ProAssurance (NYSE:PRA) Sees Strong Trading Volume – Time to Buy?

Shares of ProAssurance Co. (NYSE:PRA) saw unusually-high trading volume on Monday . Approximately 1,710,962 shares were traded during mid-day trading, an increase of 418% from the previous session’s volume of 330,595 shares.The stock last traded at $23.13 and had previously closed at $23.16.

Wall Street Analysts Forecast Growth

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

ProAssurance Stock Up 0.3 %

The stock’s 50 day moving average is $15.74 and its 200 day moving average is $15.55. The company has a market capitalization of $1.19 billion, a PE ratio of 28.14 and a beta of 0.21. 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 posted its quarterly earnings results on Monday, February 24th. The insurance provider reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.19. ProAssurance had a return on equity of 2.65% and a net margin of 3.71%. The firm had revenue of $287.52 million during the quarter, compared to analyst estimates of $274.56 million. On average, sell-side analysts anticipate that ProAssurance Co. will post 0.8 EPS for the current fiscal year.

Institutional Investors Weigh In On ProAssurance

A number of institutional investors and hedge funds have recently modified their holdings of PRA. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in ProAssurance by 10.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 157,977 shares of the insurance provider’s stock worth $2,513,000 after purchasing an additional 15,542 shares in the last quarter. ProShare Advisors LLC increased its stake in ProAssurance by 44.4% in the 4th quarter. ProShare Advisors LLC now owns 15,354 shares of the insurance provider’s stock worth $244,000 after acquiring an additional 4,723 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of ProAssurance by 4.0% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,991 shares of the insurance provider’s stock valued at $461,000 after acquiring an additional 1,127 shares in the last quarter. Lighthouse Investment Partners LLC grew its holdings in shares of ProAssurance by 243.5% during the fourth quarter. Lighthouse Investment Partners LLC now owns 111,766 shares of the insurance provider’s stock worth $1,778,000 after purchasing an additional 79,226 shares in the last quarter. Finally, Janus Henderson Group PLC increased its position in shares of ProAssurance by 2,655.2% in the fourth quarter. Janus Henderson Group PLC now owns 645,358 shares of the insurance provider’s stock worth $10,268,000 after purchasing an additional 621,935 shares during the last quarter. 85.58% of the stock is owned by hedge funds and other institutional investors.

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.