Credit Industriel ET Commercial Sells 80,720 Shares of ProAssurance Corporation $PRA

Credit Industriel ET Commercial trimmed its holdings in ProAssurance Corporation (NYSE:PRA) by 24.2% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 252,275 shares of the insurance provider’s stock after selling 80,720 shares during the period. ProAssurance accounts for approximately 0.5% of Credit Industriel ET Commercial’s holdings, making the stock its 26th largest position. Credit Industriel ET Commercial owned about 0.49% of ProAssurance worth $6,052,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Qube Research & Technologies Ltd increased its position in ProAssurance by 186.1% during the second quarter. Qube Research & Technologies Ltd now owns 1,491,060 shares of the insurance provider’s stock worth $34,041,000 after buying an additional 969,833 shares during the last quarter. Hsbc Holdings PLC boosted its stake in shares of ProAssurance by 1,310.1% during the 2nd quarter. Hsbc Holdings PLC now owns 939,428 shares of the insurance provider’s stock worth $21,433,000 after acquiring an additional 872,808 shares in the last quarter. Magnetar Financial LLC increased its holdings in shares of ProAssurance by 27.6% during the 2nd quarter. Magnetar Financial LLC now owns 2,956,808 shares of the insurance provider’s stock valued at $67,504,000 after acquiring an additional 638,992 shares during the last quarter. LMR Partners LLP raised its stake in shares of ProAssurance by 287.2% in the 2nd quarter. LMR Partners LLP now owns 806,471 shares of the insurance provider’s stock valued at $18,412,000 after acquiring an additional 598,169 shares in the last quarter. Finally, Alpine Associates Management Inc. lifted its holdings in ProAssurance by 73.6% in the 3rd quarter. Alpine Associates Management Inc. now owns 952,547 shares of the insurance provider’s stock worth $22,852,000 after purchasing an additional 403,807 shares during the last quarter. Institutional investors own 85.58% of the company’s stock.

Analysts Set New Price Targets

PRA has been the topic of several analyst reports. Zacks Research downgraded ProAssurance from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 5th. Wall Street Zen upgraded shares of ProAssurance to a “sell” rating in a research note on Saturday, November 22nd. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of ProAssurance in a research report on Thursday, January 22nd. Five research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, ProAssurance presently has a consensus rating of “Reduce” and a consensus price target of $25.00.

ProAssurance Stock Performance

NYSE:PRA opened at $24.54 on Monday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.28 and a current ratio of 0.28. The firm’s 50-day moving average is $24.19 and its 200-day moving average is $24.03. ProAssurance Corporation has a 52-week low of $13.90 and a 52-week high of $24.66. The company has a market cap of $1.26 billion, a price-to-earnings ratio of 37.75 and a beta of 0.09.

About ProAssurance

ProAssurance Corporation is a specialty property and casualty insurance holding company headquartered in Birmingham, Alabama. The company focuses primarily on professional liability coverage for healthcare providers, including physicians, surgeons, dentists and allied health professionals. ProAssurance operates through a group of insurance subsidiaries that underwrite both occurrence- and claims-made policies tailored to the unique risks faced by the medical community.

In addition to professional liability insurance, ProAssurance offers a suite of complementary property and casualty products, such as general liability, workers’ compensation, property and inland marine, and umbrella coverage.