Public Sector Pension Investment Board Buys 25,662 Shares of ProAssurance Corporation $PRA

Public Sector Pension Investment Board boosted its stake in shares of ProAssurance Corporation (NYSE:PRA) by 14.7% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 200,559 shares of the insurance provider’s stock after purchasing an additional 25,662 shares during the period. Public Sector Pension Investment Board’s holdings in ProAssurance were worth $4,811,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently made changes to their positions in the stock. Magnetar Financial LLC boosted its holdings in shares of ProAssurance by 27.6% in the 2nd quarter. Magnetar Financial LLC now owns 2,956,808 shares of the insurance provider’s stock valued at $67,504,000 after buying an additional 638,992 shares during the last quarter. Alliancebernstein L.P. raised its position in ProAssurance by 26.3% during the second quarter. Alliancebernstein L.P. now owns 1,915,673 shares of the insurance provider’s stock worth $43,735,000 after acquiring an additional 399,194 shares in the last quarter. Qube Research & Technologies Ltd lifted its stake in ProAssurance by 186.1% in the second quarter. Qube Research & Technologies Ltd now owns 1,491,060 shares of the insurance provider’s stock valued at $34,041,000 after acquiring an additional 969,833 shares during the last quarter. Alpine Associates Management Inc. grew its position in shares of ProAssurance by 73.6% in the 3rd quarter. Alpine Associates Management Inc. now owns 952,547 shares of the insurance provider’s stock valued at $22,852,000 after acquiring an additional 403,807 shares during the period. Finally, Hsbc Holdings PLC increased 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 purchasing an additional 872,808 shares during the last quarter. Institutional investors and hedge funds own 85.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on PRA shares. Wall Street Zen upgraded shares of ProAssurance to a “sell” rating in a research note on Saturday, November 22nd. Weiss Ratings reiterated a “hold (c)” rating on shares of ProAssurance in a research note on Thursday, January 22nd. Finally, Zacks Research cut ProAssurance from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 5th. Five equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus target price of $25.00.

ProAssurance Trading Up 0.1%

Shares of ProAssurance stock opened at $24.39 on Friday. 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 has a 50-day moving average of $24.22 and a 200-day moving average of $24.04. ProAssurance Corporation has a 52-week low of $13.90 and a 52-week high of $24.66. The stock has a market cap of $1.25 billion, a PE ratio of 37.52 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.