ProAssurance Corporation $PRA Position Lowered by Welch Group LLC

Welch Group LLC reduced its position in ProAssurance Corporation (NYSE:PRA) by 11.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,575 shares of the insurance provider’s stock after selling 1,240 shares during the quarter. Welch Group LLC’s holdings in ProAssurance were worth $219,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the company. GAMMA Investing LLC increased its holdings in shares of ProAssurance by 9,409.8% in the 1st quarter. GAMMA Investing LLC now owns 48,405 shares of the insurance provider’s stock valued at $1,130,000 after acquiring an additional 47,896 shares during the last quarter. Advisor Resource Council bought a new stake in ProAssurance during the first quarter valued at $225,000. Principal Financial Group Inc. increased its stake in ProAssurance by 2.7% during the first quarter. Principal Financial Group Inc. now owns 254,753 shares of the insurance provider’s stock valued at $5,948,000 after purchasing an additional 6,684 shares during the last quarter. CWM LLC raised its holdings in shares of ProAssurance by 95.9% during the first quarter. CWM LLC now owns 2,204 shares of the insurance provider’s stock worth $51,000 after purchasing an additional 1,079 shares during the period. Finally, Victory Capital Management Inc. bought a new position in shares of ProAssurance in the 1st quarter worth about $209,000. Institutional investors own 85.58% of the company’s stock.

ProAssurance Trading Up 0.3%

ProAssurance stock opened at $23.98 on Tuesday. ProAssurance Corporation has a 52-week low of $13.00 and a 52-week high of $24.22. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $1.23 billion, a price-to-earnings ratio of 25.51 and a beta of 0.12. The firm has a 50-day moving average price of $23.89 and a two-hundred day moving average price of $23.48.

ProAssurance (NYSE:PRA) last announced its quarterly earnings results on Friday, May 20th. The insurance provider reported $0.04 EPS for the quarter. The company had revenue of $220.02 million for the quarter. ProAssurance had a net margin of 4.33% and a return on equity of 5.62%. Sell-side analysts expect that ProAssurance Corporation will post 0.8 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Zacks Research raised shares of ProAssurance from a “hold” rating to a “strong-buy” rating in a research report on Monday, September 22nd. Weiss Ratings restated a “hold (c)” rating on shares of ProAssurance in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus 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.