Hsbc Holdings PLC Boosts Position in ProAssurance Corporation $PRA

Hsbc Holdings PLC grew its stake in ProAssurance Corporation (NYSE:PRA) by 7.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,047,160 shares of the insurance provider’s stock after acquiring an additional 74,870 shares during the period. Hsbc Holdings PLC owned 2.04% of ProAssurance worth $25,289,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of PRA. Qube Research & Technologies Ltd increased its position in ProAssurance by 186.1% during the 2nd 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 during the period. Balyasny Asset Management L.P. lifted its position in shares of ProAssurance by 360.0% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,039,901 shares of the insurance provider’s stock worth $25,124,000 after purchasing an additional 813,814 shares during the period. Alliancebernstein L.P. lifted its position in shares of ProAssurance by 41.6% in the 3rd 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. Man Group plc bought a new position in shares of ProAssurance during the third quarter valued at approximately $17,058,000. Finally, Hudson Bay Capital Management LP boosted its stake in shares of ProAssurance by 1,050.0% during the third quarter. Hudson Bay Capital Management LP now owns 575,000 shares of the insurance provider’s stock valued at $13,794,000 after purchasing an additional 525,000 shares in the last quarter. 85.58% of the stock is owned by hedge funds and other institutional investors.

ProAssurance Price Performance

NYSE PRA opened at $25.00 on Thursday. The company has a market cap of $1.29 billion, a price-to-earnings ratio of 20.00 and a beta of 0.02. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.27 and a quick ratio of 0.27. The stock’s fifty day moving average price is $24.59 and its 200 day moving average price is $24.43. ProAssurance Corporation has a 1 year low of $22.79 and a 1 year high of $25.02.

ProAssurance (NYSE:PRA) last issued its earnings results on Tuesday, May 5th. The insurance provider reported $0.25 EPS for the quarter, meeting analysts’ consensus estimates of $0.25. ProAssurance had a return on equity of 6.82% and a net margin of 5.99%.The firm had revenue of $262.63 million for the quarter, compared to analyst estimates of $216.86 million. During the same quarter in the prior year, the firm earned $0.13 earnings per share. ProAssurance’s revenue for the quarter was down 3.5% on a year-over-year basis. As a group, equities research analysts forecast that ProAssurance Corporation will post 1.25 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have issued reports on PRA. Wall Street Zen lowered ProAssurance from a “hold” rating to a “sell” rating in a research note on Sunday, May 10th. Weiss Ratings upgraded shares of ProAssurance from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, May 29th. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy”.

ProAssurance Company 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.