Cornercap Investment Counsel Inc. Invests $204,000 in ProAssurance Co. (NYSE:PRA)

Cornercap Investment Counsel Inc. bought a new stake in ProAssurance Co. (NYSE:PRA) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 12,840 shares of the insurance provider’s stock, valued at approximately $204,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wealthfront Advisers LLC bought a new position in ProAssurance during the fourth quarter worth about $359,000. Barclays PLC raised its holdings in shares of ProAssurance by 307.5% in the 3rd quarter. Barclays PLC now owns 85,117 shares of the insurance provider’s stock worth $1,280,000 after buying an additional 64,228 shares in the last quarter. State Street Corp lifted its position in shares of ProAssurance by 1.8% during the 3rd quarter. State Street Corp now owns 1,968,754 shares of the insurance provider’s stock worth $29,610,000 after buying an additional 34,247 shares during the period. Amundi boosted its stake in ProAssurance by 182.3% in the 4th quarter. Amundi now owns 25,634 shares of the insurance provider’s stock valued at $389,000 after buying an additional 16,552 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in ProAssurance by 34.8% in the third quarter. JPMorgan Chase & Co. now owns 253,175 shares of the insurance provider’s stock valued at $3,808,000 after acquiring an additional 65,325 shares during the period. 85.58% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut ProAssurance from a “buy” rating to a “hold” rating in a report on Friday, March 21st.

ProAssurance Stock Performance

NYSE PRA opened at $23.34 on Monday. The firm has a market cap of $1.19 billion, a price-to-earnings ratio of 28.11 and a beta of 0.21. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.35. ProAssurance Co. has a 1-year low of $10.76 and a 1-year high of $24.39. The company has a 50 day moving average of $16.23 and a 200-day moving average of $15.78.

ProAssurance (NYSE:PRA) last issued its quarterly earnings data on Monday, February 24th. The insurance provider reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.19. The firm had revenue of $287.52 million during the quarter, compared to the consensus estimate of $274.56 million. ProAssurance had a return on equity of 2.65% and a net margin of 3.71%. On average, equities analysts forecast that ProAssurance Co. will post 0.8 earnings per share for the current fiscal 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.