Brandywine Global Investment Management LLC Invests $1.65 Million in ProAssurance Co. (NYSE:PRA)

Brandywine Global Investment Management LLC bought a new stake in shares of ProAssurance Co. (NYSE:PRA) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 103,940 shares of the insurance provider’s stock, valued at approximately $1,654,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Arrowstreet Capital Limited Partnership increased its holdings in shares of ProAssurance by 92.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 690,871 shares of the insurance provider’s stock valued at $10,992,000 after acquiring an additional 331,224 shares in the last quarter. Cornercap Investment Counsel Inc. purchased a new stake in ProAssurance during the 4th quarter worth approximately $204,000. JPMorgan Chase & Co. increased its stake in ProAssurance by 28.0% during the 4th quarter. JPMorgan Chase & Co. now owns 323,955 shares of the insurance provider’s stock valued at $5,154,000 after purchasing an additional 70,780 shares in the last quarter. Prudential Financial Inc. raised its holdings in shares of ProAssurance by 57.3% in the fourth quarter. Prudential Financial Inc. now owns 86,703 shares of the insurance provider’s stock worth $1,379,000 after buying an additional 31,580 shares during the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new stake in shares of ProAssurance during the fourth quarter worth $150,000. 85.58% of the stock is currently owned by hedge funds and other institutional investors.

ProAssurance Stock Up 0.1 %

NYSE:PRA opened at $23.37 on Thursday. The firm has a market capitalization of $1.20 billion, a P/E ratio of 28.16 and a beta of 0.21. The company’s fifty day moving average price is $16.73 and its 200-day moving average price is $15.97. ProAssurance Co. has a 1-year low of $10.76 and a 1-year high of $23.48. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.28 and a quick ratio of 0.28.

ProAssurance (NYSE:PRA) last issued its quarterly earnings data on Monday, February 24th. The insurance provider reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.19. The business had revenue of $287.52 million during the quarter, compared to analysts’ expectations of $274.56 million. ProAssurance had a return on equity of 2.65% and a net margin of 3.71%. As a group, equities research analysts anticipate that ProAssurance Co. will post 0.8 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, StockNews.com began coverage on ProAssurance in a research note on Tuesday. They issued a “hold” rating for the company.

About ProAssurance

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.