CIBC Asset Management Inc trimmed its holdings in shares of ProAssurance Co. (NYSE:PRA) by 34.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,287 shares of the insurance provider’s stock after selling 2,261 shares during the period. CIBC Asset Management Inc’s holdings in ProAssurance were worth $245,000 as of its most recent filing with the SEC.
Several other institutional investors have also bought and sold shares of the business. JPMorgan Chase & Co. boosted its holdings in shares of ProAssurance by 1.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,142,632 shares of the insurance provider’s stock worth $116,988,000 after buying an additional 24,219 shares in the last quarter. TimesSquare Capital Management LLC boosted its holdings in shares of ProAssurance by 1.3% during the 3rd quarter. TimesSquare Capital Management LLC now owns 2,037,585 shares of the insurance provider’s stock worth $111,354,000 after buying an additional 25,905 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in shares of ProAssurance by 6.3% during the 4th quarter. Victory Capital Management Inc. now owns 1,563,210 shares of the insurance provider’s stock worth $89,338,000 after buying an additional 93,160 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in shares of ProAssurance by 10.7% during the 3rd quarter. Wells Fargo & Company MN now owns 1,313,376 shares of the insurance provider’s stock worth $71,777,000 after buying an additional 127,382 shares in the last quarter. Finally, American Century Companies Inc. boosted its holdings in shares of ProAssurance by 5.5% during the 3rd quarter. American Century Companies Inc. now owns 1,160,726 shares of the insurance provider’s stock worth $63,434,000 after buying an additional 60,744 shares in the last quarter. Hedge funds and other institutional investors own 79.89% of the company’s stock.
In related news, Chairman William Stancil Starnes sold 2,442 shares of the stock in a transaction on Wednesday, January 10th. The stock was sold at an average price of $55.00, for a total value of $134,310.00. Following the transaction, the chairman now directly owns 324,895 shares in the company, valued at approximately $17,869,225. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last quarter, insiders sold 39,074 shares of company stock worth $2,149,329. 1.80% of the stock is owned by company insiders.
A number of research firms have issued reports on PRA. Zacks Investment Research upgraded ProAssurance from a “hold” rating to a “buy” rating and set a $63.00 price target on the stock in a report on Friday, January 5th. Boenning Scattergood restated a “hold” rating on shares of ProAssurance in a report on Tuesday, November 7th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $61.00 target price on shares of ProAssurance in a report on Wednesday, December 6th. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $59.33.
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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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