Dana Investment Advisors Inc. Sells 23,571 Shares of ProAssurance Co. (NYSE:PRA)

Dana Investment Advisors Inc. trimmed its stake in ProAssurance Co. (NYSE:PRA) by 5.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 409,949 shares of the insurance provider’s stock after selling 23,571 shares during the period. Dana Investment Advisors Inc.’s holdings in ProAssurance were worth $6,522,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of PRA. Barclays PLC boosted its stake in shares of ProAssurance by 307.5% in the 3rd quarter. Barclays PLC now owns 85,117 shares of the insurance provider’s stock valued at $1,280,000 after purchasing an additional 64,228 shares in the last quarter. State Street Corp boosted its position in ProAssurance by 1.8% in the third quarter. State Street Corp now owns 1,968,754 shares of the insurance provider’s stock valued at $29,610,000 after buying an additional 34,247 shares in the last quarter. JPMorgan Chase & Co. grew its stake in ProAssurance by 34.8% during the third quarter. JPMorgan Chase & Co. now owns 253,175 shares of the insurance provider’s stock worth $3,808,000 after buying an additional 65,325 shares during the last quarter. FMR LLC increased its holdings in shares of ProAssurance by 197.8% during the third quarter. FMR LLC now owns 12,063 shares of the insurance provider’s stock worth $181,000 after buying an additional 8,012 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of ProAssurance by 402.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 68,435 shares of the insurance provider’s stock valued at $1,029,000 after acquiring an additional 54,806 shares during the last quarter. 85.58% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Truist Financial increased their price target on ProAssurance from $14.00 to $18.00 and gave the stock a “hold” rating in a research report on Tuesday, November 12th. Piper Sandler cut ProAssurance from an “overweight” rating to a “neutral” rating and set a $18.00 target price on the stock. in a report on Monday, November 11th. Finally, StockNews.com raised ProAssurance from a “hold” rating to a “buy” rating in a report on Thursday.

ProAssurance Stock Performance

Shares of ProAssurance stock opened at $15.61 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.28 and a quick ratio of 0.28. The firm has a 50 day simple moving average of $15.10 and a 200 day simple moving average of $15.14. ProAssurance Co. has a fifty-two week low of $10.76 and a fifty-two week high of $17.79. The firm has a market cap of $798.56 million, a P/E ratio of 18.81 and a beta of 0.27.

ProAssurance (NYSE:PRA) last released its earnings results on Monday, February 24th. The insurance provider reported $0.36 EPS for the quarter, beating the consensus estimate of $0.17 by $0.19. ProAssurance had a return on equity of 2.65% and a net margin of 3.71%. The company had revenue of $287.52 million during the quarter, compared to analysts’ expectations of $274.56 million. Sell-side analysts predict that ProAssurance Co. will post 0.8 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.