Inspire Investing LLC Has $391,000 Stock Holdings in ProAssurance Corporation $PRA

Inspire Investing LLC increased its stake in shares of ProAssurance Corporation (NYSE:PRA) by 16.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,113 shares of the insurance provider’s stock after purchasing an additional 2,363 shares during the quarter. Inspire Investing LLC’s holdings in ProAssurance were worth $391,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC increased its position in ProAssurance by 307.3% during the 1st quarter. GAMMA Investing LLC now owns 2,073 shares of the insurance provider’s stock worth $48,000 after purchasing an additional 1,564 shares in the last quarter. Alpine Associates Management Inc. bought a new stake in ProAssurance during the 1st quarter worth approximately $5,167,000. Victory Capital Management Inc. bought a new stake in ProAssurance during the 1st quarter worth approximately $209,000. Hsbc Holdings PLC grew its holdings in ProAssurance by 76.4% during the 1st quarter. Hsbc Holdings PLC now owns 66,620 shares of the insurance provider’s stock worth $1,553,000 after acquiring an additional 28,861 shares during the last quarter. Finally, Ellsworth Advisors LLC bought a new stake in ProAssurance during the 1st quarter worth approximately $955,000. 85.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on PRA shares. Zacks Research raised shares of ProAssurance from a “hold” rating to a “strong-buy” rating in a report on Monday, September 22nd. Weiss Ratings reissued a “hold (c)” rating on shares of ProAssurance in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $21.50.

ProAssurance Stock Up 0.3%

Shares of NYSE PRA opened at $24.05 on Wednesday. The company has a market capitalization of $1.24 billion, a P/E ratio of 25.58 and a beta of 0.12. ProAssurance Corporation has a 52-week low of $13.00 and a 52-week high of $24.22. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.26 and a current ratio of 0.26. The company’s 50 day moving average price is $23.89 and its 200-day moving average price is $23.48.

ProAssurance (NYSE:PRA) last issued its quarterly earnings results on Friday, May 20th. The insurance provider reported $0.04 earnings per share (EPS) for the quarter. The firm had revenue of $220.02 million for the quarter. ProAssurance had a net margin of 4.33% and a return on equity of 5.62%. Equities analysts forecast that ProAssurance Corporation will post 0.8 earnings per share for the current year.

About ProAssurance

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.