GABELLI & Co INVESTMENT ADVISERS INC. Purchases 113,015 Shares of ProAssurance Corporation $PRA

GABELLI & Co INVESTMENT ADVISERS INC. grew its holdings in ProAssurance Corporation (NYSE:PRA) by 174.4% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 177,815 shares of the insurance provider’s stock after acquiring an additional 113,015 shares during the quarter. GABELLI & Co INVESTMENT ADVISERS INC. owned 0.34% of ProAssurance worth $4,396,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. AQR Capital Management LLC increased its position in ProAssurance by 40.4% during the first quarter. AQR Capital Management LLC now owns 134,641 shares of the insurance provider’s stock worth $3,144,000 after acquiring an additional 38,756 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in ProAssurance by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,293 shares of the insurance provider’s stock valued at $707,000 after purchasing an additional 1,302 shares during the period. Millennium Management LLC grew its position in shares of ProAssurance by 181.5% during the 1st quarter. Millennium Management LLC now owns 306,540 shares of the insurance provider’s stock worth $7,158,000 after purchasing an additional 197,663 shares in the last quarter. Jones Financial Companies Lllp acquired a new position in shares of ProAssurance during the 1st quarter worth approximately $600,000. Finally, Goldman Sachs Group Inc. increased its holdings in shares of ProAssurance by 47.6% during the first quarter. Goldman Sachs Group Inc. now owns 511,759 shares of the insurance provider’s stock worth $11,950,000 after purchasing an additional 165,024 shares during the period. 85.58% of the stock is currently owned by institutional investors and hedge funds.

ProAssurance Price Performance

PRA stock opened at $25.00 on Friday. ProAssurance Corporation has a 52 week low of $22.79 and a 52 week high of $25.01. The business has a 50-day simple moving average of $24.74 and a 200 day simple moving average of $24.57. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.31. The company has a market cap of $1.29 billion, a PE ratio of 20.00 and a beta of 0.02.

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

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on PRA. Weiss Ratings upgraded shares of 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 given a Hold rating to the stock. According to MarketBeat, the company currently 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.