Magnetar Financial LLC Has $84.19 Million Holdings in ProAssurance Corporation $PRA

Magnetar Financial LLC lifted its holdings in ProAssurance Corporation (NYSE:PRA) by 15.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,484,563 shares of the insurance provider’s stock after purchasing an additional 458,390 shares during the period. ProAssurance accounts for about 0.8% of Magnetar Financial LLC’s investment portfolio, making the stock its 14th biggest holding. Magnetar Financial LLC owned approximately 6.78% of ProAssurance worth $84,187,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of PRA. AQR Capital Management LLC lifted its stake in shares of ProAssurance by 40.4% in the 1st quarter. AQR Capital Management LLC now owns 134,641 shares of the insurance provider’s stock valued at $3,144,000 after purchasing an additional 38,756 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of ProAssurance by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,293 shares of the insurance provider’s stock valued at $707,000 after purchasing an additional 1,302 shares during the last quarter. Millennium Management LLC lifted its stake in shares of ProAssurance by 181.5% in the 1st quarter. Millennium Management LLC now owns 306,540 shares of the insurance provider’s stock valued at $7,158,000 after purchasing an additional 197,663 shares during the last quarter. Jones Financial Companies Lllp bought a new stake in ProAssurance during the first quarter worth approximately $600,000. Finally, Goldman Sachs Group Inc. boosted its position in ProAssurance by 47.6% during the first quarter. Goldman Sachs Group Inc. now owns 511,759 shares of the insurance provider’s stock worth $11,950,000 after purchasing an additional 165,024 shares during the period. Institutional investors and hedge funds own 85.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on PRA shares. Weiss Ratings raised ProAssurance from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, May 29th. Wall Street Zen cut ProAssurance from a “hold” rating to a “sell” rating in a research report on Sunday, May 10th. Finally, Zacks Research raised ProAssurance from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 24th. One research analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, ProAssurance currently has a consensus rating of “Buy”.

ProAssurance Trading Down 0.3%

Shares of PRA stock opened at $24.58 on Wednesday. ProAssurance Corporation has a 1 year low of $22.72 and a 1 year high of $24.85. The firm’s fifty day simple moving average is $24.55 and its 200 day simple moving average is $24.40. The firm has a market capitalization of $1.27 billion, a P/E ratio of 19.66 and a beta of 0.02. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.31.

ProAssurance (NYSE:PRA) last announced its 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. 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 analyst estimates of $216.86 million. During the same quarter in the previous year, the firm posted $0.13 earnings per share. ProAssurance’s revenue was down 3.5% compared to the same quarter last year. As a group, sell-side analysts predict that ProAssurance Corporation will post 1.25 EPS for the current 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.