Hsbc Holdings PLC Acquires 15,015 Shares of ProAssurance Co. (NYSE:PRA)

Hsbc Holdings PLC grew its stake in shares of ProAssurance Co. (NYSE:PRA) by 66.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,759 shares of the insurance provider’s stock after buying an additional 15,015 shares during the period. Hsbc Holdings PLC owned 0.07% of ProAssurance worth $604,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Sterling Capital Management LLC lifted its stake in ProAssurance by 859.4% in the 4th quarter. Sterling Capital Management LLC now owns 1,631 shares of the insurance provider’s stock worth $26,000 after purchasing an additional 1,461 shares in the last quarter. KBC Group NV lifted its position in shares of ProAssurance by 75.4% in the fourth quarter. KBC Group NV now owns 4,184 shares of the insurance provider’s stock worth $67,000 after buying an additional 1,798 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in ProAssurance during the fourth quarter valued at approximately $150,000. Scotia Capital Inc. purchased a new position in ProAssurance during the 4th quarter valued at approximately $173,000. Finally, Cornercap Investment Counsel Inc. bought a new stake in ProAssurance in the 4th quarter worth approximately $204,000. Hedge funds and other institutional investors own 85.58% of the company’s stock.

ProAssurance Trading Down 0.0 %

Shares of PRA opened at $22.99 on Tuesday. The firm has a market capitalization of $1.18 billion, a price-to-earnings ratio of 27.70 and a beta of 0.04. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.28 and a quick ratio of 0.28. ProAssurance Co. has a 1-year low of $10.76 and a 1-year high of $23.70. The company has a 50-day moving average of $20.88 and a 200 day moving average of $17.47.

ProAssurance (NYSE:PRA) last issued its earnings results on Monday, February 24th. The insurance provider reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.19. ProAssurance had a return on equity of 2.65% and a net margin of 3.71%. The business had revenue of $287.52 million during the quarter, compared to analyst estimates of $274.56 million. On average, research analysts expect that ProAssurance Co. will post 0.8 EPS for the current year.

Wall Street Analyst Weigh In

PRA has been the subject of a number of recent research reports. Citigroup lowered shares of ProAssurance to a “market perform” rating in a report on Thursday, April 3rd. StockNews.com initiated coverage on shares of ProAssurance in a report on Saturday. They issued a “hold” rating on the stock. Citizens Jmp downgraded shares of ProAssurance from an “outperform” rating to a “market perform” rating in a report on Thursday, April 3rd. Finally, Raymond James downgraded ProAssurance from a “market perform” rating to an “underperform” rating in a research report on Thursday, April 10th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $18.67.

About ProAssurance

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.