ProAssurance Corporation $PRA Shares Sold by AlphaQuest LLC

Key Points

• AlphaQuest LLC has significantly reduced its stake in ProAssurance Corporation by 78.9%, ending up with only 5,587 shares valued at $130,000 after selling over 20,000 shares.
• Despite the decrease in AlphaQuest's holdings, other institutional investors have been active, with GAMMA Investing LLC increasing their position by 307.3% during the same period.
• ProAssurance reported earnings of $0.52 per share, outperforming expectations by $0.33, but has seen a 19.9% decline in revenue year-over-year.

AlphaQuest LLC trimmed its holdings in shares of ProAssurance Corporation (NYSE:PRA - Free Report) by 78.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,587 shares of the insurance provider's stock after selling 20,840 shares during the quarter. AlphaQuest LLC's holdings in ProAssurance were worth $130,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of PRA. Quantbot Technologies LP acquired a new stake in ProAssurance during the 1st quarter valued at approximately $47,000. GAMMA Investing LLC boosted its stake in shares of ProAssurance by 307.3% during the 1st quarter. GAMMA Investing LLC now owns 2,073 shares of the insurance provider's stock valued at $48,000 after buying an additional 1,564 shares during the last quarter. CWM LLC grew its position in shares of ProAssurance by 95.9% during the first quarter. CWM LLC now owns 2,204 shares of the insurance provider's stock worth $51,000 after buying an additional 1,079 shares in the last quarter. Longfellow Investment Management Co. LLC bought a new stake in shares of ProAssurance in the first quarter worth $75,000. Finally, Wolverine Asset Management LLC bought a new stake in shares of ProAssurance in the first quarter worth $84,000. Institutional investors and hedge funds own 85.58% of the company's stock.

ProAssurance Stock Performance

PRA traded up $0.01 on Friday, hitting $23.77. 380,452 shares of the company's stock were exchanged, compared to its average volume of 431,809. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.33. The stock has a fifty day moving average of $23.77 and a two-hundred day moving average of $22.21. ProAssurance Corporation has a twelve month low of $12.43 and a twelve month high of $24.14. The firm has a market cap of $1.22 billion, a PE ratio of 25.28 and a beta of 0.12.

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

Analysts Set New Price Targets

PRA has been the subject of several recent analyst reports. Zacks Research raised shares of ProAssurance from a "strong sell" rating to a "hold" rating in a report on Wednesday, August 20th. Wall Street Zen began coverage on ProAssurance in a research note on Monday, May 19th. They issued a "hold" rating for the company. Five analysts have rated the stock with a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Reduce" and a consensus price target of $21.50.

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.