Caxton Associates LLP Invests $1.54 Million in ProAssurance Corporation $PRA

Caxton Associates LLP acquired a new stake in ProAssurance Corporation (NYSE:PRA) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 62,422 shares of the insurance provider’s stock, valued at approximately $1,543,000. Caxton Associates LLP owned about 0.12% of ProAssurance at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Russell Investments Group Ltd. increased its holdings in ProAssurance by 356.2% during the second 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 during the last quarter. PNC Financial Services Group Inc. lifted its stake in ProAssurance by 173.7% in the first quarter. PNC Financial Services Group Inc. now owns 1,897 shares of the insurance provider’s stock valued at $47,000 after acquiring an additional 1,204 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in 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 acquiring an additional 4,074 shares during the last quarter. BNP Paribas Financial Markets grew its position in shares of ProAssurance by 22.8% in the 2nd quarter. BNP Paribas Financial Markets now owns 5,679 shares of the insurance provider’s stock valued at $130,000 after acquiring an additional 1,056 shares during the period. Finally, Kestra Advisory Services LLC bought a new position in shares of ProAssurance in the 4th quarter valued at about $191,000. 85.58% of the stock is owned by institutional investors.

ProAssurance Price Performance

PRA stock opened at $25.00 on Friday. ProAssurance Corporation has a 1-year low of $22.79 and a 1-year high of $25.01. The business’s 50 day simple moving average is $24.74 and its 200 day simple moving average is $24.57. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $1.29 billion, a PE ratio of 20.00 and a beta of 0.02.

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, meeting the consensus estimate of $0.25. ProAssurance had a return on equity of 6.82% and a net margin of 5.99%.The business had revenue of $262.63 million during the quarter, compared to the consensus estimate of $216.86 million. During the same quarter last year, the firm posted $0.13 EPS. The company’s quarterly revenue was down 3.5% on a year-over-year basis. As a group, research analysts anticipate that ProAssurance Corporation will post 1.25 EPS for the current year.

Analyst Ratings Changes

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