BNP Paribas Arbitrage SA Has $462,000 Position in ProAssurance Co. (PRA)

BNP Paribas Arbitrage SA boosted its holdings in ProAssurance Co. (NYSE:PRA) by 8.3% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 13,351 shares of the insurance provider’s stock after acquiring an additional 1,019 shares during the quarter. BNP Paribas Arbitrage SA’s holdings in ProAssurance were worth $462,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Welch Group LLC grew its position in ProAssurance by 2.4% in the first quarter. Welch Group LLC now owns 43,528 shares of the insurance provider’s stock valued at $1,507,000 after purchasing an additional 1,039 shares in the last quarter. Deutsche Bank AG grew its position in shares of ProAssurance by 14.8% in the 4th quarter. Deutsche Bank AG now owns 189,527 shares of the insurance provider’s stock valued at $7,685,000 after acquiring an additional 24,451 shares during the period. Geode Capital Management LLC grew its position in shares of ProAssurance by 11.2% in the 4th quarter. Geode Capital Management LLC now owns 585,942 shares of the insurance provider’s stock valued at $23,765,000 after acquiring an additional 59,250 shares during the period. Norges Bank bought a new position in shares of ProAssurance in the 4th quarter valued at about $33,494,000. Finally, Massmutual Trust Co. FSB ADV bought a new position in shares of ProAssurance in the 4th quarter valued at about $42,000. Institutional investors and hedge funds own 80.23% of the company’s stock.

Shares of PRA opened at $38.98 on Friday. ProAssurance Co. has a one year low of $34.11 and a one year high of $49.47. The stock has a market capitalization of $2.06 billion, a PE ratio of 26.34 and a beta of 0.65. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.20.

ProAssurance (NYSE:PRA) last announced its quarterly earnings data on Thursday, April 25th. The insurance provider reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.23). The firm had revenue of $268.88 million during the quarter, compared to the consensus estimate of $238.55 million. ProAssurance had a net margin of 7.01% and a return on equity of 3.98%. The business’s revenue was up 33.8% on a year-over-year basis. During the same period last year, the business earned $0.40 EPS. On average, research analysts forecast that ProAssurance Co. will post 0.72 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Monday, April 22nd. Stockholders of record on Friday, March 29th were paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date of this dividend was Thursday, March 28th. ProAssurance’s dividend payout ratio is presently 83.78%.

A number of brokerages have recently commented on PRA. Boenning Scattergood reissued a “hold” rating on shares of ProAssurance in a research report on Friday, April 26th. JMP Securities decreased their price objective on shares of ProAssurance from $50.00 to $45.00 and set a “market outperform” rating for the company in a research report on Wednesday, April 10th. Finally, ValuEngine raised shares of ProAssurance from a “sell” rating to a “hold” rating in a research report on Wednesday, May 1st. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. ProAssurance currently has an average rating of “Hold” and a consensus target price of $47.00.

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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, Segregated Portfolio Cell Reinsurance, and Lloyd's Syndicate segments.

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Institutional Ownership by Quarter for ProAssurance (NYSE:PRA)

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