First Citizens Bank & Trust Co. lifted its position in ProAssurance Corporation (NYSE:PRA - Free Report) by 203.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,651 shares of the insurance provider's stock after buying an additional 17,881 shares during the quarter. First Citizens Bank & Trust Co. owned approximately 0.05% of ProAssurance worth $608,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of PRA. Magnetar Financial LLC purchased a new stake in ProAssurance in the first quarter valued at approximately $54,121,000. Alliancebernstein L.P. grew its position in ProAssurance by 2,035.6% during the first quarter. Alliancebernstein L.P. now owns 1,516,479 shares of the insurance provider's stock valued at $35,410,000 after acquiring an additional 1,445,469 shares during the last quarter. TIG Advisors LLC bought a new position in ProAssurance during the first quarter valued at approximately $15,039,000. Goldman Sachs Group Inc. grew its position in ProAssurance by 47.6% during the first quarter. Goldman Sachs Group Inc. now owns 511,759 shares of the insurance provider's stock valued at $11,950,000 after acquiring an additional 165,024 shares during the last quarter. Finally, American Century Companies Inc. grew its holdings in shares of ProAssurance by 14.0% in the first quarter. American Century Companies Inc. now owns 446,311 shares of the insurance provider's stock worth $10,421,000 after purchasing an additional 54,702 shares during the last quarter. 85.58% of the stock is owned by hedge funds and other institutional investors.
ProAssurance Stock Performance
Shares of ProAssurance stock opened at $24.11 on Friday. 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 firm has a market capitalization of $1.24 billion, a P/E ratio of 25.64 and a beta of 0.12. The business has a fifty day simple moving average of $23.91 and a two-hundred day simple moving average of $23.53. ProAssurance Corporation has a 12 month low of $13.00 and a 12 month high of $24.22.
ProAssurance (NYSE:PRA - Get Free Report) last announced its quarterly earnings data on Friday, May 20th. The insurance provider reported $0.04 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 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
Several brokerages have recently issued reports on PRA. Zacks Research upgraded shares of ProAssurance from a "hold" rating to a "strong-buy" rating in a report on Monday, September 22nd. Weiss Ratings restated a "hold (c)" rating on shares of ProAssurance in a report on Saturday. One 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 company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $21.50.
Check Out Our Latest Report on ProAssurance
ProAssurance Profile
(
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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