ProAssurance Corporation $PRA Shares Bought by Groupe la Francaise

Groupe la Francaise lifted its holdings in shares of ProAssurance Corporation (NYSE:PRA) by 66.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 438,577 shares of the insurance provider’s stock after acquiring an additional 175,382 shares during the quarter. Groupe la Francaise’s holdings in ProAssurance were worth $10,842,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of PRA. Qube Research & Technologies Ltd boosted its holdings 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 during the last quarter. Renaissance Technologies LLC increased its holdings in ProAssurance by 641.1% during the 1st quarter. Renaissance Technologies LLC now owns 964,900 shares of the insurance provider’s stock worth $23,852,000 after purchasing an additional 834,700 shares during the last quarter. Balyasny Asset Management L.P. increased its holdings in ProAssurance by 360.0% during the 4th quarter. Balyasny Asset Management L.P. now owns 1,039,901 shares of the insurance provider’s stock worth $25,124,000 after purchasing an additional 813,814 shares during the last quarter. Alliancebernstein L.P. raised its position in shares of ProAssurance by 41.6% in the 3rd quarter. Alliancebernstein L.P. now owns 2,711,805 shares of the insurance provider’s stock valued at $65,056,000 after purchasing an additional 796,132 shares in the last quarter. Finally, Man Group plc acquired a new position in shares of ProAssurance in the 3rd quarter valued at approximately $17,058,000. Institutional investors and hedge funds own 85.58% of the company’s stock.

ProAssurance Price Performance

Shares of ProAssurance stock opened at $25.00 on Friday. The business has a 50-day moving average price of $24.77 and a 200 day moving average price of $24.60. ProAssurance Corporation has a fifty-two week low of $22.79 and a fifty-two week high of $25.01. The firm has a market cap of $1.29 billion, a P/E ratio of 20.00 and a beta of 0.02. 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) last issued 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 return on equity of 6.82% and a net margin of 5.99%.The company had revenue of $262.63 million during the quarter, compared to analyst estimates of $216.86 million. During the same quarter last year, the firm earned $0.13 EPS. The business’s revenue was down 3.5% on a year-over-year basis. On average, sell-side analysts forecast that ProAssurance Corporation will post 1.25 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Weiss Ratings raised shares of ProAssurance from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, May 29th. Wall Street Zen downgraded shares of ProAssurance from a “hold” rating to a “sell” rating in a research note on Sunday, May 10th. One investment analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently 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.