ProAssurance Co. (PRA) Holdings Lessened by Trustcore Financial Services LLC

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Trustcore Financial Services LLC trimmed its holdings in ProAssurance Co. (NYSE:PRA) by 31.6% during the fourth quarter, HoldingsChannel reports. The firm owned 870 shares of the insurance provider’s stock after selling 402 shares during the period. Trustcore Financial Services LLC’s holdings in ProAssurance were worth $35,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. State of Alaska Department of Revenue raised its position in shares of ProAssurance by 1.5% during the 4th quarter. State of Alaska Department of Revenue now owns 17,915 shares of the insurance provider’s stock valued at $726,000 after acquiring an additional 265 shares in the last quarter. Strs Ohio grew its stake in ProAssurance by 25.0% during the 4th quarter. Strs Ohio now owns 1,500 shares of the insurance provider’s stock worth $60,000 after buying an additional 300 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in ProAssurance by 27.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,974 shares of the insurance provider’s stock worth $161,000 after buying an additional 865 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in ProAssurance by 95.2% during the 3rd quarter. PNC Financial Services Group Inc. now owns 2,360 shares of the insurance provider’s stock worth $111,000 after buying an additional 1,151 shares during the last quarter. Finally, Riverhead Capital Management LLC grew its stake in ProAssurance by 25.9% during the 3rd quarter. Riverhead Capital Management LLC now owns 6,320 shares of the insurance provider’s stock worth $297,000 after buying an additional 1,300 shares during the last quarter. 85.90% of the stock is currently owned by institutional investors.

PRA has been the subject of a number of recent research reports. Boenning Scattergood restated a “hold” rating on shares of ProAssurance in a research note on Tuesday, February 5th. Zacks Investment Research upgraded ProAssurance from a “sell” rating to a “hold” rating in a research note on Tuesday, January 15th. Finally, SunTrust Banks lowered their price objective on ProAssurance to $45.00 and set a “hold” rating for the company in a research note on Friday, December 14th. They noted that the move was a valuation call. Seven research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. ProAssurance presently has an average rating of “Hold” and a consensus target price of $49.40.

PRA traded up $0.66 during trading on Tuesday, reaching $43.52. 448 shares of the company were exchanged, compared to its average volume of 226,418. The company has a market cap of $2.27 billion, a P/E ratio of 21.34 and a beta of 0.64. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.35 and a quick ratio of 0.35. ProAssurance Co. has a 52 week low of $34.95 and a 52 week high of $53.00.

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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, and Lloyd's Syndicate segments. It offers professional liability insurance for healthcare professionals and facilities; professional liability insurance for attorneys; liability insurance for medical technology and life sciences risks; and workers' compensation insurance for employers, groups, and associations.

Further Reading: The risks of owning bonds

Want to see what other hedge funds are holding PRA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ProAssurance Co. (NYSE:PRA).

Institutional Ownership by Quarter for ProAssurance (NYSE:PRA)

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