GAMMA Investing LLC Buys 47,896 Shares of ProAssurance Co. (NYSE:PRA)

GAMMA Investing LLC grew its stake in ProAssurance Co. (NYSE:PRA) by 9,409.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 48,405 shares of the insurance provider’s stock after purchasing an additional 47,896 shares during the period. GAMMA Investing LLC owned approximately 0.09% of ProAssurance worth $1,130,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Mariner LLC grew its stake in shares of ProAssurance by 4.2% in the 4th quarter. Mariner LLC now owns 17,007 shares of the insurance provider’s stock valued at $271,000 after purchasing an additional 688 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of ProAssurance by 4.0% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,991 shares of the insurance provider’s stock worth $461,000 after acquiring an additional 1,127 shares in the last quarter. Rhumbline Advisers boosted its holdings in shares of ProAssurance by 0.8% in the 4th quarter. Rhumbline Advisers now owns 160,707 shares of the insurance provider’s stock worth $2,557,000 after acquiring an additional 1,281 shares in the last quarter. Sterling Capital Management LLC boosted its holdings in shares of ProAssurance by 859.4% in the 4th quarter. Sterling Capital Management LLC now owns 1,631 shares of the insurance provider’s stock worth $26,000 after acquiring an additional 1,461 shares in the last quarter. Finally, New York State Teachers Retirement System boosted its holdings in shares of ProAssurance by 2.2% in the 4th quarter. New York State Teachers Retirement System now owns 89,326 shares of the insurance provider’s stock worth $1,421,000 after acquiring an additional 1,937 shares in the last quarter. 85.58% of the stock is currently owned by institutional investors.

ProAssurance Stock Performance

PRA stock opened at $22.91 on Monday. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.28 and a quick ratio of 0.28. The company has a 50 day moving average price of $23.11 and a 200 day moving average price of $18.89. ProAssurance Co. has a fifty-two week low of $10.76 and a fifty-two week high of $23.70. The stock has a market capitalization of $1.18 billion, a PE ratio of 27.60 and a beta of 0.14.

ProAssurance (NYSE:PRA) last posted its quarterly earnings data on Tuesday, May 6th. The insurance provider reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.06). ProAssurance had a return on equity of 2.65% and a net margin of 3.71%. The company had revenue of $236.28 million during the quarter, compared to the consensus estimate of $272.85 million. During the same quarter last year, the firm earned $0.08 EPS. The business’s revenue for the quarter was down 4.5% on a year-over-year basis. Analysts forecast that ProAssurance Co. will post 0.8 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on PRA shares. Citigroup downgraded ProAssurance to a “market perform” rating in a report on Thursday, April 3rd. Piper Sandler boosted their target price on ProAssurance from $18.00 to $25.00 and gave the stock a “neutral” rating in a report on Thursday, May 8th. Citizens Jmp downgraded ProAssurance from an “outperform” rating to a “market perform” rating in a report on Thursday, April 3rd. Raymond James downgraded ProAssurance from a “market perform” rating to an “underperform” rating in a report on Thursday, April 10th. Finally, Wall Street Zen started coverage on ProAssurance in a report on Monday, May 19th. They issued a “hold” rating on the stock. One analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, ProAssurance presently has an average rating of “Hold” and an average target price of $21.00.

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.