Wellington Management Discloses 5.0% Stake in ProAssurance Corp

TL;DR

**Wellington Management still holds 5% of ProAssurance, a bullish sign for the stock.**

AI Summary

Wellington Management Group LLP, a Boston-based investment adviser, filed an amended SC 13G/A on February 8, 2024, disclosing its ownership of 2,742,428 shares of ProAssurance Corporation (PRA) common stock as of December 29, 2023. This represents a 5.0% beneficial ownership stake in the insurance company. This filing indicates Wellington's continued significant, but passive, investment in ProAssurance, which could provide a level of stability for current and prospective shareholders.

Why It Matters

This filing shows a major institutional investor, Wellington Management, maintains a significant stake in ProAssurance, signaling their continued confidence in the company's long-term prospects. For investors, this can be a positive indicator of institutional backing.

Risk Assessment

Risk Level: low — This filing indicates a passive, institutional ownership stake, which generally poses low risk to the company's operations or stock price.

Analyst Insight

Investors should note that a major institutional investor maintains a significant, passive stake in ProAssurance, which can be a sign of long-term confidence. This filing doesn't suggest any immediate action but provides context on the company's ownership structure.

Key Numbers

• 2,742,428 — Shares Beneficially Owned (Represents Wellington Management Group LLP's shared voting power in ProAssurance Corporation.)
• 5.0% — Beneficial Ownership Percentage (The percentage of ProAssurance Corporation's common stock owned by Wellington Management Group LLP.)
• 0 — Sole Voting Power (Indicates Wellington Management Group LLP does not have sole voting power over any shares.)

Key Players & Entities

• Wellington Management Group LLP (company) — the reporting person and investment adviser
• ProAssurance Corporation (company) — the issuer of the securities
• Massachusetts (place) — place of organization for Wellington Management Group LLP
• December 29, 2023 (date) — date of the event requiring the filing
• February 8, 2024 (date) — date the SC 13G/A was filed

Forward-Looking Statements

• Wellington Management Group LLP will maintain a significant, passive stake in ProAssurance Corporation. (Wellington Management Group LLP) — high confidence, target: Next 12 months
• ProAssurance Corporation's stock price will experience some stability due to continued institutional backing. (ProAssurance Corporation) — medium confidence, target: Next 6 months

FAQ

Filing Documents

• SEC13G_Filing.htm (SC 13G/A) — 35KB
• 0000902219-24-000117.txt ( ) — 36KB

From the Filing

SC 13G/A 1 SEC13G_Filing.htm SEC SCHEDULE 13G UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No. 1 ) * ProAssurance Corporation (Name of Issuer) Common Stock (Title of Class of Securities) 74267C106 (CUSIP Number) December 29, 2023 (Date of Event Which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: [X] Rule 13d-1(b) [ ] Rule 13d-1(c) [ ] Rule 13d-1(d) * The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 (the "Act") or otherwise subject to the liabilities of that section of the Act, but shall be subject to all other provisions of the Act (however, see the Notes.) CUSIP No. 74267C106 1. NAMES OF REPORTING PERSONS Wellington Management Group LLP 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [ ] 3. SEC USE ONLY 4. CITIZENSHIP OR PLACE OF ORGANIZATION Massachusetts NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 5. SOLE VOTING POWER 0 6. SHARED VOTING POWER 2,742,428 7. SOLE DISPOSITIVE POWER 0 8. SHARED DISPOSITIVE POWER 2,777,882 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 2,777,882 10. CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [ ] 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 5.45% 12. TYPE OF REPORTING PERSON HC CUSIP No. 74267C106 1. NAMES OF REPORTING PERSONS Wellington Group Holdings LLP 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [ ] 3. SEC USE ONLY 4. CITIZENSHIP OR PLACE OF ORGANIZATION Delaware NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 5. SOLE VOTING POWER 0 6. SHARED VOTING POWER 2,742,428 7. SOLE DISPOSITIVE POWER 0 8. SHARED DISPOSITIVE POWER 2,777,882 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 2,777,882 10. CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [ ] 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 5.45% 12. TYPE OF REPORTING PERSON HC CUSIP No. 74267C106 1. NAMES OF REPORTING PERSONS Wellington Investment Advisors Holdings LLP 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [ ] 3. SEC USE ONLY 4. CITIZENSHIP OR PLACE OF ORGANIZATION Delaware NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 5. SOLE VOTING POWER 0 6. SHARED VOTING POWER 2,742,428 7. SOLE DISPOSITIVE POWER 0 8. SHARED DISPOSITIVE POWER 2,777,882 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 2,777,882 10. CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [ ] 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 5.45% 12. TYPE OF REPORTING PERSON HC CUSIP No. 74267C106 1. NAMES OF REPORTING PERSONS Wellington Management Company LLP 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [ ] 3. SEC USE ONLY 4. CITIZENSHIP OR PLACE OF ORGANIZATION Delaware NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 5. SOLE VOTING POWER 0 6. SHARED VOTING POWER 2,656,528 7. SOLE DISPOSITIVE POWER 0 8. SHARED DISPOSITIVE POWER 2,691,982 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 2,691,982 10. CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [ ] 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 5.28% 12. TYPE OF REPORTING PERSON IA Item 1. (a) Name of Issuer ProAssurance Corporation (b) Address of Issuer's Principal Executive Offices 100 Brookwood Place Birmingham, AL 35209 Item 2. (a) Name of Person Filing Wellington Management Group LLP Wellington Group Holdings LLP Wellington Investment Advisors Holdings LLP Wellington Management Company LLP (b) Address of Principal Business Office or, if None, Residence c/o Wellington Management Company LLP 280 Congress Street Boston, MA 02210 (c) Citizenship Wellington Management Group LLP - Massachusetts Wellington Group Holdings LLP - Delaware Wellington Investment Advisors Holdings LLP - Delaware Wellington Management Company LLP - Delaware (d) Title of Class of Securities Common Stock (e) CUSIP Number 74267C106 Item 3. If This Statement is Filed Pursuant to Rule 13d-1(b), or 13d-2(b) or (c), Check Whether the Person Filing is a: (a) [ ] Broker or dealer registered under Section 15 of the Act (15 U.S.C. 78o). (b) [ ] Bank as defined in Section 3(a)(6) of the Act (15 U.S.C. 78c). (c) [ ] Insurance Company as defined in S

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View this SC 13G/A filing on SEC EDGAR