UBS Group AG Decreases Position in ProAssurance Corporation $PRA

UBS Group AG lessened its position in ProAssurance Corporation (NYSE:PRA) by 41.2% during the fourth quarter, Holdings Channel.com reports. The fund owned 362,287 shares of the insurance provider’s stock after selling 253,789 shares during the period. UBS Group AG’s holdings in ProAssurance were worth $8,753,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in PRA. Russell Investments Group Ltd. grew its holdings in ProAssurance by 356.2% in the 2nd quarter. Russell Investments Group Ltd. now owns 1,405 shares of the insurance provider’s stock worth $32,000 after acquiring an additional 1,097 shares during the last quarter. Cornerstone Planning Group LLC grew its holdings in ProAssurance by 12,152.2% in the 3rd quarter. Cornerstone Planning Group LLC now owns 2,818 shares of the insurance provider’s stock worth $68,000 after acquiring an additional 2,795 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of ProAssurance by 271.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,576 shares of the insurance provider’s stock valued at $127,000 after purchasing an additional 4,074 shares in the last quarter. BNP Paribas Financial Markets boosted 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 valued at $130,000 after purchasing an additional 1,056 shares in the last quarter. Finally, Longfellow Investment Management Co. LLC boosted its stake in shares of ProAssurance by 95.2% during the 3rd quarter. Longfellow Investment Management Co. LLC now owns 6,253 shares of the insurance provider’s stock valued at $150,000 after purchasing an additional 3,050 shares in the last quarter. Institutional investors own 85.58% of the company’s stock.

ProAssurance Stock Performance

Shares of NYSE PRA opened at $24.52 on Monday. The firm has a 50 day moving average of $24.60 and a 200 day moving average of $24.33. 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 firm has a market capitalization of $1.27 billion, a price-to-earnings ratio of 19.61 and a beta of 0.04. ProAssurance Corporation has a 12-month low of $22.72 and a 12-month high of $24.85.

ProAssurance (NYSE:PRA) last announced its earnings results on Tuesday, May 5th. The insurance provider reported $0.25 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.25. The company 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 firm’s quarterly revenue was down 3.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.13 earnings per share. On average, research analysts anticipate that ProAssurance Corporation will post 1.09 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on PRA shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of ProAssurance in a research note on Thursday, January 22nd. Zacks Research raised shares of ProAssurance from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 24th. Finally, Wall Street Zen cut shares of ProAssurance from a “hold” rating to a “sell” rating in a report on Sunday, May 10th. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy”.

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.