ProAssurance (NYSE:PRA) Now Covered by Analysts at StockNews.com

StockNews.com started coverage on shares of ProAssurance (NYSE:PRA) in a research report sent to investors on Tuesday morning. The brokerage issued a hold rating on the insurance provider’s stock.

ProAssurance Stock Performance

Shares of ProAssurance stock opened at $23.34 on Tuesday. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.28 and a quick ratio of 0.28. The firm has a 50 day simple moving average of $16.55 and a 200 day simple moving average of $15.92. ProAssurance has a fifty-two week low of $10.76 and a fifty-two week high of $23.43. The firm has a market cap of $1.19 billion, a P/E ratio of 28.11 and a beta of 0.21.

ProAssurance (NYSE:PRA) last released its 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. ProAssurance had a return on equity of 2.65% and a net margin of 3.71%. The company had revenue of $287.52 million during the quarter, compared to analysts’ expectations of $274.56 million. Sell-side analysts predict that ProAssurance will post 0.8 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ProAssurance

A number of hedge funds and other institutional investors have recently bought and sold shares of PRA. FMR LLC lifted its stake in shares of 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 purchasing an additional 8,012 shares during the period. BNP Paribas Financial Markets increased its holdings in ProAssurance by 30.0% in the third quarter. BNP Paribas Financial Markets now owns 17,978 shares of the insurance provider’s stock valued at $270,000 after purchasing an additional 4,149 shares during the last quarter. Verition Fund Management LLC lifted its stake in ProAssurance by 164.1% in the third quarter. Verition Fund Management LLC now owns 36,589 shares of the insurance provider’s stock valued at $550,000 after buying an additional 22,737 shares during the period. Point72 Asia Singapore Pte. Ltd. lifted its stake in ProAssurance by 94.3% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 8,347 shares of the insurance provider’s stock valued at $126,000 after buying an additional 4,052 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC boosted its holdings in ProAssurance by 11.1% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 484,040 shares of the insurance provider’s stock worth $7,280,000 after buying an additional 48,290 shares during the last quarter. 85.58% of the stock is owned by institutional investors.

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.