Summit X LLC Invests $382,000 in ProAssurance Co. (NYSE:PRA)

Summit X LLC bought a new position in shares of ProAssurance Co. (NYSE:PRA) in the fourth quarter, Holdings Channel reports. The firm bought 24,015 shares of the insurance provider’s stock, valued at approximately $382,000.

A number of other institutional investors have also modified their holdings of the company. Barclays PLC boosted its holdings in ProAssurance by 307.5% in the 3rd quarter. Barclays PLC now owns 85,117 shares of the insurance provider’s stock worth $1,280,000 after acquiring an additional 64,228 shares during the period. State Street Corp boosted its holdings in ProAssurance by 1.8% in the 3rd quarter. State Street Corp now owns 1,968,754 shares of the insurance provider’s stock worth $29,610,000 after acquiring an additional 34,247 shares during the period. JPMorgan Chase & Co. boosted its holdings in ProAssurance by 34.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 253,175 shares of the insurance provider’s stock worth $3,808,000 after acquiring an additional 65,325 shares during the period. FMR LLC boosted its holdings in ProAssurance by 197.8% in the 3rd quarter. FMR LLC now owns 12,063 shares of the insurance provider’s stock worth $181,000 after acquiring an additional 8,012 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in ProAssurance by 402.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 68,435 shares of the insurance provider’s stock worth $1,029,000 after acquiring an additional 54,806 shares during the period. Hedge funds and other institutional investors own 85.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded ProAssurance from a “hold” rating to a “buy” rating in a report on Thursday, March 6th.

ProAssurance Stock Performance

Shares of PRA opened at $15.16 on Thursday. The business’s 50 day moving average is $15.05 and its two-hundred day moving average is $15.19. ProAssurance Co. has a 52-week low of $10.76 and a 52-week high of $17.79. The firm has a market cap of $775.28 million, a price-to-earnings ratio of 18.26 and a beta of 0.21. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.35.

ProAssurance (NYSE:PRA) last announced its earnings results on Monday, February 24th. The insurance provider reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.19. ProAssurance had a return on equity of 2.65% and a net margin of 3.71%. The company had revenue of $287.52 million for the quarter, compared to analyst estimates of $274.56 million. Analysts forecast that ProAssurance Co. will post 0.8 EPS 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.