Groupe la Francaise Increases Stake in ProAssurance Corporation $PRA

Groupe la Francaise increased its stake in ProAssurance Corporation (NYSE:PRA) by 66.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 438,577 shares of the insurance provider’s stock after acquiring an additional 175,382 shares during the period. Groupe la Francaise owned approximately 0.85% of ProAssurance worth $10,842,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Russell Investments Group Ltd. boosted its holdings in shares of ProAssurance by 356.2% in the 2nd quarter. Russell Investments Group Ltd. now owns 1,405 shares of the insurance provider’s stock valued at $32,000 after purchasing an additional 1,097 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of ProAssurance by 173.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,897 shares of the insurance provider’s stock worth $47,000 after purchasing an additional 1,204 shares during the period. Tower Research Capital LLC TRC grew its holdings in shares of ProAssurance by 271.2% during 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 during the period. BNP Paribas Financial Markets increased its position in ProAssurance by 22.8% during 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, Kestra Advisory Services LLC purchased a new position in ProAssurance in the fourth quarter valued at approximately $191,000. 85.58% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have issued reports on PRA. Weiss Ratings upgraded shares of ProAssurance from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, May 29th. Wall Street Zen downgraded shares of 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, the company presently has an average rating of “Buy”.

ProAssurance Price Performance

PRA stock opened at $25.00 on Friday. The firm has a market cap of $1.29 billion, a P/E ratio of 20.00 and a beta of 0.02. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.27 and a current ratio of 0.27. ProAssurance Corporation has a 1 year low of $22.79 and a 1 year high of $25.01. The stock has a 50-day simple moving average of $24.77 and a 200-day simple moving average of $24.60.

ProAssurance (NYSE:PRA) last released its quarterly earnings results on Tuesday, May 5th. The insurance provider reported $0.25 EPS for the quarter, hitting the consensus estimate of $0.25. The firm had revenue of $262.63 million for the quarter, compared to analyst estimates of $216.86 million. ProAssurance had a return on equity of 6.82% and a net margin of 5.99%.ProAssurance’s revenue for the quarter was down 3.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.13 EPS. On average, equities analysts predict that ProAssurance Corporation will post 1.25 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.