AlphaQuest LLC Makes New $420,000 Investment in ProAssurance Co. (NYSE:PRA)

AlphaQuest LLC purchased a new stake in shares of ProAssurance Co. (NYSE:PRA) in the fourth quarter, according to its most recent 13F filing with the SEC. The fund purchased 26,427 shares of the insurance provider’s stock, valued at approximately $420,000. AlphaQuest LLC owned approximately 0.05% of ProAssurance at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in PRA. Amundi lifted its stake in ProAssurance by 182.3% during the fourth quarter. Amundi now owns 25,634 shares of the insurance provider’s stock worth $389,000 after purchasing an additional 16,552 shares during the last quarter. Wakefield Asset Management LLLP bought a new position in shares of ProAssurance during the fourth quarter valued at $1,036,000. Versor Investments LP bought a new position in ProAssurance in the 4th quarter valued at approximately $354,000. Y Intercept Hong Kong Ltd bought a new position in ProAssurance during the 4th quarter valued at about $551,000. Finally, Principal Financial Group Inc. lifted its position in ProAssurance by 2.9% during the fourth quarter. Principal Financial Group Inc. now owns 248,069 shares of the insurance provider’s stock valued at $3,947,000 after purchasing an additional 6,919 shares during the period. 85.58% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of ProAssurance from a “hold” rating to a “buy” rating in a research report on Thursday, March 6th.

ProAssurance Stock Performance

NYSE PRA opened at $15.30 on Friday. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.35. ProAssurance Co. has a twelve month low of $10.76 and a twelve month high of $17.79. The business has a 50-day moving average price of $15.04 and a 200-day moving average price of $15.19. The firm has a market cap of $782.86 million, a price-to-earnings ratio of 18.44 and a beta of 0.21.

ProAssurance (NYSE:PRA) last released its quarterly earnings results on Monday, February 24th. The insurance provider reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.19. ProAssurance had a net margin of 3.71% and a return on equity of 2.65%. The company had revenue of $287.52 million for the quarter, compared to the consensus estimate of $274.56 million. As a group, equities research analysts predict that ProAssurance Co. will post 0.8 EPS for the current fiscal year.

ProAssurance Company 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.