PSquared Asset Management AG Acquires 21,825 Shares of ProAssurance Corporation $PRA

PSquared Asset Management AG grew its holdings in ProAssurance Corporation (NYSE:PRA) by 6.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 368,059 shares of the insurance provider’s stock after acquiring an additional 21,825 shares during the period. ProAssurance accounts for 3.2% of PSquared Asset Management AG’s portfolio, making the stock its 11th largest holding. PSquared Asset Management AG’s holdings in ProAssurance were worth $9,098,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Russell Investments Group Ltd. lifted its position in ProAssurance by 356.2% during the second quarter. Russell Investments Group Ltd. now owns 1,405 shares of the insurance provider’s stock valued at $32,000 after purchasing an additional 1,097 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in ProAssurance by 173.7% during the first quarter. PNC Financial Services Group Inc. now owns 1,897 shares of the insurance provider’s stock valued at $47,000 after purchasing an additional 1,204 shares during the period. Tower Research Capital LLC TRC increased its position in ProAssurance by 271.2% in the second quarter. Tower Research Capital LLC TRC now owns 5,576 shares of the insurance provider’s stock worth $127,000 after buying an additional 4,074 shares in the last quarter. BNP Paribas Financial Markets increased its position in ProAssurance by 22.8% in the second quarter. BNP Paribas Financial Markets now owns 5,679 shares of the insurance provider’s stock worth $130,000 after buying an additional 1,056 shares in the last quarter. Finally, Kestra Advisory Services LLC bought a new position in shares of ProAssurance in the fourth quarter worth about $191,000. Institutional investors own 85.58% of the company’s stock.

ProAssurance Price Performance

Shares of PRA stock opened at $25.00 on Friday. The company’s fifty day simple moving average is $24.73 and its two-hundred day simple moving average is $24.56. ProAssurance Corporation has a 52 week low of $22.79 and a 52 week high of $25.01. The stock has a market cap of $1.29 billion, a P/E ratio of 20.00 and a beta of 0.02. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.31.

ProAssurance (NYSE:PRA) last posted its earnings results on Tuesday, May 5th. The insurance provider reported $0.25 EPS for the quarter, hitting analysts’ consensus estimates of $0.25. ProAssurance had a return on equity of 6.82% and a net margin of 5.99%.The company had revenue of $262.63 million for the quarter, compared to the consensus estimate of $216.86 million. During the same period in the previous year, the business earned $0.13 earnings per share. The firm’s revenue for the quarter was down 3.5% on a year-over-year basis. Analysts predict that ProAssurance Corporation will post 1.25 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Weiss Ratings raised shares of ProAssurance from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, May 29th. Wall Street Zen cut shares of ProAssurance from a “hold” rating to a “sell” rating in a research note on Sunday, May 10th. One analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, ProAssurance presently has an average rating of “Buy”.

About ProAssurance

ProAssurance Corporation is a specialty property and casualty insurance holding company headquartered in Birmingham, Alabama. The company focuses primarily on professional liability coverage for healthcare providers, including physicians, surgeons, dentists and allied health professionals. ProAssurance operates through a group of insurance subsidiaries that underwrite both occurrence- and claims-made policies tailored to the unique risks faced by the medical community.

In addition to professional liability insurance, ProAssurance offers a suite of complementary property and casualty products, such as general liability, workers’ compensation, property and inland marine, and umbrella coverage.