OP Asset Management Ltd Purchases Shares of 36,853 ProAssurance Corporation $PRA

OP Asset Management Ltd purchased a new stake in shares of ProAssurance Corporation (NYSE:PRA) in the 1st quarter, Holdings Channel.com reports. The fund purchased 36,853 shares of the insurance provider’s stock, valued at approximately $911,000.

A number of other hedge funds also recently modified their holdings of the business. Russell Investments Group Ltd. grew its stake 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 worth $32,000 after purchasing an additional 1,097 shares during the last quarter. Tower Research Capital LLC TRC raised its position in ProAssurance by 271.2% during the 2nd 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 last quarter. BNP Paribas Financial Markets raised its position 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. Longfellow Investment Management Co. LLC raised its position in ProAssurance by 95.2% during the 3rd quarter. Longfellow Investment Management Co. LLC now owns 6,253 shares of the insurance provider’s stock worth $150,000 after purchasing an additional 3,050 shares during the last quarter. Finally, Kestra Advisory Services LLC acquired a new position in ProAssurance during the 4th quarter worth about $191,000. Institutional investors and hedge funds own 85.58% of the company’s stock.

ProAssurance Stock Performance

NYSE:PRA opened at $25.00 on Tuesday. ProAssurance Corporation has a 52 week low of $22.79 and a 52 week high of $25.01. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.27 and a current ratio of 0.27. The firm’s fifty day moving average is $24.61 and its 200-day moving average is $24.45. The firm has a market cap of $1.29 billion, a P/E ratio of 20.00 and a beta of 0.02.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on PRA shares. Weiss Ratings upgraded ProAssurance from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, May 29th. Wall Street Zen downgraded ProAssurance from a “hold” rating to a “sell” rating in a research report on Sunday, May 10th. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, ProAssurance presently has an average 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.