Cantor Fitzgerald L. P. Makes New $921,000 Investment in ProAssurance Corporation $PRA

Cantor Fitzgerald L. P. acquired a new stake in shares of ProAssurance Corporation (NYSE:PRA) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 38,377 shares of the insurance provider’s stock, valued at approximately $921,000. Cantor Fitzgerald L. P. owned 0.07% of ProAssurance as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Russell Investments Group Ltd. increased its stake in ProAssurance by 356.2% during the 2nd quarter. Russell Investments Group Ltd. now owns 1,405 shares of the insurance provider’s stock worth $32,000 after buying an additional 1,097 shares during the period. Cornerstone Planning Group LLC lifted its holdings in ProAssurance by 12,152.2% in the 3rd quarter. Cornerstone Planning Group LLC now owns 2,818 shares of the insurance provider’s stock worth $68,000 after buying an additional 2,795 shares in the last quarter. GAMMA Investing LLC boosted its position in ProAssurance by 35.7% in the 3rd quarter. GAMMA Investing LLC now owns 4,238 shares of the insurance provider’s stock valued at $102,000 after buying an additional 1,115 shares during the last quarter. Tower Research Capital LLC TRC grew its stake in shares of ProAssurance by 271.2% during the second quarter. Tower Research Capital LLC TRC now owns 5,576 shares of the insurance provider’s stock valued at $127,000 after acquiring an additional 4,074 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its stake in shares of ProAssurance by 22.8% during the second quarter. BNP Paribas Financial Markets now owns 5,679 shares of the insurance provider’s stock valued at $130,000 after acquiring an additional 1,056 shares in the last quarter. 85.58% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PRA has been the topic of several recent analyst reports. Wall Street Zen upgraded ProAssurance from a “sell” rating to a “hold” rating in a research note on Saturday, February 28th. Zacks Research upgraded ProAssurance from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 24th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of ProAssurance in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $25.00.

ProAssurance Stock Performance

Shares of PRA stock opened at $24.64 on Monday. The stock has a market capitalization of $1.27 billion, a price-to-earnings ratio of 25.14 and a beta of 0.04. ProAssurance Corporation has a one year low of $15.30 and a one year high of $24.77. The company’s 50-day simple moving average is $24.36 and its 200-day simple moving average is $24.12. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.27 and a current ratio of 0.27.

ProAssurance (NYSE:PRA) last announced its quarterly earnings data on Monday, February 23rd. The insurance provider reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.60. ProAssurance had a return on equity of 6.50% and a net margin of 4.64%.The firm had revenue of $269.64 million during the quarter, compared to analyst estimates of $261.08 million. During the same period in the previous year, the company earned $0.36 earnings per share. ProAssurance’s quarterly revenue was down 7.1% on a year-over-year basis. Equities analysts anticipate that ProAssurance Corporation will post 0.8 earnings per share for the current fiscal year.

ProAssurance Profile

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.