ProAssurance Corporation $PRA Shares Purchased by Hsbc Holdings PLC

Hsbc Holdings PLC lifted its holdings in ProAssurance Corporation (NYSE:PRA) by 7.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,047,160 shares of the insurance provider’s stock after buying an additional 74,870 shares during the period. Hsbc Holdings PLC’s holdings in ProAssurance were worth $25,289,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently 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. Tower Research Capital LLC TRC grew its position in shares of ProAssurance by 271.2% in the second quarter. Tower Research Capital LLC TRC now owns 5,576 shares of the insurance provider’s stock valued at $127,000 after purchasing an additional 4,074 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in shares of ProAssurance by 22.8% in the second quarter. BNP Paribas Financial Markets now owns 5,679 shares of the insurance provider’s stock valued at $130,000 after purchasing an additional 1,056 shares during the last quarter. Longfellow Investment Management Co. LLC increased its holdings in shares of ProAssurance by 95.2% in the third quarter. Longfellow Investment Management Co. LLC now owns 6,253 shares of the insurance provider’s stock valued at $150,000 after purchasing an additional 3,050 shares during the last quarter. Finally, Kestra Advisory Services LLC purchased a new position in ProAssurance during the fourth quarter worth approximately $191,000. 85.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently commented on PRA. Wall Street Zen lowered ProAssurance from a “hold” rating to a “sell” rating in a report on Sunday, May 10th. Weiss Ratings upgraded shares of ProAssurance from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, May 29th. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, ProAssurance has an average rating of “Buy”.

ProAssurance Trading Up 1.4%

Shares of NYSE PRA opened at $25.00 on Thursday. ProAssurance Corporation has a twelve month low of $22.79 and a twelve month high of $25.02. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.31. The stock has a fifty day simple moving average of $24.59 and a 200-day simple moving average of $24.43. The stock has a market capitalization of $1.29 billion, a PE ratio of 20.00 and a beta of 0.02.

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

About ProAssurance

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.