Is ProAssurance Corporation (PRA) an Attractive Investment Avenue?

TimesSquare Capital Management, an equity investment management company, released its “U.S. Small Cap Growth Strategy” third-quarter investor letter. A copy of the same can be downloaded here. In the third quarter, the strategy outperformed the Russell 2000 Growth Index and returned 3.28% (net), and the index return was 0.24%. Strength in Industrials, Consumer Staples, Consumer Discretionary, and Information Technology sectors contributed to the strategy’s outperformance in the quarter. In addition, please check the fund’s top five holdings to know its best picks in 2022.

TimesSquare Capital highlighted stocks like ProAssurance Corporation (NYSE:PRA) in its Q3 2022 investor letter. Headquartered in Birmingham, Alabama, ProAssurance Corporation (NYSE:PRA) is a US-based insurance and reinsurance provider. On December 19, 2022, ProAssurance Corporation (NYSE:PRA) stock closed at $17.83 per share. One-month return of ProAssurance Corporation (NYSE:PRA) was -9.45%, and its shares lost 24.29% of their value over the last 52 weeks. ProAssurance Corporation (NYSE:PRA) has a market capitalization of $962.171 million.

TimesSquare Capital made the following comment about ProAssurance Corporation (NYSE:PRA) in its Q3 2022 investor letter:

“As market prices ebbed, we found the opportunity to reestablish a stake in ProAssurance Corporation (NYSE:PRA), which provides medical liability insurance to practitioners throughout the U.S. Owned in the strategy several years ago, this high-quality business had pulled back to attractive levels.”

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ProAssurance Corporation (NYSE:PRA) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 12 hedge fund portfolios held ProAssurance Corporation (NYSE:PRA) at the end of the third quarter, which was 10 in the previous quarter.

We discussed ProAssurance Corporation (NYSE:PRA) in another article and shared Diamond Hill Capital’s views on the company. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.