GABELLI & Co INVESTMENT ADVISERS INC. grew its holdings in ProAssurance Corporation (NYSE:PRA – Free Report) by 174.4% during the 1st quarter, HoldingsChannel reports. The firm owned 177,815 shares of the insurance provider’s stock after purchasing an additional 113,015 shares during the quarter. GABELLI & Co INVESTMENT ADVISERS INC.’s holdings in ProAssurance were worth $4,396,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of PRA. Ellsworth Advisors LLC lifted its position in shares of ProAssurance by 1.4% during the 4th quarter. Ellsworth Advisors LLC now owns 37,141 shares of the insurance provider’s stock worth $899,000 after buying an additional 519 shares during the last quarter. Inspire Investing LLC boosted its stake in ProAssurance by 3.0% in the fourth quarter. Inspire Investing LLC now owns 19,386 shares of the insurance provider’s stock valued at $468,000 after buying an additional 569 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in ProAssurance by 5.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,935 shares of the insurance provider’s stock valued at $313,000 after acquiring an additional 678 shares during the last quarter. Mitchell Mcleod Pugh & Williams Inc. grew its position in ProAssurance by 2.7% in the first quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 27,815 shares of the insurance provider’s stock valued at $688,000 after acquiring an additional 734 shares during the last quarter. Finally, LPL Financial LLC raised its stake in ProAssurance by 7.6% during the fourth quarter. LPL Financial LLC now owns 10,616 shares of the insurance provider’s stock worth $256,000 after acquiring an additional 747 shares in the last quarter. Institutional investors and hedge funds own 85.58% of the company’s stock.
Analysts Set New Price Targets
A number of research analysts have recently commented on PRA shares. Wall Street Zen cut shares of ProAssurance from a “hold” rating to a “sell” rating in a report on Sunday, May 10th. Weiss Ratings raised shares of ProAssurance from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, May 29th. One equities research 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, the stock currently has a consensus rating of “Buy”.
ProAssurance Stock Performance
Shares of PRA stock opened at $25.00 on Friday. ProAssurance Corporation has a 1-year low of $22.79 and a 1-year high of $25.01. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.31. The stock has a market cap of $1.29 billion, a price-to-earnings ratio of 20.00 and a beta of 0.02. The stock has a 50-day moving average of $24.74 and a 200-day moving average of $24.57.
ProAssurance (NYSE:PRA – Get Free Report) last posted its quarterly earnings data 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 analyst estimates of $216.86 million. During the same period in the previous year, the firm earned $0.13 earnings per share. The firm’s quarterly revenue was down 3.5% on a year-over-year basis. On average, equities research analysts forecast that ProAssurance Corporation will post 1.25 earnings per share for the current year.
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.
Featured Stories
- Five stocks we like better than ProAssurance
- AMD and Cerbras Create A New Blueprint For Hardware
- Intel Earnings Reveal Whether the Chip Selloff Created a Buy
- CrowdStrike’s Cerebras Deal Puts Its AI Security Strategy to the Test
- Plugging In: How Kinder Morgan Powers Up Profits
Want to see what other hedge funds are holding PRA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ProAssurance Corporation (NYSE:PRA – Free Report).
Receive News & Ratings for ProAssurance Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ProAssurance and related companies with MarketBeat.com's FREE daily email newsletter.
