ProAssurance (NYSE:PRA) Sees Large Volume Increase – Time to Buy?

Shares of ProAssurance Co. (NYSE:PRA) saw an uptick in trading volume on Monday . 1,710,962 shares were traded during 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 Analyst Weigh In

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

ProAssurance Trading Up 0.0 %

The business’s 50-day moving average is $15.40 and its two-hundred day moving average is $15.41. 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 firm has a market cap of $1.19 billion, a P/E ratio of 27.91 and a beta of 0.21.

ProAssurance (NYSE:PRA) last released its earnings results on Monday, February 24th. The insurance provider reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.19. The business had revenue of $287.52 million for the quarter, compared to analyst estimates of $274.56 million. ProAssurance had a return on equity of 2.65% and a net margin of 3.71%. As a group, analysts predict that ProAssurance Co. will post 0.8 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Sterling Capital Management LLC increased its holdings in shares of ProAssurance by 859.4% in the fourth quarter. Sterling Capital Management LLC now owns 1,631 shares of the insurance provider’s stock valued at $26,000 after purchasing an additional 1,461 shares during the last quarter. KBC Group NV raised its holdings in ProAssurance by 75.4% in the 4th quarter. KBC Group NV now owns 4,184 shares of the insurance provider’s stock valued at $67,000 after acquiring an additional 1,798 shares during the period. Aquatic Capital Management LLC lifted its position 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 last quarter. Point72 Asia Singapore Pte. Ltd. grew its position in shares of ProAssurance by 94.3% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 8,347 shares of the insurance provider’s stock valued at $126,000 after purchasing an additional 4,052 shares during the last quarter. Finally, KLP Kapitalforvaltning AS bought a new position in shares of ProAssurance during the fourth quarter worth approximately $150,000. 85.58% of the stock is 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.