36,540 Shares in ProAssurance Corporation $PRA Bought by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd bought a new position in ProAssurance Corporation (NYSE:PRA) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 36,540 shares of the insurance provider’s stock, valued at approximately $903,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Mitchell Mcleod Pugh & Williams Inc. grew its position in shares of ProAssurance by 2.7% during the first quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 27,815 shares of the insurance provider’s stock worth $688,000 after acquiring an additional 734 shares during the last quarter. Inspire Investing LLC lifted its position in ProAssurance by 7.1% in the 1st quarter. Inspire Investing LLC now owns 20,764 shares of the insurance provider’s stock valued at $513,000 after purchasing an additional 1,378 shares during the last quarter. Louisiana State Employees Retirement System bought a new stake in ProAssurance in the 1st quarter valued at about $564,000. OP Asset Management Ltd acquired a new position in ProAssurance during the 1st quarter valued at about $911,000. Finally, Hsbc Holdings PLC boosted its stake in ProAssurance by 7.7% during the 4th quarter. Hsbc Holdings PLC now owns 1,047,160 shares of the insurance provider’s stock valued at $25,289,000 after purchasing an additional 74,870 shares during the period. 85.58% of the stock is currently owned by institutional investors.

ProAssurance Price Performance

PRA stock opened at $25.00 on Monday. ProAssurance Corporation has a 52 week low of $22.79 and a 52 week high of $25.01. The company has a market capitalization of $1.29 billion, a price-to-earnings ratio of 20.00 and a beta of 0.02. The firm’s 50-day moving average is $24.67 and its two-hundred day moving average is $24.51. 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 issued its quarterly earnings results on Tuesday, May 5th. The insurance provider reported $0.25 earnings per share 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 company had revenue of $262.63 million during the quarter, compared to analyst estimates of $216.86 million. During the same period in the prior year, the business posted $0.13 EPS. The business’s revenue for the quarter was down 3.5% compared to the same quarter last year. On average, analysts forecast that ProAssurance Corporation will post 1.25 earnings per share for the current fiscal year.

Analysts Set New Price Targets

PRA has been the topic of several analyst reports. Weiss Ratings upgraded shares of ProAssurance from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, May 29th. Wall Street Zen cut ProAssurance from a “hold” rating to a “sell” rating in a report on Sunday, May 10th. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy”.

About ProAssurance

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.