Envestnet Portfolio Solutions Inc. Buys New Holdings in ProAssurance Corporation $PRA

Envestnet Portfolio Solutions Inc. bought a new stake in ProAssurance Corporation (NYSE:PRA) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 25,712 shares of the insurance provider’s stock, valued at approximately $587,000. Envestnet Portfolio Solutions Inc. owned approximately 0.05% of ProAssurance at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Quantbot Technologies LP acquired a new position in shares of ProAssurance in the first quarter valued at $47,000. GAMMA Investing LLC raised its stake in shares of ProAssurance by 307.3% in the first quarter. GAMMA Investing LLC now owns 2,073 shares of the insurance provider’s stock valued at $48,000 after purchasing an additional 1,564 shares in the last quarter. CWM LLC raised its stake in shares of ProAssurance by 95.9% in the first quarter. CWM LLC now owns 2,204 shares of the insurance provider’s stock valued at $51,000 after purchasing an additional 1,079 shares in the last quarter. Longfellow Investment Management Co. LLC acquired a new position in shares of ProAssurance in the first quarter valued at $75,000. Finally, Wolverine Asset Management LLC acquired a new position in shares of ProAssurance in the first quarter valued at $84,000. 85.58% of the stock is currently owned by institutional investors and hedge funds.

ProAssurance Price Performance

Shares of PRA stock opened at $24.08 on Wednesday. The stock’s fifty day moving average is $23.90 and its 200-day moving average is $23.51. 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 stock has a market capitalization of $1.24 billion, a PE ratio of 25.61 and a beta of 0.12. ProAssurance Corporation has a 52 week low of $13.00 and a 52 week high of $24.22.

ProAssurance (NYSE:PRA) last announced its earnings results on Friday, May 20th. The insurance provider reported $0.04 EPS for the quarter. The company had revenue of $220.02 million for the quarter. ProAssurance had a return on equity of 5.62% and a net margin of 4.33%. Equities research analysts expect that ProAssurance Corporation will post 0.8 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on PRA shares. Zacks Research upgraded ProAssurance from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 22nd. Weiss Ratings reiterated a “hold (c)” rating on shares of ProAssurance in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, ProAssurance currently has an average rating of “Hold” 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.