Polar Asset Management Partners Inc. Grows Stock Holdings in ProAssurance Corporation $PRA

Polar Asset Management Partners Inc. boosted its stake in shares of ProAssurance Corporation (NYSE:PRA) by 517.2% during the first quarter, Holdings Channel reports. The firm owned 198,586 shares of the insurance provider’s stock after purchasing an additional 166,413 shares during the quarter. Polar Asset Management Partners Inc.’s holdings in ProAssurance were worth $4,909,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. AQR Capital Management LLC grew its position in ProAssurance by 40.4% in the 1st quarter. AQR Capital Management LLC now owns 134,641 shares of the insurance provider’s stock worth $3,144,000 after purchasing an additional 38,756 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of ProAssurance by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,293 shares of the insurance provider’s stock valued at $707,000 after buying an additional 1,302 shares during the period. Millennium Management LLC boosted its stake in shares of ProAssurance by 181.5% in the 1st quarter. Millennium Management LLC now owns 306,540 shares of the insurance provider’s stock worth $7,158,000 after buying an additional 197,663 shares during the last quarter. Jones Financial Companies Lllp purchased a new position in shares of ProAssurance in the 1st quarter worth $600,000. Finally, Goldman Sachs Group Inc. boosted its stake in shares of ProAssurance by 47.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 511,759 shares of the insurance provider’s stock worth $11,950,000 after buying an additional 165,024 shares during the last quarter. Hedge funds and other institutional investors own 85.58% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on PRA. Weiss Ratings upgraded ProAssurance from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, May 29th. Wall Street Zen cut ProAssurance from a “hold” rating to a “sell” rating in a research report on Sunday, May 10th. One investment 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.com, the company presently has an average rating of “Buy”.

ProAssurance Stock Performance

Shares of NYSE PRA opened at $25.00 on Monday. ProAssurance Corporation has a 12-month low of $22.79 and a 12-month high of $25.01. The firm has a market capitalization of $1.29 billion, a price-to-earnings ratio of 20.00 and a beta of 0.02. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.31. The firm has a 50 day moving average of $24.74 and a 200 day moving average of $24.57.

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

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.