Vanguard Group Inc. Has $128.04 Million Stock Holdings in ProAssurance Corporation $PRA

Vanguard Group Inc. trimmed its holdings in shares of ProAssurance Corporation (NYSE:PRA) by 1.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,299,454 shares of the insurance provider’s stock after selling 81,583 shares during the period. Vanguard Group Inc. owned approximately 10.31% of ProAssurance worth $128,035,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the business. Magnetar Financial LLC increased its holdings in shares of ProAssurance by 2.3% in the 3rd quarter. Magnetar Financial LLC now owns 3,026,173 shares of the insurance provider’s stock valued at $72,598,000 after purchasing an additional 69,365 shares during the period. Alliancebernstein L.P. boosted its holdings in shares of ProAssurance by 41.6% during the third quarter. Alliancebernstein L.P. now owns 2,711,805 shares of the insurance provider’s stock worth $65,056,000 after purchasing an additional 796,132 shares during the period. Qube Research & Technologies Ltd grew its position in ProAssurance by 186.1% during the second quarter. Qube Research & Technologies Ltd now owns 1,491,060 shares of the insurance provider’s stock valued at $34,041,000 after purchasing an additional 969,833 shares in the last quarter. Alpine Associates Management Inc. lifted its position in ProAssurance by 73.6% in the 3rd quarter. Alpine Associates Management Inc. now owns 952,547 shares of the insurance provider’s stock worth $22,852,000 after buying an additional 403,807 shares in the last quarter. Finally, Marshall Wace LLP boosted its stake in shares of ProAssurance by 74.3% during the 3rd quarter. Marshall Wace LLP now owns 772,304 shares of the insurance provider’s stock valued at $18,528,000 after buying an additional 329,223 shares during the period. 85.58% of the stock is currently owned by institutional investors and hedge funds.

ProAssurance Stock Performance

ProAssurance stock opened at $24.62 on Wednesday. The company has a market cap of $1.27 billion, a PE ratio of 19.69 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 Corporation has a 1 year low of $22.72 and a 1 year high of $24.85. The company’s 50-day moving average is $24.60 and its two-hundred day moving average is $24.32.

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 the consensus estimate of $0.25. ProAssurance had a net margin of 5.99% and a return on equity of 6.82%. The business had revenue of $262.63 million for the quarter, compared to analyst estimates of $216.86 million. During the same period in the prior year, the business posted $0.13 earnings per share. ProAssurance’s revenue was down 3.5% compared to the same quarter last year. Equities analysts anticipate that ProAssurance Corporation will post 1.09 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. Zacks Research raised shares of ProAssurance from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 24th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of ProAssurance in a report on Thursday, January 22nd. Finally, Wall Street Zen lowered ProAssurance from a “hold” rating to a “sell” rating in a research note on Sunday. One research analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock 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.