Hsbc Holdings PLC Acquires 15,015 Shares of ProAssurance Co. (NYSE:PRA)

Hsbc Holdings PLC lifted its position in shares of ProAssurance Co. (NYSE:PRA - Free Report) by 66.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,759 shares of the insurance provider's stock after purchasing an additional 15,015 shares during the quarter. Hsbc Holdings PLC owned 0.07% of ProAssurance worth $604,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of PRA. Sterling Capital Management LLC raised its stake in 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 purchasing an additional 1,461 shares during the period. KBC Group NV grew its holdings in shares of ProAssurance by 75.4% during the fourth quarter. KBC Group NV now owns 4,184 shares of the insurance provider's stock worth $67,000 after buying an additional 1,798 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of ProAssurance in the fourth quarter valued at about $150,000. Scotia Capital Inc. acquired a new stake in ProAssurance in the fourth quarter valued at $173,000. Finally, Cornercap Investment Counsel Inc. purchased a new stake in shares of ProAssurance during the 4th quarter worth approximately $204,000. Institutional investors and hedge funds own 85.58% of the company's stock.

Analysts Set New Price Targets

Several research analysts have weighed in on PRA shares. Citizens Jmp downgraded ProAssurance from an "outperform" rating to a "market perform" rating in a report on Thursday, April 3rd. Citigroup lowered shares of ProAssurance to a "market perform" rating in a report on Thursday, April 3rd. Raymond James cut shares of ProAssurance from a "market perform" rating to an "underperform" rating in a report on Thursday, April 10th. StockNews.com initiated coverage on ProAssurance in a research report on Saturday, May 3rd. They issued a "hold" rating for the company. Finally, Piper Sandler raised their price target on ProAssurance from $18.00 to $25.00 and gave the stock a "neutral" rating in a report on Thursday. One 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. Based on data from MarketBeat.com, ProAssurance currently has an average rating of "Hold" and a consensus price target of $21.00.

ProAssurance Price Performance

PRA stock traded down $0.05 during trading on Thursday, hitting $22.92. 647,589 shares of the stock traded hands, compared to its average volume of 435,194. ProAssurance Co. has a one year low of $10.76 and a one year high of $23.70. The stock has a market cap of $1.17 billion, a price-to-earnings ratio of 27.61 and a beta of 0.04. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.35. The company has a 50 day simple moving average of $21.18 and a 200 day simple moving average of $17.55.

ProAssurance (NYSE:PRA - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The insurance provider reported $0.13 EPS for the quarter, missing analysts' consensus estimates of $0.19 by ($0.06). The firm had revenue of $236.28 million during the quarter, compared to the consensus estimate of $272.85 million. ProAssurance had a net margin of 3.71% and a return on equity of 2.65%. ProAssurance's quarterly revenue was down 4.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.08 EPS. Equities analysts expect that ProAssurance Co. will post 0.8 EPS for the current fiscal 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.