Polar Asset Management Partners Inc. Raises Stake in ProAssurance Corporation $PRA

Polar Asset Management Partners Inc. boosted its holdings in ProAssurance Corporation (NYSE:PRA) by 517.2% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 198,586 shares of the insurance provider’s stock after purchasing an additional 166,413 shares during the quarter. Polar Asset Management Partners Inc. owned about 0.38% of ProAssurance worth $4,909,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in PRA. OMERS ADMINISTRATION Corp boosted its position in shares of ProAssurance by 21.4% in the 1st quarter. OMERS ADMINISTRATION Corp now owns 93,600 shares of the insurance provider’s stock worth $2,314,000 after purchasing an additional 16,500 shares in the last quarter. Renaissance Technologies LLC increased its position in ProAssurance by 641.1% during the 1st quarter. Renaissance Technologies LLC now owns 964,900 shares of the insurance provider’s stock valued at $23,852,000 after buying an additional 834,700 shares in the last quarter. Gabelli Funds LLC increased its position in ProAssurance by 165.0% during the 1st quarter. Gabelli Funds LLC now owns 188,634 shares of the insurance provider’s stock valued at $4,663,000 after buying an additional 117,447 shares in the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. raised its stake in ProAssurance by 174.4% during the first quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 177,815 shares of the insurance provider’s stock valued at $4,396,000 after buying an additional 113,015 shares during the last quarter. Finally, PSquared Asset Management AG raised its stake in ProAssurance by 6.3% during the first quarter. PSquared Asset Management AG now owns 368,059 shares of the insurance provider’s stock valued at $9,098,000 after buying an additional 21,825 shares during the last quarter. Institutional investors own 85.58% of the company’s stock.

ProAssurance Stock Performance

Shares of PRA opened at $25.00 on Monday. The business’s fifty day simple moving average is $24.74 and its two-hundred day simple moving average is $24.57. 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 Corporation has a 12 month low of $22.79 and a 12 month high of $25.01. The company has a market cap of $1.29 billion, a price-to-earnings ratio of 20.00 and a beta of 0.02.

ProAssurance (NYSE:PRA) last posted its quarterly earnings results on Tuesday, May 5th. The insurance provider reported $0.25 earnings per share for the quarter, hitting the consensus estimate of $0.25. The firm had revenue of $262.63 million during the quarter, compared to analysts’ expectations of $216.86 million. ProAssurance had a return on equity of 6.82% and a net margin of 5.99%.The company’s revenue was down 3.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.13 earnings per share. Research analysts anticipate that ProAssurance Corporation will post 1.25 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Weiss Ratings raised ProAssurance from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, May 29th. Wall Street Zen downgraded ProAssurance from a “hold” rating to a “sell” rating in a report on Sunday, May 10th. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, ProAssurance currently has a consensus rating of “Buy”.

ProAssurance 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.