ProAssurance Corporation $PRA Shares Purchased by Hsbc Holdings PLC

Hsbc Holdings PLC raised its position in ProAssurance Corporation (NYSE:PRA) by 50.3% during the 1st quarter, HoldingsChannel.com reports. The firm owned 1,573,422 shares of the insurance provider’s stock after acquiring an additional 526,262 shares during the period. Hsbc Holdings PLC’s holdings in ProAssurance were worth $38,879,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. Russell Investments Group Ltd. lifted its holdings in ProAssurance by 356.2% in the second quarter. Russell Investments Group Ltd. now owns 1,405 shares of the insurance provider’s stock valued at $32,000 after acquiring an additional 1,097 shares during the last quarter. Tower Research Capital LLC TRC grew its position in ProAssurance by 271.2% in the second quarter. Tower Research Capital LLC TRC now owns 5,576 shares of the insurance provider’s stock worth $127,000 after acquiring an additional 4,074 shares during the period. BNP Paribas Financial Markets increased its stake in ProAssurance by 22.8% during the second quarter. BNP Paribas Financial Markets now owns 5,679 shares of the insurance provider’s stock worth $130,000 after acquiring an additional 1,056 shares during the last quarter. Kestra Advisory Services LLC acquired a new stake in ProAssurance during the fourth quarter worth $191,000. Finally, GAMMA Investing LLC raised its position in ProAssurance by 90.5% in the fourth quarter. GAMMA Investing LLC now owns 8,075 shares of the insurance provider’s stock valued at $195,000 after purchasing an additional 3,837 shares during the period. Hedge funds and other institutional investors own 85.58% of the company’s stock.

Analyst Upgrades and Downgrades

PRA has been the subject of several research analyst reports. Wall Street Zen lowered shares of ProAssurance from a “hold” rating to a “sell” rating in a research note on Sunday, May 10th. Weiss Ratings upgraded shares of ProAssurance from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, May 29th. One investment analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy”.

ProAssurance Price Performance

Shares of NYSE:PRA opened at $25.00 on Tuesday. ProAssurance Corporation has a fifty-two week low of $22.79 and a fifty-two week high of $25.01. The firm’s 50 day moving average price is $24.71 and its 200 day moving average price is $24.55. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.31. The stock has a market cap of $1.29 billion, a price-to-earnings ratio of 20.00 and a beta of 0.02.

ProAssurance (NYSE:PRA) last announced its quarterly earnings results on Tuesday, May 5th. The insurance provider reported $0.25 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.25. The company had revenue of $262.63 million during the quarter, compared to the consensus estimate 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 business earned $0.13 EPS. As a group, equities research analysts predict that ProAssurance Corporation will post 1.25 earnings per share for the current fiscal year.

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.