Olympiad Research LP Has $1.96 Million Holdings in ProAssurance Corporation $PRA

Olympiad Research LP grew its holdings in shares of ProAssurance Corporation (NYSE:PRA) by 79.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 85,874 shares of the insurance provider’s stock after buying an additional 37,936 shares during the period. ProAssurance accounts for about 3.2% of Olympiad Research LP’s investment portfolio, making the stock its 5th biggest holding. Olympiad Research LP’s holdings in ProAssurance were worth $1,961,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Quantbot Technologies LP acquired a new position in shares of ProAssurance during the first quarter valued at $47,000. CWM LLC raised its position in shares of ProAssurance by 95.9% during the 1st quarter. CWM LLC now owns 2,204 shares of the insurance provider’s stock worth $51,000 after buying an additional 1,079 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of ProAssurance by 50.7% in the 2nd quarter. GAMMA Investing LLC now owns 3,123 shares of the insurance provider’s stock worth $71,000 after acquiring an additional 1,050 shares during the period. Longfellow Investment Management Co. LLC bought a new position in shares of ProAssurance in the first quarter valued at approximately $75,000. Finally, Wolverine Asset Management LLC acquired a new position in shares of ProAssurance during the first quarter valued at approximately $84,000. Institutional investors and hedge funds own 85.58% of the company’s stock.

Analyst Upgrades and Downgrades

PRA has been the subject of a number of research reports. Zacks Research lowered ProAssurance from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 5th. Weiss Ratings reissued a “hold (c)” rating on shares of ProAssurance in a report on Wednesday, October 8th. Five research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of $25.00.

ProAssurance Stock Performance

ProAssurance stock opened at $24.04 on Friday. ProAssurance Corporation has a fifty-two week low of $13.00 and a fifty-two week high of $24.22. The firm’s 50 day simple moving average is $23.96 and its 200-day simple moving average is $23.61. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.26 and a quick ratio of 0.26. The company has a market cap of $1.24 billion, a P/E ratio of 25.57 and a beta of 0.11.

ProAssurance (NYSE:PRA) last announced its earnings results on Friday, May 20th. The insurance provider reported $0.04 earnings per share (EPS) for the quarter. The company had revenue of $220.02 million for the quarter. ProAssurance had a net margin of 4.33% and a return on equity of 5.62%. As a group, equities research analysts predict that ProAssurance Corporation will post 0.8 EPS for the current year.

ProAssurance 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.