ProAssurance (NYSE:PRA) Sees Unusually-High Trading Volume – Time to Buy?

ProAssurance Co. (NYSE:PRA) shares saw unusually-strong trading volume on Monday . Approximately 1,710,962 shares changed hands during trading, an increase of 418% from the previous session’s volume of 330,595 shares.The stock last traded at $23.13 and had previously closed at $23.16.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of ProAssurance from a “buy” rating to a “hold” rating in a research note on Friday.

ProAssurance Stock Performance

The stock has a market capitalization of $1.19 billion, a price-to-earnings ratio of 27.91 and a beta of 0.21. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.28 and a quick ratio of 0.28. The stock has a 50-day moving average of $15.40 and a 200 day moving average of $15.41.

ProAssurance (NYSE:PRA) last announced its quarterly earnings data on Monday, February 24th. The insurance provider reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.19. ProAssurance had a net margin of 3.71% and a return on equity of 2.65%. The business had revenue of $287.52 million for the quarter, compared to analyst estimates of $274.56 million. On average, analysts expect that ProAssurance Co. will post 0.8 EPS for the current year.

Institutional Investors Weigh In On ProAssurance

Institutional investors have recently made changes to their positions in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in ProAssurance by 10.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 157,977 shares of the insurance provider’s stock worth $2,513,000 after buying an additional 15,542 shares during the last quarter. ProShare Advisors LLC boosted its stake in ProAssurance by 44.4% during the 4th quarter. ProShare Advisors LLC now owns 15,354 shares of the insurance provider’s stock worth $244,000 after acquiring an additional 4,723 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in ProAssurance by 4.0% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,991 shares of the insurance provider’s stock valued at $461,000 after purchasing an additional 1,127 shares during the period. Lighthouse Investment Partners LLC increased its stake in ProAssurance by 243.5% in the fourth quarter. Lighthouse Investment Partners LLC now owns 111,766 shares of the insurance provider’s stock valued at $1,778,000 after purchasing an additional 79,226 shares in the last quarter. Finally, Janus Henderson Group PLC raised its holdings in ProAssurance by 2,655.2% in the fourth quarter. Janus Henderson Group PLC now owns 645,358 shares of the insurance provider’s stock worth $10,268,000 after purchasing an additional 621,935 shares during the period. 85.58% of the stock is owned by institutional investors and hedge funds.

About ProAssurance

ProAssurance Corporation, through its subsidiaries, provides property and casualty insurance, and reinsurance products in the United States. The company operates through Specialty Property and Casualty, Workers’ Compensation Insurance, and Segregated Portfolio Cell Reinsurance segments. It offers professional liability insurance to healthcare providers and institutions, and attorneys and their firms; medical technology liability insurance to medical technology and life sciences companies; and custom alternative risk solutions, including assumed reinsurance, loss portfolio transfers, and captive cell programs for healthcare professional liability insureds.