ProAssurance (NYSE:PRA) Reaches New 52-Week High – Here’s Why

ProAssurance Co. (NYSE:PRA)’s stock price reached a new 52-week high on Friday . The stock traded as high as $23.29 and last traded at $23.05, with a volume of 17275803 shares traded. The stock had previously closed at $15.54.

Wall Street Analysts Forecast Growth

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

ProAssurance Stock Up 48.3 %

The firm has a market capitalization of $1.18 billion, a price-to-earnings ratio of 27.77 and a beta of 0.21. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.28 and a quick ratio of 0.28. The business has a fifty day moving average price of $15.23 and a two-hundred day moving average price of $15.32.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PRA. Sterling Capital Management LLC grew its position in ProAssurance by 859.4% during the 4th quarter. Sterling Capital Management LLC now owns 1,631 shares of the insurance provider’s stock worth $26,000 after purchasing an additional 1,461 shares during the period. KBC Group NV grew its holdings in ProAssurance by 75.4% during the fourth quarter. KBC Group NV now owns 4,184 shares of the insurance provider’s stock worth $67,000 after acquiring an additional 1,798 shares during the period. Aquatic Capital Management LLC grew its holdings in ProAssurance by 148.6% during the fourth quarter. Aquatic Capital Management LLC now owns 6,214 shares of the insurance provider’s stock worth $99,000 after acquiring an additional 3,714 shares during the period. Point72 Asia Singapore Pte. Ltd. raised its position in ProAssurance by 94.3% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 8,347 shares of the insurance provider’s stock valued at $126,000 after acquiring an additional 4,052 shares in the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new position in ProAssurance in the fourth quarter valued at approximately $150,000. 85.58% of the stock is currently owned by institutional investors and hedge funds.

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.