ProAssurance Corporation $PRA Shares Sold by Inspire Investing LLC

Inspire Investing LLC reduced its stake in shares of ProAssurance Corporation (NYSE:PRA) by 41.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,750 shares of the insurance provider’s stock after selling 10,362 shares during the quarter. Inspire Investing LLC’s holdings in ProAssurance were worth $344,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PRA. Magnetar Financial LLC acquired a new position in ProAssurance during the first quarter worth about $54,121,000. Alliancebernstein L.P. grew its position in ProAssurance by 2,035.6% during the first quarter. Alliancebernstein L.P. now owns 1,516,479 shares of the insurance provider’s stock worth $35,410,000 after buying an additional 1,445,469 shares during the period. TIG Advisors LLC acquired a new position in ProAssurance during the first quarter worth about $15,039,000. Adage Capital Partners GP L.L.C. acquired a new position in ProAssurance during the first quarter worth about $8,281,000. Finally, AQR Arbitrage LLC acquired a new position in ProAssurance during the first quarter worth about $8,165,000. 85.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Zacks Research upgraded shares of ProAssurance from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 20th. Five equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, ProAssurance currently has an average rating of “Reduce” and an average price target of $21.50.

ProAssurance Stock Performance

Shares of PRA stock opened at $23.78 on Wednesday. ProAssurance Corporation has a one year low of $13.00 and a one year high of $24.14. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.26 and a current ratio of 0.26. The company has a 50 day moving average price of $23.83 and a 200 day moving average price of $22.68. The firm has a market capitalization of $1.22 billion, a price-to-earnings ratio of 25.30 and a beta of 0.12.

ProAssurance (NYSE:PRA) last issued its quarterly earnings results on Tuesday, August 5th. The insurance provider reported $0.52 EPS for the quarter, topping the consensus estimate of $0.19 by $0.33. ProAssurance had a net margin of 4.33% and a return on equity of 5.62%. The firm had revenue of $271.94 million during the quarter, compared to analyst estimates of $266.72 million. During the same quarter in the prior year, the business posted $0.23 earnings per share. ProAssurance’s revenue for the quarter was down 19.9% compared to the same quarter last year. Sell-side analysts anticipate that ProAssurance Corporation will post 0.8 EPS for the current year.

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 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.