Cannon Global Investment Management LLC acquired a new stake in ProAssurance Corporation (NYSE:PRA - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 15,500 shares of the insurance provider's stock, valued at approximately $354,000.
Other hedge funds have also made changes to their positions in the company. Quantbot Technologies LP acquired a new position in ProAssurance in the 1st quarter valued at about $47,000. GAMMA Investing LLC grew its stake in shares of ProAssurance by 307.3% in the 1st quarter. GAMMA Investing LLC now owns 2,073 shares of the insurance provider's stock valued at $48,000 after purchasing an additional 1,564 shares during the last quarter. CWM LLC grew its stake in shares of ProAssurance by 95.9% in the 1st quarter. CWM LLC now owns 2,204 shares of the insurance provider's stock valued at $51,000 after purchasing an additional 1,079 shares during the last quarter. Longfellow Investment Management Co. LLC acquired a new position in shares of ProAssurance in the first quarter valued at approximately $75,000. Finally, Wolverine Asset Management LLC purchased a new stake in shares of ProAssurance during the first quarter worth approximately $84,000. Institutional investors and hedge funds own 85.58% of the company's stock.
Wall Street Analysts Forecast Growth
PRA has been the topic of a number of analyst reports. Zacks Research upgraded shares of ProAssurance from a "hold" rating to a "strong-buy" rating in a research report on Monday, September 22nd. Weiss Ratings restated a "hold (c)" rating on shares of ProAssurance in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, ProAssurance currently has an average rating of "Hold" and an average target price of $21.50.
Check Out Our Latest Analysis on PRA
ProAssurance Stock Performance
Shares of PRA stock opened at $24.04 on Friday. The company has a market cap of $1.24 billion, a price-to-earnings ratio of 25.57 and a beta of 0.12. The stock has a 50 day simple moving average of $23.90 and a 200-day simple moving average of $23.49. ProAssurance Corporation has a 12-month low of $13.00 and a 12-month high of $24.22. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.33.
ProAssurance (NYSE:PRA - Get Free Report) last issued its earnings results on Friday, May 20th. The insurance provider reported $0.04 earnings per share (EPS) for the quarter. The business had revenue of $220.02 million during the quarter. ProAssurance had a return on equity of 5.62% and a net margin of 4.33%. On average, equities analysts forecast that ProAssurance Corporation will post 0.8 EPS for the current year.
ProAssurance Profile
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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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