Rhumbline Advisers Has $3.53 Million Holdings in ProAssurance Corporation $PRA

Rhumbline Advisers cut its stake in ProAssurance Corporation (NYSE:PRA) by 5.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 151,280 shares of the insurance provider’s stock after selling 9,427 shares during the period. Rhumbline Advisers owned 0.29% of ProAssurance worth $3,532,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also made changes to their positions in PRA. Deutsche Bank AG increased its position in shares of ProAssurance by 50.1% during the fourth quarter. Deutsche Bank AG now owns 47,679 shares of the insurance provider’s stock worth $759,000 after acquiring an additional 15,921 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of ProAssurance by 10.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 157,977 shares of the insurance provider’s stock valued at $2,513,000 after buying an additional 15,542 shares in the last quarter. GAMMA Investing LLC raised its position in shares of ProAssurance by 307.3% in the 1st quarter. GAMMA Investing LLC now owns 2,073 shares of the insurance provider’s stock valued at $48,000 after buying an additional 1,564 shares in the last quarter. Alpine Associates Management Inc. bought a new position in ProAssurance in the 1st quarter valued at approximately $5,167,000. Finally, Victory Capital Management Inc. bought a new position in ProAssurance in the 1st quarter valued at approximately $209,000. Institutional investors own 85.58% of the company’s stock.

ProAssurance Price Performance

Shares of PRA opened at $23.78 on Tuesday. The company has a market capitalization of $1.22 billion, a P/E ratio of 25.30 and a beta of 0.12. 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 50 day moving average of $23.83 and a 200 day moving average of $22.68. ProAssurance Corporation has a twelve month low of $13.00 and a twelve month high of $24.14.

ProAssurance (NYSE:PRA) last announced its quarterly earnings results on Tuesday, August 5th. The insurance provider reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.33. The company had revenue of $271.94 million during the quarter, compared to the consensus estimate of $266.72 million. ProAssurance had a net margin of 4.33% and a return on equity of 5.62%. The firm’s quarterly revenue was down 19.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.23 earnings per share. As a group, equities research analysts anticipate that ProAssurance Corporation will post 0.8 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PRA. Wall Street Zen initiated coverage on shares of ProAssurance in a research report on Monday, May 19th. They set a “hold” rating for the company. Zacks Research raised shares of ProAssurance from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 20th. Five analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” 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.