ProAssurance (NYSE:PRA) Hits New 52-Week High - Should You Buy?

ProAssurance Co. (NYSE:PRA - Get Free Report)'s share price reached a new 52-week high on Thursday . The stock traded as high as $23.40 and last traded at $23.37, with a volume of 713204 shares changing hands. The stock had previously closed at $23.28.

Analyst Ratings Changes

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

ProAssurance Stock Up 0.0 %

The business's fifty day moving average price is $16.39 and its 200 day moving average price is $15.85. The firm has a market capitalization of $1.19 billion, a price-to-earnings ratio of 28.13 and a beta of 0.21. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.35.

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

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Institutional Trading of ProAssurance

A number of hedge funds have recently added to or reduced their stakes in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of ProAssurance by 10.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 157,977 shares of the insurance provider's stock worth $2,513,000 after purchasing an additional 15,542 shares during the period. ProShare Advisors LLC raised its position in ProAssurance by 44.4% during the 4th quarter. ProShare Advisors LLC now owns 15,354 shares of the insurance provider's stock worth $244,000 after buying an additional 4,723 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of ProAssurance by 4.0% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,991 shares of the insurance provider's stock worth $461,000 after acquiring an additional 1,127 shares during the period. Lighthouse Investment Partners LLC boosted its holdings in shares of ProAssurance by 243.5% in the fourth quarter. Lighthouse Investment Partners LLC now owns 111,766 shares of the insurance provider's stock valued at $1,778,000 after acquiring an additional 79,226 shares in the last quarter. Finally, Janus Henderson Group PLC increased its stake in shares of ProAssurance by 2,655.2% during the fourth quarter. Janus Henderson Group PLC now owns 645,358 shares of the insurance provider's stock worth $10,268,000 after acquiring an additional 621,935 shares during the period. 85.58% of the stock is owned by institutional investors and hedge funds.

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.