ProAssurance Co. (NYSE:PRA) Short Interest Up 26.4% in March

ProAssurance Co. (NYSE:PRA) saw a significant growth in short interest in March. As of March 15th, there was short interest totalling 629,700 shares, a growth of 26.4% from the February 28th total of 498,300 shares. Based on an average trading volume of 593,200 shares, the short-interest ratio is presently 1.1 days. Currently, 1.3% of the company’s stock are sold short.

ProAssurance Stock Up 0.1 %

NYSE PRA traded up $0.02 during trading on Wednesday, hitting $23.37. The stock had a trading volume of 638,028 shares, compared to its average volume of 369,543. ProAssurance has a 12 month low of $10.76 and a 12 month high of $23.71. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.28 and a current ratio of 0.28. The company’s 50-day moving average price is $16.55 and its two-hundred day moving average price is $15.92. The company has a market capitalization of $1.20 billion, a PE ratio of 28.16 and a beta of 0.21.

ProAssurance (NYSE:PRA) last announced its quarterly earnings data on Monday, February 24th. The insurance provider reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.19. ProAssurance had a net margin of 3.71% and a return on equity of 2.65%. The business had revenue of $287.52 million for the quarter, compared to analyst estimates of $274.56 million. As a group, sell-side analysts forecast that ProAssurance will post 0.8 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, StockNews.com began coverage on shares of ProAssurance in a research note on Tuesday. They issued a “hold” rating for the company.

Institutional Trading of ProAssurance

A number of hedge funds and other institutional investors have recently modified their holdings of PRA. Sterling Capital Management LLC grew its stake in ProAssurance by 859.4% in the fourth quarter. Sterling Capital Management LLC now owns 1,631 shares of the insurance provider’s stock valued at $26,000 after purchasing an additional 1,461 shares in the last quarter. KBC Group NV boosted its holdings in shares of ProAssurance by 75.4% in the 4th quarter. KBC Group NV now owns 4,184 shares of the insurance provider’s stock valued at $67,000 after buying an additional 1,798 shares during the last quarter. Aquatic Capital Management LLC boosted its holdings in shares of ProAssurance by 148.6% in the 4th quarter. Aquatic Capital Management LLC now owns 6,214 shares of the insurance provider’s stock valued at $99,000 after buying an additional 3,714 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. grew its stake in shares of ProAssurance by 94.3% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 8,347 shares of the insurance provider’s stock valued at $126,000 after buying an additional 4,052 shares in the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new position in ProAssurance during the fourth quarter worth $150,000. Institutional investors and hedge funds own 85.58% of the company’s stock.

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.