Cantor Fitzgerald L. P. Takes Position in ProAssurance Corporation $PRA

Cantor Fitzgerald L. P. purchased a new position in ProAssurance Corporation (NYSE:PRA) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 38,377 shares of the insurance provider’s stock, valued at approximately $921,000. Cantor Fitzgerald L. P. owned about 0.07% of ProAssurance as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in PRA. Amalgamated Bank increased its holdings in ProAssurance by 3.4% during the third quarter. Amalgamated Bank now owns 15,204 shares of the insurance provider’s stock worth $365,000 after buying an additional 502 shares during the last quarter. Police & Firemen s Retirement System of New Jersey boosted its stake in ProAssurance by 6.6% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 11,021 shares of the insurance provider’s stock valued at $252,000 after acquiring an additional 681 shares during the last quarter. Eisler Capital Management Ltd. grew its position in shares of ProAssurance by 0.9% during the 2nd quarter. Eisler Capital Management Ltd. now owns 100,881 shares of the insurance provider’s stock valued at $2,303,000 after acquiring an additional 881 shares during the period. Jane Street Group LLC grew its position in shares of ProAssurance by 1.2% during the 2nd quarter. Jane Street Group LLC now owns 73,834 shares of the insurance provider’s stock valued at $1,686,000 after acquiring an additional 890 shares during the period. Finally, BNP Paribas Financial Markets increased its stake in shares of ProAssurance by 22.8% during the 2nd quarter. BNP Paribas Financial Markets now owns 5,679 shares of the insurance provider’s stock worth $130,000 after purchasing an additional 1,056 shares during the last quarter. Institutional investors own 85.58% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on PRA shares. Wall Street Zen raised shares of ProAssurance from a “sell” rating to a “hold” rating in a report on Saturday, February 28th. Weiss Ratings reissued a “hold (c)” rating on shares of ProAssurance in a report on Thursday, January 22nd. Finally, Zacks Research raised ProAssurance from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 24th. One research analyst has rated the stock with a Strong Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $25.00.

ProAssurance Price Performance

PRA opened at $24.49 on Thursday. The firm has a 50-day moving average price of $24.39 and a 200-day moving average price of $24.13. ProAssurance Corporation has a twelve month low of $15.45 and a twelve month high of $24.77. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $1.26 billion, a price-to-earnings ratio of 24.99 and a beta of 0.04.

ProAssurance (NYSE:PRA) last announced its quarterly earnings results on Monday, February 23rd. The insurance provider reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.60. ProAssurance had a net margin of 4.64% and a return on equity of 6.50%. The company had revenue of $269.64 million for the quarter, compared to analysts’ expectations of $261.08 million. During the same period in the prior year, the company posted $0.36 EPS. ProAssurance’s revenue was down 7.1% compared to the same quarter last year. Equities analysts expect that ProAssurance Corporation will post 0.8 EPS 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.