Trexquant Investment LP Buys 36,645 Shares of ProAssurance Co. (NYSE:PRA)

Trexquant Investment LP grew its stake in ProAssurance Co. (NYSE:PRA - Free Report) by 27.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 169,749 shares of the insurance provider's stock after purchasing an additional 36,645 shares during the quarter. Trexquant Investment LP owned approximately 0.33% of ProAssurance worth $2,701,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of PRA. FMR LLC raised its holdings in ProAssurance by 197.8% in the 3rd quarter. FMR LLC now owns 12,063 shares of the insurance provider's stock valued at $181,000 after acquiring an additional 8,012 shares during the period. BNP Paribas Financial Markets increased its stake in shares of ProAssurance by 30.0% during the third quarter. BNP Paribas Financial Markets now owns 17,978 shares of the insurance provider's stock worth $270,000 after purchasing an additional 4,149 shares during the period. Verition Fund Management LLC lifted its holdings in ProAssurance by 164.1% during the 3rd quarter. Verition Fund Management LLC now owns 36,589 shares of the insurance provider's stock worth $550,000 after purchasing an additional 22,737 shares during the last quarter. State Street Corp boosted its stake in ProAssurance by 1.8% in the 3rd quarter. State Street Corp now owns 1,968,754 shares of the insurance provider's stock valued at $29,610,000 after purchasing an additional 34,247 shares during the period. Finally, Wellington Management Group LLP grew its holdings in ProAssurance by 3.0% in the 3rd quarter. Wellington Management Group LLP now owns 3,164,085 shares of the insurance provider's stock valued at $47,588,000 after buying an additional 91,987 shares in the last quarter. Institutional investors own 85.58% of the company's stock.

ProAssurance Price Performance

Shares of NYSE PRA traded up $0.15 during trading hours on Friday, hitting $23.29. 755,704 shares of the stock were exchanged, compared to its average volume of 408,066. The company's fifty day simple moving average is $18.20 and its two-hundred day simple moving average is $16.55. The company has a market cap of $1.19 billion, a PE ratio of 28.05 and a beta of -0.09. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.28 and a current ratio of 0.28. ProAssurance Co. has a 1-year low of $10.76 and a 1-year high of $23.70.

ProAssurance (NYSE:PRA - Get Free Report) last issued its earnings results on Monday, February 24th. The insurance provider reported $0.36 earnings per share for the quarter, beating 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 firm had revenue of $287.52 million for the quarter, compared to the consensus estimate of $274.56 million. On average, sell-side analysts predict that ProAssurance Co. will post 0.8 EPS for the current year.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Raymond James cut shares of ProAssurance from a "market perform" rating to an "underperform" rating in a research note on Thursday. Citigroup downgraded shares of ProAssurance to a "market perform" rating in a research report on Thursday, April 3rd. StockNews.com initiated coverage on ProAssurance in a research note on Wednesday. They set a "hold" rating on the stock. Finally, Citizens Jmp downgraded ProAssurance from an "outperform" rating to a "market perform" rating in a research report on Thursday, April 3rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $18.67.

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.