ProAssurance Corporation $PRA Shares Bought by Credit Industriel ET Commercial

Credit Industriel ET Commercial boosted its holdings in shares of ProAssurance Corporation (NYSE:PRA) by 37.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 346,854 shares of the insurance provider’s stock after buying an additional 94,579 shares during the quarter. ProAssurance accounts for 0.6% of Credit Industriel ET Commercial’s investment portfolio, making the stock its 22nd largest position. Credit Industriel ET Commercial’s holdings in ProAssurance were worth $8,380,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Hudson Bay Capital Management LP lifted its holdings in ProAssurance by 1,050.0% during the 3rd quarter. Hudson Bay Capital Management LP now owns 575,000 shares of the insurance provider’s stock worth $13,794,000 after buying an additional 525,000 shares in the last quarter. Alpine Associates Management Inc. raised its holdings in shares of ProAssurance by 73.6% in the 3rd quarter. Alpine Associates Management Inc. now owns 952,547 shares of the insurance provider’s stock valued at $22,852,000 after purchasing an additional 403,807 shares in the last quarter. Wolverine Asset Management LLC raised its holdings in shares of ProAssurance by 158.7% in the 3rd quarter. Wolverine Asset Management LLC now owns 84,790 shares of the insurance provider’s stock valued at $2,034,000 after purchasing an additional 52,012 shares in the last quarter. Gardner Lewis Asset Management L P acquired a new stake in shares of ProAssurance in the 3rd quarter valued at $7,007,000. Finally, JPMorgan Chase & Co. raised its holdings in shares of ProAssurance by 58.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 157,891 shares of the insurance provider’s stock valued at $3,788,000 after purchasing an additional 58,382 shares in the last quarter. 85.58% of the stock is currently owned by institutional investors and hedge funds.

ProAssurance Price Performance

Shares of PRA opened at $24.66 on Wednesday. ProAssurance Corporation has a twelve month low of $22.72 and a twelve month high of $24.85. The firm’s fifty day simple moving average is $24.59 and its 200-day simple moving average is $24.30. The firm has a market capitalization of $1.27 billion, a price-to-earnings ratio of 25.16 and a beta of 0.04. 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 announced its quarterly earnings data on Tuesday, May 5th. The insurance provider reported $0.25 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.25. The business had revenue of $262.63 million for the quarter, compared to analyst estimates of $216.86 million. ProAssurance had a net margin of 4.64% and a return on equity of 6.50%. The company’s revenue was down 3.5% on a year-over-year basis. During the same period last year, the business earned $0.13 EPS. Equities analysts forecast that ProAssurance Corporation will post 1.08 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

PRA has been the topic of a number of analyst reports. Wall Street Zen upgraded shares of ProAssurance from a “sell” rating to a “hold” rating in a report on Saturday. Zacks Research upgraded shares of ProAssurance from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 24th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of ProAssurance in a report on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $25.00.

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.