Credit Industriel ET Commercial Takes Position in ProAssurance Corporation $PRA

Key Points

• Credit Industriel ET Commercial has acquired a new stake in ProAssurance Corporation, purchasing 332,995 shares valued at approximately $7.6 million, making the stock its 21st biggest holding.
• ProAssurance Corporation has received mixed ratings from analysts, with Zacks Research upgrading it to a "strong-buy" while the consensus rating remains a "hold" with an average target price of $21.50.
• The company's stock opened at $23.98 with a market cap of $1.23 billion, showing a significant increase in shares owned by institutional investors, now at 85.58% of total stock.

Credit Industriel ET Commercial bought a new stake in ProAssurance Corporation (NYSE:PRA - Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 332,995 shares of the insurance provider's stock, valued at approximately $7,602,000. ProAssurance makes up about 0.6% of Credit Industriel ET Commercial's holdings, making the stock its 21st biggest holding. Credit Industriel ET Commercial owned about 0.65% of ProAssurance as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Quantbot Technologies LP acquired a new stake in ProAssurance during the 1st quarter valued at approximately $47,000. GAMMA Investing LLC grew its stake in 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 purchasing an additional 1,564 shares in the last quarter. CWM LLC grew its stake in ProAssurance by 95.9% during 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 in the last quarter. Longfellow Investment Management Co. LLC acquired a new stake in ProAssurance during the 1st quarter valued at approximately $75,000. Finally, Wolverine Asset Management LLC acquired a new stake in ProAssurance during the 1st quarter valued at approximately $84,000. Institutional investors and hedge funds own 85.58% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Zacks Research upgraded ProAssurance from a "hold" rating to a "strong-buy" rating in a research note 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 assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $21.50.

ProAssurance Price Performance

Shares of PRA opened at $23.98 on Tuesday. The firm has a market cap of $1.23 billion, a price-to-earnings ratio of 25.51 and a beta of 0.12. The stock has a 50 day moving average of $23.89 and a 200-day moving average of $23.48. 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 Corporation has a 52 week low of $13.00 and a 52 week high of $24.22.

ProAssurance (NYSE:PRA - Get Free Report) last issued its earnings results on Friday, May 20th. The insurance provider reported $0.04 EPS for the quarter. The company 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%. As a group, analysts forecast that ProAssurance Corporation will post 0.8 EPS for the current year.

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.

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