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

Brandywine Global Investment Management LLC purchased a new stake in shares of ProAssurance Co. (NYSE:PRA) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 103,940 shares of the insurance provider’s stock, valued at approximately $1,654,000. Brandywine Global Investment Management LLC owned about 0.20% of ProAssurance at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PRA. Zacks Investment Management purchased a new stake in shares of ProAssurance in the third quarter worth approximately $5,140,000. Arrowstreet Capital Limited Partnership increased its stake in ProAssurance by 92.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 690,871 shares of the insurance provider’s stock worth $10,992,000 after purchasing an additional 331,224 shares during the period. Wellington Management Group LLP boosted its stake in shares of ProAssurance by 3.0% during the third quarter. Wellington Management Group LLP now owns 3,164,085 shares of the insurance provider’s stock valued at $47,588,000 after purchasing an additional 91,987 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of ProAssurance by 28.0% during the fourth 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 during the period. Finally, Wakefield Asset Management LLLP purchased a new position in ProAssurance in the 4th quarter worth about $1,036,000. 85.58% of the stock is owned by hedge funds and other institutional investors.

ProAssurance Price Performance

Shares of PRA stock opened at $23.37 on Thursday. The stock has a market capitalization of $1.20 billion, a price-to-earnings ratio of 28.16 and a beta of 0.21. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.35. ProAssurance Co. has a twelve month low of $10.76 and a twelve month high of $23.48. The stock has a fifty day simple moving average of $16.73 and a two-hundred day simple moving average of $15.97.

ProAssurance (NYSE:PRA) last announced its quarterly earnings results on Monday, February 24th. The insurance provider reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.19. The firm had revenue of $287.52 million during the quarter, compared to analysts’ expectations of $274.56 million. ProAssurance had a net margin of 3.71% and a return on equity of 2.65%. On average, analysts predict that ProAssurance Co. will post 0.8 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com began coverage on shares of ProAssurance in a report on Tuesday. They set 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.