Magnetar Financial LLC Has $84.19 Million Stock Position in ProAssurance Corporation $PRA

Magnetar Financial LLC raised its position in ProAssurance Corporation (NYSE:PRA) by 15.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,484,563 shares of the insurance provider’s stock after acquiring an additional 458,390 shares during the period. ProAssurance comprises approximately 0.8% of Magnetar Financial LLC’s holdings, making the stock its 14th largest holding. Magnetar Financial LLC owned 0.07% of ProAssurance worth $84,187,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Ellsworth Advisors LLC raised its holdings in ProAssurance by 1.4% in the 4th quarter. Ellsworth Advisors LLC now owns 37,141 shares of the insurance provider’s stock valued at $899,000 after acquiring an additional 519 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in ProAssurance by 5.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,935 shares of the insurance provider’s stock valued at $313,000 after acquiring an additional 678 shares in the last quarter. LPL Financial LLC raised its holdings in ProAssurance by 7.6% in the 4th quarter. LPL Financial LLC now owns 10,616 shares of the insurance provider’s stock valued at $256,000 after acquiring an additional 747 shares in the last quarter. Jane Street Group LLC lifted its holdings in shares of ProAssurance by 1.2% during the 2nd quarter. Jane Street Group LLC now owns 73,834 shares of the insurance provider’s stock worth $1,686,000 after acquiring an additional 890 shares during the period. Finally, Illinois Municipal Retirement Fund lifted its holdings in shares of ProAssurance by 3.5% during the 4th quarter. Illinois Municipal Retirement Fund now owns 27,993 shares of the insurance provider’s stock worth $676,000 after acquiring an additional 948 shares during the period. Institutional investors and hedge funds own 85.58% of the company’s stock.

ProAssurance Price Performance

Shares of PRA stock opened at $24.58 on Wednesday. The stock’s fifty day simple moving average is $24.55 and its 200 day simple moving average is $24.40. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.27 and a quick ratio of 0.27. The firm has a market cap of $1.27 billion, a price-to-earnings ratio of 19.66 and a beta of 0.02. ProAssurance Corporation has a one year low of $22.72 and a one year high of $24.85.

ProAssurance (NYSE:PRA) last announced its quarterly earnings results on Tuesday, May 5th. The insurance provider reported $0.25 EPS for the quarter, meeting the consensus estimate of $0.25. The business had revenue of $262.63 million for the quarter, compared to analyst estimates of $216.86 million. ProAssurance had a return on equity of 6.82% and a net margin of 5.99%.ProAssurance’s quarterly revenue was down 3.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.13 EPS. On average, analysts expect that ProAssurance Corporation will post 1.25 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on PRA. Zacks Research raised shares of ProAssurance from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 24th. Wall Street Zen downgraded shares of ProAssurance from a “hold” rating to a “sell” rating in a report on Sunday, May 10th. Finally, Weiss Ratings raised shares of ProAssurance from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, May 29th. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy”.

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.