ProAssurance (NYSE:PRA) Cut to “Hold” at StockNews.com

StockNews.com lowered shares of ProAssurance (NYSE:PRA) from a buy rating to a hold rating in a research note released on Friday morning.

ProAssurance Stock Up 0.5 %

Shares of NYSE PRA opened at $23.14 on Friday. The company has a 50 day simple moving average of $15.40 and a 200-day simple moving average of $15.41. The company has a market capitalization of $1.18 billion, a P/E ratio of 27.88 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. ProAssurance has a 1 year low of $10.76 and a 1 year high of $23.29.

ProAssurance (NYSE:PRA) last issued its quarterly earnings results on Monday, February 24th. The insurance provider reported $0.36 EPS for the quarter, beating the consensus estimate of $0.17 by $0.19. The company had revenue of $287.52 million during the quarter, compared to analysts’ expectations of $274.56 million. ProAssurance had a net margin of 3.71% and a return on equity of 2.65%. On average, equities research analysts predict that ProAssurance will post 0.8 earnings per share for the current year.

Institutional Trading of ProAssurance

Hedge funds and other institutional investors have recently made changes to their positions in the company. Sterling Capital Management LLC lifted its holdings in shares of ProAssurance by 859.4% in the fourth quarter. Sterling Capital Management LLC now owns 1,631 shares of the insurance provider’s stock valued at $26,000 after purchasing an additional 1,461 shares in the last quarter. KBC Group NV boosted its stake in shares of ProAssurance by 75.4% in the fourth quarter. KBC Group NV now owns 4,184 shares of the insurance provider’s stock valued at $67,000 after purchasing an additional 1,798 shares during the period. Aquatic Capital Management LLC boosted its stake in ProAssurance by 148.6% during the 4th quarter. Aquatic Capital Management LLC now owns 6,214 shares of the insurance provider’s stock valued at $99,000 after acquiring an additional 3,714 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. boosted its stake in ProAssurance by 94.3% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 8,347 shares of the insurance provider’s stock valued at $126,000 after acquiring an additional 4,052 shares during the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new stake in shares of ProAssurance during the fourth quarter worth $150,000. Hedge funds and other institutional investors own 85.58% of the company’s stock.

ProAssurance Company Profile

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.