Summit X LLC bought a new stake in ProAssurance Co. (NYSE:PRA - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 24,015 shares of the insurance provider's stock, valued at approximately $382,000.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. Rhumbline Advisers raised its stake in shares of ProAssurance by 0.8% during the 4th quarter. Rhumbline Advisers now owns 160,707 shares of the insurance provider's stock worth $2,557,000 after buying an additional 1,281 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its stake in shares of ProAssurance by 0.3% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 587,901 shares of the insurance provider's stock worth $8,842,000 after buying an additional 1,738 shares during the last quarter. KBC Group NV raised its stake in shares of ProAssurance by 75.4% during the 4th quarter. KBC Group NV now owns 4,184 shares of the insurance provider's stock worth $67,000 after buying an additional 1,798 shares during the last quarter. New York State Teachers Retirement System raised its stake in ProAssurance by 2.2% in the 4th quarter. New York State Teachers Retirement System now owns 89,326 shares of the insurance provider's stock valued at $1,421,000 after purchasing an additional 1,937 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. raised its stake in ProAssurance by 94.3% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 8,347 shares of the insurance provider's stock valued at $126,000 after purchasing an additional 4,052 shares during the last quarter. Institutional investors and hedge funds own 85.58% of the company's stock.
ProAssurance Trading Up 0.3 %
Shares of PRA stock opened at $15.16 on Thursday. The firm has a 50-day moving average price of $15.05 and a 200 day moving average price of $15.19. ProAssurance Co. has a twelve month low of $10.76 and a twelve month high of $17.79. The company has a market capitalization of $775.28 million, a price-to-earnings ratio of 18.26 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 results on Monday, February 24th. The insurance provider reported $0.36 EPS for the quarter, beating the consensus estimate of $0.17 by $0.19. The company had revenue of $287.52 million during the quarter, compared to analysts' expectations of $274.56 million. ProAssurance had a return on equity of 2.65% and a net margin of 3.71%. Research analysts forecast that ProAssurance Co. will post 0.8 earnings per share for the current fiscal year.
Analyst Ratings Changes
Separately, StockNews.com raised shares of ProAssurance from a "hold" rating to a "buy" rating in a research note on Thursday, March 6th.
Get Our Latest Stock Report on ProAssurance
ProAssurance Profile
(
Free Report)
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.
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