ProAssurance Co. (NYSE:PRA) Short Interest Update

ProAssurance Co. (NYSE:PRA) was the recipient of a large increase in short interest in the month of March. As of March 15th, there was short interest totalling 629,700 shares, an increase of 26.4% from the February 28th total of 498,300 shares. Currently, 1.3% of the shares of the company are short sold. Based on an average daily volume of 593,200 shares, the days-to-cover ratio is currently 1.1 days.

Analysts Set New Price Targets

Separately, StockNews.com started coverage on ProAssurance in a report on Tuesday. They issued a “hold” rating on the stock.

ProAssurance Trading Down 0.0 %

PRA stock traded down $0.01 during trading on Tuesday, reaching $23.35. 123,347 shares of the stock traded hands, compared to its average volume of 366,167. The business’s 50 day moving average price is $16.39 and its 200-day moving average price is $15.85. 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 has a 52-week low of $10.76 and a 52-week high of $23.46. The firm has a market capitalization of $1.19 billion, a PE ratio of 28.13 and a beta of 0.21.

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

Hedge Funds Weigh In On ProAssurance

Large investors have recently bought and sold shares of the stock. Sterling Capital Management LLC raised its position in shares of ProAssurance by 859.4% during the fourth 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 during the period. KBC Group NV raised its stake in shares of ProAssurance by 75.4% during the 4th quarter. KBC Group NV now owns 4,184 shares of the insurance provider’s stock worth $67,000 after purchasing an additional 1,798 shares in the last quarter. Aquatic Capital Management LLC lifted its stake in shares of ProAssurance by 148.6% in the 4th quarter. Aquatic Capital Management LLC now owns 6,214 shares of the insurance provider’s stock valued at $99,000 after purchasing an additional 3,714 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. grew its holdings in ProAssurance by 94.3% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 8,347 shares of the insurance provider’s stock valued at $126,000 after purchasing an additional 4,052 shares during the last quarter. Finally, KLP Kapitalforvaltning AS bought a new position in shares of ProAssurance in the fourth quarter worth about $150,000. Institutional investors and hedge funds own 85.58% of the company’s stock.

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.