GAMMA Investing LLC Purchases 47,896 Shares of ProAssurance Corporation (NYSE:PRA)

GAMMA Investing LLC raised its holdings in ProAssurance Corporation (NYSE:PRA - Free Report) by 9,409.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 48,405 shares of the insurance provider's stock after acquiring an additional 47,896 shares during the period. GAMMA Investing LLC owned about 0.09% of ProAssurance worth $1,130,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Sterling Capital Management LLC increased its holdings in shares of ProAssurance by 859.4% during the fourth quarter. Sterling Capital Management LLC now owns 1,631 shares of the insurance provider's stock worth $26,000 after buying an additional 1,461 shares in the last quarter. Aquatic Capital Management LLC grew its position in ProAssurance by 148.6% during the 4th quarter. Aquatic Capital Management LLC now owns 6,214 shares of the insurance provider's stock worth $99,000 after acquiring an additional 3,714 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in ProAssurance in the 4th quarter worth about $150,000. Scotia Capital Inc. bought a new position in ProAssurance in the fourth quarter valued at about $173,000. Finally, Bayesian Capital Management LP acquired a new stake in shares of ProAssurance during the fourth quarter valued at about $177,000. Institutional investors and hedge funds own 85.58% of the company's stock.

Analyst Ratings Changes

PRA has been the subject of a number of research reports. Piper Sandler raised their price objective on shares of ProAssurance from $18.00 to $25.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. Raymond James Financial downgraded shares of ProAssurance from a "market perform" rating to an "underperform" rating in a research note on Thursday, April 10th. Citizens Jmp lowered shares of ProAssurance from an "outperform" rating to a "market perform" rating in a report on Thursday, April 3rd. Citigroup downgraded ProAssurance to a "market perform" rating in a report on Thursday, April 3rd. Finally, Wall Street Zen began coverage on ProAssurance in a research report on Monday, May 19th. They set a "hold" rating for the company. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat, ProAssurance has a consensus rating of "Hold" and an average target price of $21.00.

ProAssurance Trading Up 0.1%

Shares of PRA stock traded up $0.03 during mid-day trading on Thursday, hitting $22.91. The company's stock had a trading volume of 283,158 shares, compared to its average volume of 463,025. The company's fifty day simple moving average is $23.09 and its 200-day simple moving average is $19.00. ProAssurance Corporation has a 52 week low of $10.76 and a 52 week high of $23.70. The company has a market cap of $1.17 billion, a PE ratio of 27.93 and a beta of 0.14. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.26 and a current ratio of 0.26.

ProAssurance (NYSE:PRA - Get Free Report) last released its earnings results on Tuesday, May 6th. The insurance provider reported $0.13 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.19 by ($0.06). The company had revenue of $236.28 million for the quarter, compared to analyst estimates of $272.85 million. ProAssurance had a net margin of 3.72% and a return on equity of 4.51%. The firm's revenue was down 4.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.08 EPS. As a group, equities research analysts expect that ProAssurance Corporation will post 0.8 earnings per share for the current fiscal year.

ProAssurance 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.