Vanguard Group Inc. Sells 81,583 Shares of ProAssurance Corporation $PRA

Vanguard Group Inc. decreased its position in shares of ProAssurance Corporation (NYSE:PRA – Free Report) by 1.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,299,454 shares of the insurance provider’s stock after selling 81,583 shares during the quarter. Vanguard Group Inc. owned about 0.10% of ProAssurance worth $128,035,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Qube Research & Technologies Ltd increased its stake in ProAssurance by 186.1% in the second quarter. Qube Research & Technologies Ltd now owns 1,491,060 shares of the insurance provider’s stock valued at $34,041,000 after purchasing an additional 969,833 shares in the last quarter. Alliancebernstein L.P. boosted its position in shares of ProAssurance by 41.6% during the third quarter. Alliancebernstein L.P. now owns 2,711,805 shares of the insurance provider’s stock worth $65,056,000 after purchasing an additional 796,132 shares in the last quarter. Man Group plc bought a new position in shares of ProAssurance during the third quarter worth $17,058,000. Hudson Bay Capital Management LP grew its holdings in shares of ProAssurance by 1,050.0% in the 3rd quarter. Hudson Bay Capital Management LP now owns 575,000 shares of the insurance provider’s stock valued at $13,794,000 after buying an additional 525,000 shares during the period. Finally, Alpine Associates Management Inc. increased its position in shares of ProAssurance by 73.6% in the 3rd quarter. Alpine Associates Management Inc. now owns 952,547 shares of the insurance provider’s stock valued at $22,852,000 after buying an additional 403,807 shares in the last quarter. Institutional investors and hedge funds own 85.58% of the company’s stock.

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ProAssurance Trading Down 0.1%

Shares of NYSE:PRA opened at $24.62 on Wednesday. The firm has a market cap of $1.27 billion, a price-to-earnings ratio of 19.69 and a beta of 0.04. ProAssurance Corporation has a 12 month low of $22.72 and a 12 month high of $24.85. The company’s fifty day simple moving average is $24.60 and its 200 day simple moving average is $24.32. 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 – Get Free Report) last announced its earnings results on Tuesday, May 5th. The insurance provider reported $0.25 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.25. The firm had revenue of $262.63 million during the quarter, compared to analyst estimates of $216.86 million. ProAssurance had a net margin of 5.99% and a return on equity of 6.82%. The company’s revenue for the quarter was down 3.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.13 EPS. As a group, research analysts forecast that ProAssurance Corporation will post 1.09 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts recently commented on PRA shares. Wall Street Zen downgraded ProAssurance from a “hold” rating to a “sell” rating in a research note on Sunday. Zacks Research upgraded ProAssurance from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 24th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of ProAssurance in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, ProAssurance currently has an average rating of “Buy”.

View Our Latest Research Report on PRA

ProAssurance Company Profile

(Free Report)

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.

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