332,995 Shares in ProAssurance Corporation $PRA Acquired by Credit Industriel ET Commercial

Credit Industriel ET Commercial purchased a new position in ProAssurance Corporation (NYSE:PRA) during the 2nd quarter, HoldingsChannel reports. The firm purchased 332,995 shares of the insurance provider’s stock, valued at approximately $7,602,000. ProAssurance accounts for about 0.6% of Credit Industriel ET Commercial’s portfolio, making the stock its 21st largest holding.

Several other hedge funds have also made changes to their positions in the stock. Envestnet Portfolio Solutions Inc. bought a new stake in shares of ProAssurance in the 2nd quarter worth approximately $587,000. Inspire Investing LLC lifted its holdings in shares of ProAssurance by 16.0% in the 2nd quarter. Inspire Investing LLC now owns 17,113 shares of the insurance provider’s stock worth $391,000 after purchasing an additional 2,363 shares during the last quarter. State of Alaska Department of Revenue raised its stake in ProAssurance by 7.8% during the 2nd quarter. State of Alaska Department of Revenue now owns 30,552 shares of the insurance provider’s stock valued at $697,000 after acquiring an additional 2,207 shares in the last quarter. GAMMA Investing LLC raised its stake in ProAssurance by 50.7% during the 2nd quarter. GAMMA Investing LLC now owns 3,123 shares of the insurance provider’s stock valued at $71,000 after acquiring an additional 1,050 shares in the last quarter. Finally, Ellsworth Advisors LLC bought a new stake in ProAssurance during the 1st quarter valued at $955,000. Institutional investors own 85.58% of the company’s stock.

ProAssurance Stock Up 0.3%

PRA opened at $23.98 on Tuesday. ProAssurance Corporation has a one year low of $13.00 and a one year high of $24.22. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.26 and a current ratio of 0.26. The stock’s fifty day moving average is $23.89 and its 200-day moving average is $23.48. The company has a market capitalization of $1.23 billion, a PE ratio of 25.51 and a beta of 0.12.

ProAssurance (NYSE:PRA) last posted its quarterly earnings data on Friday, May 20th. The insurance provider reported $0.04 EPS for the quarter. ProAssurance had a return on equity of 5.62% and a net margin of 4.33%.The company had revenue of $220.02 million for the quarter. On average, equities analysts predict that ProAssurance Corporation will post 0.8 EPS for the current fiscal year.

Wall Street Analyst Weigh In

PRA has been the topic of several recent analyst reports. Zacks Research raised ProAssurance from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 22nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of ProAssurance in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, ProAssurance has an average rating of “Hold” and an average price target of $21.50.

ProAssurance Profile

ProAssurance Corporation, through its subsidiaries, provides property and casualty insurance, and reinsurance products in the United States. The company operates through Specialty Property and Casualty, Workers’ Compensation Insurance, and Segregated Portfolio Cell Reinsurance segments. It offers professional liability insurance to healthcare providers and institutions, and attorneys and their firms; medical technology liability insurance to medical technology and life sciences companies; and custom alternative risk solutions, including assumed reinsurance, loss portfolio transfers, and captive cell programs for healthcare professional liability insureds.