UBS Group AG Lowers Holdings in ProAssurance Corporation $PRA

UBS Group AG cut its position in ProAssurance Corporation (NYSE:PRA) by 41.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 362,287 shares of the insurance provider’s stock after selling 253,789 shares during the quarter. UBS Group AG owned about 0.70% of ProAssurance worth $8,753,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Russell Investments Group Ltd. lifted its stake in ProAssurance by 356.2% in the 2nd quarter. Russell Investments Group Ltd. now owns 1,405 shares of the insurance provider’s stock worth $32,000 after purchasing an additional 1,097 shares in the last quarter. Cornerstone Planning Group LLC lifted its stake in ProAssurance by 12,152.2% in the 3rd quarter. Cornerstone Planning Group LLC now owns 2,818 shares of the insurance provider’s stock worth $68,000 after purchasing an additional 2,795 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake in ProAssurance by 271.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,576 shares of the insurance provider’s stock worth $127,000 after purchasing an additional 4,074 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in ProAssurance by 22.8% in the 2nd quarter. BNP Paribas Financial Markets now owns 5,679 shares of the insurance provider’s stock worth $130,000 after purchasing an additional 1,056 shares in the last quarter. Finally, Longfellow Investment Management Co. LLC lifted its stake in ProAssurance by 95.2% in the 3rd quarter. Longfellow Investment Management Co. LLC now owns 6,253 shares of the insurance provider’s stock worth $150,000 after purchasing an additional 3,050 shares in the last quarter. 85.58% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PRA has been the topic of several recent analyst reports. Wall Street Zen cut shares of ProAssurance from a “hold” rating to a “sell” rating in a research note on Sunday, May 10th. Weiss Ratings restated a “hold (c)” rating on shares of ProAssurance in a research report on Thursday, January 22nd. Finally, Zacks Research upgraded shares of ProAssurance from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 24th. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, ProAssurance has a consensus rating of “Buy”.

ProAssurance Stock Performance

ProAssurance stock opened at $24.52 on Monday. The firm’s fifty day moving average price is $24.60 and its 200-day moving average price is $24.33. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.27 and a current ratio of 0.27. The stock has a market cap of $1.27 billion, a P/E ratio of 19.61 and a beta of 0.04. ProAssurance Corporation has a fifty-two week low of $22.72 and a fifty-two week high of $24.85.

ProAssurance (NYSE:PRA) last issued its earnings results on Tuesday, May 5th. The insurance provider reported $0.25 EPS for the quarter, hitting analysts’ consensus estimates of $0.25. The company had revenue of $262.63 million for the quarter, compared to analysts’ expectations of $216.86 million. ProAssurance had a net margin of 5.99% and a return on equity of 6.82%. The firm’s revenue was down 3.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.13 EPS. On average, equities research analysts expect that ProAssurance Corporation will post 1.09 earnings per share for the current fiscal year.

ProAssurance Profile

ProAssurance Corporation is a specialty property and casualty insurance holding company headquartered in Birmingham, Alabama. The company focuses primarily on professional liability coverage for healthcare providers, including physicians, surgeons, dentists and allied health professionals. ProAssurance operates through a group of insurance subsidiaries that underwrite both occurrence- and claims-made policies tailored to the unique risks faced by the medical community.

In addition to professional liability insurance, ProAssurance offers a suite of complementary property and casualty products, such as general liability, workers’ compensation, property and inland marine, and umbrella coverage.