ProAssurance Corporation $PRA Position Boosted by Wolverine Asset Management LLC

Wolverine Asset Management LLC boosted its position in ProAssurance Corporation (NYSE:PRA) by 158.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 84,790 shares of the insurance provider’s stock after buying an additional 52,012 shares during the quarter. Wolverine Asset Management LLC owned approximately 0.16% of ProAssurance worth $2,034,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. AQR Capital Management LLC increased its holdings in shares of ProAssurance by 40.4% in the 1st quarter. AQR Capital Management LLC now owns 134,641 shares of the insurance provider’s stock valued at $3,144,000 after acquiring an additional 38,756 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of ProAssurance by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,293 shares of the insurance provider’s stock worth $707,000 after buying an additional 1,302 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of ProAssurance by 181.5% in the 1st quarter. Millennium Management LLC now owns 306,540 shares of the insurance provider’s stock valued at $7,158,000 after buying an additional 197,663 shares during the period. Jones Financial Companies Lllp acquired a new position in shares of ProAssurance in the 1st quarter valued at about $600,000. Finally, Goldman Sachs Group Inc. grew its position in shares of ProAssurance by 47.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 511,759 shares of the insurance provider’s stock valued at $11,950,000 after buying an additional 165,024 shares during the last quarter. Institutional investors own 85.58% of the company’s stock.

Analysts Set New Price Targets

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

ProAssurance Price Performance

Shares of PRA opened at $24.19 on Friday. ProAssurance Corporation has a one year low of $13.90 and a one year high of $24.41. The stock’s fifty day moving average is $24.07 and its 200-day moving average is $23.94. 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 firm has a market capitalization of $1.24 billion, a price-to-earnings ratio of 37.21 and a beta of 0.09.

ProAssurance (NYSE:PRA) last announced its earnings results on Tuesday, November 4th. The insurance provider reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.13). ProAssurance had a net margin of 3.01% and a return on equity of 4.78%. The company had revenue of $279.55 million during the quarter, compared to the consensus estimate of $268.71 million. During the same quarter in the prior year, the company earned $0.34 EPS. The business’s quarterly revenue was down 2.0% on a year-over-year basis. Equities analysts anticipate that ProAssurance Corporation will post 0.8 EPS for the current year.

ProAssurance Profile

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.