssurance by 94.3% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 8,347 shares of the insurance provider’s stock valued at $126,000 after purchasing an additional 4,052 shares during the period. FMR LLC grew its stake in shares of ProAssurance by 197.8% in the 3rd quarter. FMR LLC now owns 12,063 shares of the insurance provider’s stock valued at $181,000 after purchasing an additional 8,012 shares during the period. BNP Paribas Financial Markets grew its stake in shares of ProAssurance by 30.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 17,978 shares of the insurance provider’s stock valued at $270,000 after purchasing an additional 4,149 shares during the period. Finally, Versor Investments LP bought a new stake in shares of ProAssurance in the 4th quarter valued at approximately $354,000. 85.58% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered ProAssurance from a “buy” rating to a “hold” rating in a research note on Friday.

ProAssurance Trading Up 0.5 %

PRA stock opened at $23.14 on Friday. ProAssurance Co. has a 1-year low of $10.76 and a 1-year high of $23.29. The firm has a market cap of $1.18 billion, a P/E ratio of 27.88 and a beta of 0.21. The business’s 50 day moving average is $15.40 and its 200-day moving average is $15.40. 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 earnings results on Monday, February 24th. The insurance provider reported $0.36 EPS for the quarter, topping the consensus estimate of $0.17 by $0.19. The business had revenue of $287.52 million for the quarter, compared to the consensus estimate of $274.56 million. ProAssurance had a return on equity of 2.65% and a net margin of 3.71%. Equities analysts anticipate that ProAssurance Co. will post 0.8 earnings per share for the current fiscal 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.