Cornercap Investment Counsel Inc. Takes Position in ProAssurance Co. (NYSE:PRA)

Cornercap Investment Counsel Inc. purchased a new stake in shares of ProAssurance Co. (NYSE:PRA) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 12,840 shares of the insurance provider’s stock, valued at approximately $204,000.

Several other hedge funds have also added to or reduced their stakes in the company. KBC Group NV grew its holdings in ProAssurance by 75.4% during the 4th 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. Point72 Asia Singapore Pte. Ltd. grew its stake in shares of ProAssurance by 94.3% during the third 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 period. KLP Kapitalforvaltning AS bought a new stake in ProAssurance in the fourth quarter valued at about $150,000. FMR LLC lifted its stake in ProAssurance by 197.8% in the third quarter. FMR LLC now owns 12,063 shares of the insurance provider’s stock valued at $181,000 after buying an additional 8,012 shares during the period. Finally, BNP Paribas Financial Markets boosted its holdings in ProAssurance by 30.0% during the third quarter. BNP Paribas Financial Markets now owns 17,978 shares of the insurance provider’s stock worth $270,000 after buying an additional 4,149 shares during the last quarter. Institutional investors own 85.58% of the company’s stock.

ProAssurance Price Performance

Shares of PRA stock opened at $23.34 on Monday. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.35. ProAssurance Co. has a 12-month low of $10.76 and a 12-month high of $24.39. The firm has a fifty day moving average of $16.23 and a 200-day moving average of $15.78. The firm has a market capitalization of $1.19 billion, a price-to-earnings ratio of 28.11 and a beta of 0.21.

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

Analyst Upgrades and Downgrades

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

About ProAssurance

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.