Gabelli Funds LLC Grows Stock Holdings in ProAssurance Corporation $PRA

Gabelli Funds LLC lifted its stake in ProAssurance Corporation (NYSE:PRA) by 165.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 188,634 shares of the insurance provider’s stock after purchasing an additional 117,447 shares during the quarter. Gabelli Funds LLC owned about 0.37% of ProAssurance worth $4,663,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Ellsworth Advisors LLC raised its stake in ProAssurance by 1.4% during the fourth quarter. Ellsworth Advisors LLC now owns 37,141 shares of the insurance provider’s stock valued at $899,000 after buying an additional 519 shares during the last quarter. Inspire Investing LLC boosted its holdings in ProAssurance by 3.0% in the fourth quarter. Inspire Investing LLC now owns 19,386 shares of the insurance provider’s stock worth $468,000 after acquiring an additional 569 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of ProAssurance by 5.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,935 shares of the insurance provider’s stock worth $313,000 after acquiring an additional 678 shares during the last quarter. Mitchell Mcleod Pugh & Williams Inc. grew its stake in shares of ProAssurance by 2.7% in the first quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 27,815 shares of the insurance provider’s stock worth $688,000 after acquiring an additional 734 shares during the last quarter. Finally, LPL Financial LLC increased its holdings in shares of ProAssurance by 7.6% during the fourth quarter. LPL Financial LLC now owns 10,616 shares of the insurance provider’s stock valued at $256,000 after acquiring an additional 747 shares in the last quarter. Hedge funds and other institutional investors own 85.58% of the company’s stock.

ProAssurance Stock Performance

Shares of PRA opened at $25.00 on Wednesday. The company has a market cap of $1.29 billion, a price-to-earnings ratio of 20.00 and a beta of 0.02. The business’s fifty day simple moving average is $24.76 and its two-hundred day simple moving average is $24.58. ProAssurance Corporation has a 12 month low of $22.79 and a 12 month 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.

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

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on PRA shares. Weiss Ratings upgraded shares of ProAssurance from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, May 29th. Wall Street Zen lowered shares of ProAssurance from a “hold” rating to a “sell” rating in a research note on Sunday, May 10th. One research analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, ProAssurance presently 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.