California State Teachers Retirement System Cuts Holdings in ProAssurance Corporation (PRA)

California State Teachers Retirement System reduced its holdings in shares of ProAssurance Corporation (NYSE:PRA) by 9.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 96,866 shares of the insurance provider’s stock after selling 10,690 shares during the quarter. California State Teachers Retirement System owned 0.18% of ProAssurance Corporation worth $5,889,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the company. BlackRock Inc. grew its holdings in shares of ProAssurance Corporation by 2.4% during the second quarter. BlackRock Inc. now owns 5,318,451 shares of the insurance provider’s stock valued at $323,363,000 after buying an additional 124,034 shares during the last quarter. Vanguard Group Inc. boosted its holdings in ProAssurance Corporation by 1.0% during the second quarter. Vanguard Group Inc. now owns 5,051,135 shares of the insurance provider’s stock worth $307,108,000 after purchasing an additional 50,372 shares during the last quarter. FMR LLC boosted its holdings in ProAssurance Corporation by 28.9% during the second quarter. FMR LLC now owns 2,684,274 shares of the insurance provider’s stock worth $163,204,000 after purchasing an additional 602,115 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in ProAssurance Corporation by 2.0% during the second quarter. JPMorgan Chase & Co. now owns 2,118,413 shares of the insurance provider’s stock worth $128,799,000 after purchasing an additional 41,574 shares during the last quarter. Finally, State Street Corp boosted its holdings in ProAssurance Corporation by 15.6% during the first quarter. State Street Corp now owns 1,232,824 shares of the insurance provider’s stock worth $74,274,000 after purchasing an additional 166,133 shares during the last quarter. Hedge funds and other institutional investors own 80.41% of the company’s stock.

In other news, insider Neil Frank B. O bought 2,500 shares of the firm’s stock in a transaction that occurred on Friday, August 18th. The shares were acquired at an average price of $54.50 per share, with a total value of $136,250.00. Following the acquisition, the insider now owns 104,431 shares of the company’s stock, valued at approximately $5,691,489.50. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.80% of the company’s stock.

Several research firms recently weighed in on PRA. Keefe, Bruyette & Woods restated a “hold” rating and set a $60.00 price target on shares of ProAssurance Corporation in a report on Monday, October 16th. Zacks Investment Research lowered shares of ProAssurance Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, August 2nd. BidaskClub lowered shares of ProAssurance Corporation from a “sell” rating to a “strong sell” rating in a research report on Monday, July 31st. Boenning Scattergood reaffirmed a “hold” rating on shares of ProAssurance Corporation in a research report on Tuesday, August 8th. Finally, Buckingham Research initiated coverage on shares of ProAssurance Corporation in a research report on Monday, September 11th. They issued a “neutral” rating and a $54.00 price objective on the stock. One analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $60.75.

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ProAssurance Corporation (NYSE:PRA) traded down $0.15 during midday trading on Tuesday, hitting $60.25. 156,400 shares of the stock traded hands, compared to its average volume of 153,113. ProAssurance Corporation has a one year low of $50.70 and a one year high of $63.53. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $3,226.28, a price-to-earnings ratio of 26.26 and a beta of 0.54.

ProAssurance Corporation (NYSE:PRA) last posted its quarterly earnings results on Monday, November 6th. The insurance provider reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.09. The company had revenue of $228.50 million for the quarter, compared to analyst estimates of $215.12 million. ProAssurance Corporation had a net margin of 16.18% and a return on equity of 6.75%. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.46 earnings per share. equities research analysts expect that ProAssurance Corporation will post 2.07 earnings per share for the current fiscal year.

ProAssurance Corporation Profile

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.

Institutional Ownership by Quarter for ProAssurance Corporation (NYSE:PRA)

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