Allspring Global Investments Holdings LLC Purchases 18,718 Shares of ProAssurance Co. (NYSE:PRA)

Allspring Global Investments Holdings LLC grew its position in ProAssurance Co. (NYSE:PRA) by 1.4% in the third quarter, HoldingsChannel.com reports. The firm owned 1,311,435 shares of the insurance provider’s stock after acquiring an additional 18,718 shares during the period. Allspring Global Investments Holdings LLC’s holdings in ProAssurance were worth $19,724,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PRA. BNP Paribas Financial Markets boosted its position in shares of ProAssurance by 14.5% during the first quarter. BNP Paribas Financial Markets now owns 38,649 shares of the insurance provider’s stock worth $497,000 after acquiring an additional 4,885 shares during the last quarter. Aull & Monroe Investment Management Corp bought a new position in shares of ProAssurance during the first quarter worth $178,000. ProShare Advisors LLC bought a new position in shares of ProAssurance during the first quarter worth $132,000. State Board of Administration of Florida Retirement System boosted its position in shares of ProAssurance by 62.7% during the first quarter. State Board of Administration of Florida Retirement System now owns 25,094 shares of the insurance provider’s stock worth $323,000 after acquiring an additional 9,670 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co boosted its position in shares of ProAssurance by 12.0% during the first quarter. CANADA LIFE ASSURANCE Co now owns 46,875 shares of the insurance provider’s stock worth $603,000 after acquiring an additional 5,008 shares during the last quarter. Institutional investors own 85.58% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Truist Financial dropped their target price on shares of ProAssurance from $16.00 to $14.00 and set a “hold” rating for the company in a research report on Monday, August 12th. JMP Securities lowered their price objective on shares of ProAssurance from $22.00 to $20.00 and set a “market outperform” rating for the company in a research report on Wednesday, July 17th.

ProAssurance Price Performance

PRA stock opened at $15.01 on Friday. ProAssurance Co. has a 52 week low of $10.76 and a 52 week high of $18.19. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.38. The company has a fifty day simple moving average of $14.11 and a two-hundred day simple moving average of $13.42. The firm has a market capitalization of $765.69 million, a P/E ratio of -27.80 and a beta of 0.24.

ProAssurance (NYSE:PRA) last released its quarterly earnings data on Thursday, August 8th. The insurance provider reported $0.23 EPS for the quarter, beating the consensus estimate of $0.08 by $0.15. ProAssurance had a negative net margin of 2.00% and a positive return on equity of 0.86%. The business had revenue of $290.30 million during the quarter, compared to analyst estimates of $235.61 million. During the same quarter last year, the business earned $0.16 earnings per share. ProAssurance’s quarterly revenue was down .5% compared to the same quarter last year. Analysts anticipate that ProAssurance Co. will post 0.58 earnings per share for the current fiscal year.

ProAssurance 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.