Credit Industriel ET Commercial Cuts Position in ProAssurance Corporation $PRA

Credit Industriel ET Commercial trimmed its stake in shares of ProAssurance Corporation (NYSE:PRA) by 15.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 294,874 shares of the insurance provider’s stock after selling 51,980 shares during the period. ProAssurance comprises about 0.6% of Credit Industriel ET Commercial’s holdings, making the stock its 21st biggest position. Credit Industriel ET Commercial owned about 0.57% of ProAssurance worth $7,289,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Russell Investments Group Ltd. boosted its position in shares of ProAssurance by 356.2% in the 2nd quarter. Russell Investments Group Ltd. now owns 1,405 shares of the insurance provider’s stock worth $32,000 after buying an additional 1,097 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of ProAssurance by 271.2% in the second quarter. Tower Research Capital LLC TRC now owns 5,576 shares of the insurance provider’s stock valued at $127,000 after purchasing an additional 4,074 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in shares of ProAssurance by 22.8% during the second quarter. BNP Paribas Financial Markets now owns 5,679 shares of the insurance provider’s stock valued at $130,000 after buying an additional 1,056 shares during the period. Kestra Advisory Services LLC purchased a new stake in shares of ProAssurance in the fourth quarter worth about $191,000. Finally, GAMMA Investing LLC raised its holdings in shares of ProAssurance by 90.5% during the 4th quarter. GAMMA Investing LLC now owns 8,075 shares of the insurance provider’s stock valued at $195,000 after buying an additional 3,837 shares during the period. Institutional investors and hedge funds own 85.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Wall Street Zen downgraded shares of ProAssurance from a “hold” rating to a “sell” rating in a research note on Sunday, May 10th. Weiss Ratings upgraded 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 given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy”.

ProAssurance Stock Performance

Shares of NYSE PRA opened at $25.00 on Tuesday. The stock’s 50 day simple moving average is $24.64 and its 200 day simple moving average is $24.48. 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 current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.31. ProAssurance Corporation has a 12-month low of $22.79 and a 12-month high of $25.01.

ProAssurance (NYSE:PRA) last posted its quarterly earnings data on Tuesday, May 5th. The insurance provider reported $0.25 earnings per share 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 business had revenue of $262.63 million during the quarter, compared to the consensus estimate of $216.86 million. During the same quarter in the prior year, the company posted $0.13 earnings per share. The company’s quarterly revenue was down 3.5% compared to the same quarter last year. Equities research analysts expect that ProAssurance Corporation will post 1.25 EPS for the current year.

About ProAssurance

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.