Intech Investment Management LLC Sells 23,108 Shares of ProAssurance Corporation $PRA

Intech Investment Management LLC lessened its holdings in ProAssurance Corporation (NYSE:PRA) by 51.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,239 shares of the insurance provider’s stock after selling 23,108 shares during the period. Intech Investment Management LLC’s holdings in ProAssurance were worth $534,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Amalgamated Bank raised its holdings in shares of ProAssurance by 3.4% in the third quarter. Amalgamated Bank now owns 15,204 shares of the insurance provider’s stock valued at $365,000 after purchasing an additional 502 shares during the last quarter. Police & Firemen s Retirement System of New Jersey lifted its position in shares of ProAssurance by 6.6% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 11,021 shares of the insurance provider’s stock worth $252,000 after buying an additional 681 shares in the last quarter. Eisler Capital Management Ltd. lifted its position in shares of ProAssurance by 0.9% during the 2nd quarter. Eisler Capital Management Ltd. now owns 100,881 shares of the insurance provider’s stock worth $2,303,000 after buying an additional 881 shares in the last quarter. Jane Street Group LLC boosted its stake in shares of ProAssurance by 1.2% in the 2nd quarter. Jane Street Group LLC now owns 73,834 shares of the insurance provider’s stock worth $1,686,000 after buying an additional 890 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its holdings in shares of ProAssurance by 22.8% in the second quarter. BNP Paribas Financial Markets now owns 5,679 shares of the insurance provider’s stock valued at $130,000 after acquiring an additional 1,056 shares in the last quarter. 85.58% of the stock is owned by hedge funds and other institutional investors.

ProAssurance Price Performance

Shares of NYSE PRA opened at $24.55 on Thursday. The stock’s 50-day simple moving average is $24.35 and its two-hundred day simple moving average is $24.11. ProAssurance Corporation has a twelve month low of $14.49 and a twelve month high of $24.77. The firm has a market capitalization of $1.26 billion, a P/E ratio of 25.05 and a beta of 0.04. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.31.

ProAssurance (NYSE:PRA) last issued its quarterly earnings results on Monday, February 23rd. The insurance provider reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.60. The firm had revenue of $269.64 million during the quarter, compared to the consensus estimate of $261.08 million. ProAssurance had a return on equity of 6.50% and a net margin of 4.64%.The company’s revenue for the quarter was down 7.1% on a year-over-year basis. During the same quarter last year, the company posted $0.36 EPS. As a group, equities analysts anticipate that ProAssurance Corporation will post 0.8 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Weiss Ratings restated a “hold (c)” rating on shares of ProAssurance in a research note on Thursday, January 22nd. Zacks Research upgraded shares of ProAssurance from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 24th. Finally, Wall Street Zen upgraded shares of ProAssurance from a “sell” rating to a “hold” rating in a research note on Saturday, February 28th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, ProAssurance has an average rating of “Hold” and a consensus target price of $25.00.

About ProAssurance

ProAssurance Corporation is a specialty property and casualty insurance holding company headquartered in Birmingham, Alabama. The company focuses primarily on professional liability coverage for healthcare providers, including physicians, surgeons, dentists and allied health professionals. ProAssurance operates through a group of insurance subsidiaries that underwrite both occurrence- and claims-made policies tailored to the unique risks faced by the medical community.

In addition to professional liability insurance, ProAssurance offers a suite of complementary property and casualty products, such as general liability, workers’ compensation, property and inland marine, and umbrella coverage.