Squarepoint Ops LLC Invests $6.60 Million in ProAssurance Corporation $PRA

Squarepoint Ops LLC purchased a new position in shares of ProAssurance Corporation (NYSE:PRA) in the 2nd quarter, Holdings Channel reports. The firm purchased 289,208 shares of the insurance provider’s stock, valued at approximately $6,603,000.

A number of other hedge funds also recently made changes to their positions in the stock. Russell Investments Group Ltd. increased its holdings in shares of ProAssurance by 356.2% during the 2nd quarter. Russell Investments Group Ltd. now owns 1,405 shares of the insurance provider’s stock worth $32,000 after buying an additional 1,097 shares during the last quarter. Quantbot Technologies LP acquired a new stake in ProAssurance during the first quarter worth about $47,000. GAMMA Investing LLC raised its holdings in ProAssurance by 50.7% in the second quarter. GAMMA Investing LLC now owns 3,123 shares of the insurance provider’s stock valued at $71,000 after buying an additional 1,050 shares during the period. PenderFund Capital Management Ltd. purchased a new stake in shares of ProAssurance in the first quarter worth about $119,000. Finally, Tower Research Capital LLC TRC grew its stake in shares of ProAssurance by 271.2% in the second quarter. Tower Research Capital LLC TRC now owns 5,576 shares of the insurance provider’s stock valued at $127,000 after buying an additional 4,074 shares in the last quarter. Institutional investors and hedge funds own 85.58% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Weiss Ratings restated a “hold (c)” rating on shares of ProAssurance in a research note on Wednesday, October 8th. Zacks Research downgraded ProAssurance from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 5th. Finally, Wall Street Zen upgraded ProAssurance to a “sell” rating in a research note on Saturday, November 22nd. Five equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, ProAssurance currently has a consensus rating of “Reduce” and a consensus price target of $25.00.

ProAssurance Stock Up 0.4%

NYSE:PRA opened at $24.26 on Monday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.28 and a current ratio of 0.28. The company has a market capitalization of $1.25 billion, a price-to-earnings ratio of 37.32 and a beta of 0.11. ProAssurance Corporation has a one year low of $13.90 and a one year high of $24.41. The stock has a 50-day simple moving average of $24.03 and a 200 day simple moving average of $23.75.

ProAssurance (NYSE:PRA) last released its quarterly earnings data on Friday, May 20th. The insurance provider reported $0.04 earnings per share (EPS) for the quarter. ProAssurance had a return on equity of 4.78% and a net margin of 3.01%.The business had revenue of $220.02 million during the quarter. Sell-side analysts predict that ProAssurance Corporation will post 0.8 EPS for the current fiscal year.

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.