ProAssurance (NYSE:PRA) Sets New 12-Month High - Should You Buy?

ProAssurance Co. (NYSE:PRA - Get Free Report)'s stock price reached a new 52-week high on Friday . The stock traded as high as $23.29 and last traded at $23.05, with a volume of 17275803 shares changing hands. The stock had previously closed at $15.54.

Analyst Ratings Changes

Separately, StockNews.com lowered ProAssurance from a "buy" rating to a "hold" rating in a research report on Friday.

ProAssurance Stock Performance

The stock's 50-day moving average is $15.58 and its 200 day moving average is $15.48. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.28 and a current ratio of 0.28. The firm has a market cap of $1.19 billion, a P/E ratio of 28.01 and a beta of 0.21.

ProAssurance (NYSE:PRA - Get Free Report) last released its quarterly earnings results on Monday, February 24th. The insurance provider reported $0.36 EPS for the quarter, topping analysts' consensus estimates of $0.17 by $0.19. ProAssurance had a return on equity of 2.65% and a net margin of 3.71%. The company had revenue of $287.52 million for the quarter, compared to analyst estimates of $274.56 million. On average, research analysts predict that ProAssurance Co. will post 0.8 earnings per share for the current year.

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Institutional Investors Weigh In On ProAssurance

Several large investors have recently made changes to their positions in PRA. Sterling Capital Management LLC boosted its stake in ProAssurance by 859.4% in the 4th quarter. Sterling Capital Management LLC now owns 1,631 shares of the insurance provider's stock worth $26,000 after purchasing an additional 1,461 shares during the period. KBC Group NV lifted its holdings in shares of ProAssurance by 75.4% in the fourth quarter. KBC Group NV now owns 4,184 shares of the insurance provider's stock valued at $67,000 after purchasing an additional 1,798 shares in the last quarter. Aquatic Capital Management LLC boosted its position in shares of ProAssurance by 148.6% during the fourth quarter. Aquatic Capital Management LLC now owns 6,214 shares of the insurance provider's stock worth $99,000 after buying an additional 3,714 shares during the period. Point72 Asia Singapore Pte. Ltd. grew its holdings in shares of ProAssurance by 94.3% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 8,347 shares of the insurance provider's stock worth $126,000 after buying an additional 4,052 shares in the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new stake in ProAssurance in the 4th quarter valued at approximately $150,000. Institutional investors own 85.58% of the company's stock.

About ProAssurance

ProAssurance Corporation, through its subsidiaries, provides property and casualty insurance, and reinsurance products in the United States. The company operates through Specialty Property and Casualty, Workers' Compensation Insurance, and Segregated Portfolio Cell Reinsurance segments. It offers professional liability insurance to healthcare providers and institutions, and attorneys and their firms; medical technology liability insurance to medical technology and life sciences companies; and custom alternative risk solutions, including assumed reinsurance, loss portfolio transfers, and captive cell programs for healthcare professional liability insureds.