Wealthfront Advisers LLC Makes New $359,000 Investment in ProAssurance Co. (NYSE:PRA)

Wealthfront Advisers LLC purchased a new position in shares of ProAssurance Co. (NYSE:PRA) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 22,579 shares of the insurance provider’s stock, valued at approximately $359,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PRA. Connor Clark & Lunn Investment Management Ltd. lifted its position in ProAssurance by 402.1% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 68,435 shares of the insurance provider’s stock worth $1,029,000 after buying an additional 54,806 shares in the last quarter. FMR LLC increased its stake in shares of ProAssurance by 197.8% during the 3rd quarter. FMR LLC now owns 12,063 shares of the insurance provider’s stock worth $181,000 after purchasing an additional 8,012 shares during the last quarter. BNP Paribas Financial Markets increased its stake in shares of ProAssurance by 30.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 17,978 shares of the insurance provider’s stock worth $270,000 after purchasing an additional 4,149 shares during the last quarter. Verition Fund Management LLC increased its stake in shares of ProAssurance by 164.1% during the 3rd quarter. Verition Fund Management LLC now owns 36,589 shares of the insurance provider’s stock worth $550,000 after purchasing an additional 22,737 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. increased its stake in shares of ProAssurance by 94.3% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 8,347 shares of the insurance provider’s stock worth $126,000 after purchasing an additional 4,052 shares during the last quarter. 85.58% of the stock is owned by institutional investors.

ProAssurance Stock Up 2.0 %

Shares of PRA opened at $15.66 on Monday. ProAssurance Co. has a 52 week low of $10.76 and a 52 week high of $17.79. The firm has a market cap of $801.22 million, a P/E ratio of 18.87 and a beta of 0.21. The firm’s 50-day simple moving average is $15.05 and its 200 day simple moving average is $15.23. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.28 and a current ratio of 0.28.

ProAssurance (NYSE:PRA) last announced its quarterly earnings results on Monday, February 24th. The insurance provider reported $0.36 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 business had revenue of $287.52 million for the quarter, compared to analyst estimates of $274.56 million. On average, analysts forecast that ProAssurance Co. will post 0.8 earnings per share for the current year.

Wall Street Analyst Weigh In

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

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.