Caxton Associates LLP Purchases Shares of 62,422 ProAssurance Corporation $PRA

Caxton Associates LLP acquired a new position in shares of ProAssurance Corporation (NYSE:PRA) in the 1st quarter, Holdings Channel.com reports. The firm acquired 62,422 shares of the insurance provider’s stock, valued at approximately $1,543,000.

A number of other institutional investors also recently made changes to their positions in the company. Russell Investments Group Ltd. grew its position in shares of ProAssurance by 356.2% in the second quarter. Russell Investments Group Ltd. now owns 1,405 shares of the insurance provider’s stock valued at $32,000 after purchasing an additional 1,097 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in shares of ProAssurance by 173.7% during the first quarter. PNC Financial Services Group Inc. now owns 1,897 shares of the insurance provider’s stock worth $47,000 after purchasing an additional 1,204 shares during the period. Tower Research Capital LLC TRC increased its stake in shares of ProAssurance by 271.2% during the second quarter. Tower Research Capital LLC TRC now owns 5,576 shares of the insurance provider’s stock worth $127,000 after purchasing an additional 4,074 shares during the period. BNP Paribas Financial Markets lifted its holdings in 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. Finally, Kestra Advisory Services LLC acquired a new stake in ProAssurance during the 4th quarter worth approximately $191,000. Institutional investors own 85.58% of the company’s stock.

ProAssurance Stock Performance

NYSE PRA opened at $25.00 on Friday. 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 $1.29 billion, a P/E ratio of 20.00 and a beta of 0.02. ProAssurance Corporation has a 12-month low of $22.79 and a 12-month high of $25.01. The firm has a 50-day moving average price of $24.74 and a two-hundred day moving average price of $24.57.

ProAssurance (NYSE:PRA) last announced its earnings results on Tuesday, May 5th. The insurance provider reported $0.25 EPS for the quarter, hitting the consensus estimate of $0.25. ProAssurance had a net margin of 5.99% and a return on equity of 6.82%. The company had revenue of $262.63 million for the quarter, compared to analysts’ expectations of $216.86 million. During the same period last year, the firm earned $0.13 earnings per share. The business’s revenue for the quarter was down 3.5% on a year-over-year basis. Analysts anticipate that ProAssurance Corporation will post 1.25 earnings per share for the current year.

Wall Street Analyst Weigh In

PRA has been the subject of several recent research reports. Wall Street Zen downgraded ProAssurance from a “hold” rating to a “sell” rating in a research note on Sunday, May 10th. Weiss Ratings upgraded ProAssurance from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, May 29th. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy”.

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.