Louisiana State Employees Retirement System Takes Position in ProAssurance Corporation $PRA

Louisiana State Employees Retirement System purchased a new position in shares of ProAssurance Corporation (NYSE:PRA) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 22,800 shares of the insurance provider’s stock, valued at approximately $564,000.

Several other large investors have also made changes to their positions in the company. Magnetar Financial LLC increased its stake in ProAssurance by 15.1% in the fourth quarter. Magnetar Financial LLC now owns 3,484,563 shares of the insurance provider’s stock valued at $84,187,000 after acquiring an additional 458,390 shares during the last quarter. Alliancebernstein L.P. lifted its stake in 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 last quarter. Qube Research & Technologies Ltd boosted its holdings in shares of ProAssurance by 186.1% in 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 in the last quarter. Geode Capital Management LLC boosted its holdings in shares of ProAssurance by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 1,199,244 shares of the insurance provider’s stock valued at $28,978,000 after purchasing an additional 4,607 shares in the last quarter. Finally, Hsbc Holdings PLC increased its stake in shares of ProAssurance by 7.7% in the 4th quarter. Hsbc Holdings PLC now owns 1,047,160 shares of the insurance provider’s stock valued at $25,289,000 after purchasing an additional 74,870 shares during the last quarter. Institutional investors and hedge funds own 85.58% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Wall Street Zen cut ProAssurance from a “hold” rating to a “sell” rating in a report on Sunday, May 10th. Weiss Ratings upgraded ProAssurance from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, May 29th. One analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy”.

ProAssurance Stock Performance

Shares of ProAssurance stock opened at $25.00 on Wednesday. ProAssurance Corporation has a fifty-two week low of $22.79 and a fifty-two week high of $25.01. 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 firm has a market capitalization of $1.29 billion, a P/E ratio of 20.00 and a beta of 0.02. The company’s 50 day moving average price is $24.65 and its two-hundred day moving average price is $24.49.

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

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.