ProAssurance (NYSE:PRA) Sees Strong Trading Volume - Still a Buy?

ProAssurance Co. (NYSE:PRA - Get Free Report) shares saw unusually-strong trading volume on Monday . Approximately 1,710,962 shares changed hands during mid-day trading, an increase of 418% from the previous session's volume of 330,595 shares.The stock last traded at $23.13 and had previously closed at $23.16.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered ProAssurance from a "buy" rating to a "hold" rating in a research report on Friday, March 21st.

ProAssurance Stock Performance

The firm has a 50-day moving average of $16.07 and a 200-day moving average of $15.66. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $1.19 billion, a price-to-earnings ratio of 28.11 and a beta of 0.21.

ProAssurance (NYSE:PRA - Get Free Report) last announced its quarterly earnings data on Monday, February 24th. The insurance provider reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.19. ProAssurance had a return on equity of 2.65% and a net margin of 3.71%. The firm had revenue of $287.52 million during the quarter, compared to analysts' expectations of $274.56 million. As a group, sell-side analysts predict that ProAssurance Co. will post 0.8 earnings per share for the current year.

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Institutional Trading of ProAssurance

Hedge funds and other institutional investors have recently made changes to their positions in the business. Sterling Capital Management LLC boosted its holdings in ProAssurance by 859.4% in the fourth quarter. Sterling Capital Management LLC now owns 1,631 shares of the insurance provider's stock valued at $26,000 after purchasing an additional 1,461 shares during the last quarter. KBC Group NV lifted its holdings in shares of ProAssurance by 75.4% in the 4th quarter. KBC Group NV now owns 4,184 shares of the insurance provider's stock valued at $67,000 after buying an additional 1,798 shares during the period. Aquatic Capital Management LLC boosted its stake in shares of ProAssurance by 148.6% in 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 last quarter. Point72 Asia Singapore Pte. Ltd. grew its holdings in 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 acquiring an additional 4,052 shares during the period. Finally, KLP Kapitalforvaltning AS purchased a new position in ProAssurance during the fourth quarter valued at approximately $150,000. Institutional investors and hedge funds own 85.58% of the company's stock.

ProAssurance Company Profile

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.