Future Fund LLC Purchases New Stake in ProAssurance Corporation $PRA

Future Fund LLC purchased a new stake in ProAssurance Corporation (NYSE:PRA) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 20,837 shares of the insurance provider’s stock, valued at approximately $515,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Principal Financial Group Inc. lifted its stake in shares of ProAssurance by 2.0% in the first quarter. Principal Financial Group Inc. now owns 249,891 shares of the insurance provider’s stock valued at $6,177,000 after buying an additional 4,865 shares in the last quarter. Fifth Third Bancorp increased its position in shares of ProAssurance by 20,388.9% during the first quarter. Fifth Third Bancorp now owns 11,064 shares of the insurance provider’s stock worth $274,000 after acquiring an additional 11,010 shares in the last quarter. Hsbc Holdings PLC increased its position in shares of ProAssurance by 50.3% during the first quarter. Hsbc Holdings PLC now owns 1,573,422 shares of the insurance provider’s stock worth $38,879,000 after acquiring an additional 526,262 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in shares of ProAssurance in the 1st quarter worth about $903,000. Finally, Mitchell Mcleod Pugh & Williams Inc. raised its holdings in shares of ProAssurance by 2.7% in the 1st quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 27,815 shares of the insurance provider’s stock worth $688,000 after acquiring an additional 734 shares during the last quarter. Institutional investors own 85.58% of the company’s stock.

ProAssurance Price Performance

PRA opened at $25.00 on Friday. ProAssurance Corporation has a 1 year low of $22.79 and a 1 year high of $25.01. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.27 and a quick ratio of 0.27. The company has a market capitalization of $1.29 billion, a price-to-earnings ratio of 20.00 and a beta of 0.02. The firm’s fifty day moving average price is $24.70 and its two-hundred day moving average price is $24.54.

ProAssurance (NYSE:PRA) last announced its earnings results on Tuesday, May 5th. The insurance provider reported $0.25 EPS for the quarter, meeting the consensus estimate of $0.25. ProAssurance had a net margin of 5.99% and a return on equity of 6.82%. The company had revenue of $262.63 million during the quarter, compared to the consensus estimate of $216.86 million. During the same quarter in the prior year, the company posted $0.13 earnings per share. The firm’s revenue for the quarter was down 3.5% on a year-over-year basis. As a group, analysts anticipate that ProAssurance Corporation will post 1.25 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

PRA has been the subject of a number of analyst reports. Weiss Ratings upgraded ProAssurance from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, May 29th. Wall Street Zen downgraded ProAssurance from a “hold” rating to a “sell” rating in a research note on Sunday, May 10th. One analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy”.

ProAssurance Company 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.