100,000 Shares in ProAssurance Corporation $PRA Purchased by Eisler Capital Management Ltd.

Key Points

• Eisler Capital Management Ltd. purchased 100,000 shares of ProAssurance Corporation valued at approximately $2.33 million, representing a small ownership stake of 0.19% in the company.
• Several institutional investors, including Deutsche Bank AG and UBS AM, have increased their holdings in ProAssurance, contributing to a total institutional ownership of 85.58%.
• ProAssurance recently reported earnings of $0.52 per share, substantially beating analysts' expectations, despite a 19.9% year-over-year decline in revenue.

Eisler Capital Management Ltd. acquired a new position in ProAssurance Corporation (NYSE:PRA - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 100,000 shares of the insurance provider's stock, valued at approximately $2,334,000. Eisler Capital Management Ltd. owned about 0.19% of ProAssurance at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of PRA. Wells Fargo & Company MN boosted its position in ProAssurance by 19.6% in the fourth quarter. Wells Fargo & Company MN now owns 40,164 shares of the insurance provider's stock worth $639,000 after purchasing an additional 6,583 shares during the last quarter. Envestnet Asset Management Inc. purchased a new position in ProAssurance in the fourth quarter worth $228,000. Barclays PLC boosted its position in ProAssurance by 6.8% in the fourth quarter. Barclays PLC now owns 90,894 shares of the insurance provider's stock worth $1,447,000 after purchasing an additional 5,777 shares during the last quarter. Mariner LLC boosted its position in ProAssurance by 4.2% in the fourth quarter. Mariner LLC now owns 17,007 shares of the insurance provider's stock worth $271,000 after purchasing an additional 688 shares during the last quarter. Finally, Marshall Wace LLP boosted its position in ProAssurance by 21.0% in the fourth quarter. Marshall Wace LLP now owns 29,091 shares of the insurance provider's stock worth $463,000 after purchasing an additional 5,040 shares during the last quarter. Hedge funds and other institutional investors own 85.58% of the company's stock.

Analyst Ratings Changes

Several research analysts have weighed in on PRA shares. Wall Street Zen started coverage on ProAssurance in a research report on Monday, May 19th. They issued a "hold" rating on the stock. Zacks Research raised ProAssurance from a "strong sell" rating to a "hold" rating in a research report on Wednesday, August 20th. Finally, Piper Sandler upped their price target on ProAssurance from $18.00 to $25.00 and gave the company a "neutral" rating in a research report on Thursday, May 8th. Five equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Reduce" and an average target price of $21.50.

ProAssurance Stock Performance

Shares of NYSE PRA traded up $0.04 during trading on Friday, reaching $23.82. 375,133 shares of the stock traded hands, compared to its average volume of 503,686. ProAssurance Corporation has a 52-week low of $12.43 and a 52-week high of $24.14. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.26 and a quick ratio of 0.26. The company has a 50-day moving average of $23.68 and a 200-day moving average of $21.94. The stock has a market capitalization of $1.22 billion, a P/E ratio of 25.34 and a beta of 0.13.

ProAssurance (NYSE:PRA - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The insurance provider reported $0.52 EPS for the quarter, beating analysts' consensus estimates of $0.19 by $0.33. ProAssurance had a return on equity of 5.62% and a net margin of 4.33%.The firm had revenue of $271.94 million for the quarter, compared to analysts' expectations of $266.72 million. During the same quarter in the prior year, the firm earned $0.23 EPS. The business's revenue for the quarter was down 19.9% compared to the same quarter last year. Analysts forecast that ProAssurance Corporation will post 0.8 EPS for the current fiscal year.

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.