ProAssurance Co. (NYSE:PRA) Short Interest Update

ProAssurance Co. (NYSE:PRA) was the recipient of a significant increase in short interest in March. As of March 15th, there was short interest totalling 629,700 shares, an increase of 26.4% from the February 28th total of 498,300 shares. Based on an average trading volume of 593,200 shares, the days-to-cover ratio is presently 1.1 days. Approximately 1.3% of the company’s stock are short sold.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. 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 raised 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 valued at $99,000 after acquiring an additional 3,714 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. lifted its holdings in 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 acquiring an additional 4,052 shares during the period. Finally, KLP Kapitalforvaltning AS purchased a new stake in ProAssurance in the 4th quarter worth approximately $150,000. Hedge funds and other institutional investors own 85.58% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com started coverage on shares of ProAssurance in a research report on Tuesday. They set a “hold” rating on the stock.

ProAssurance Stock Up 0.1 %

Shares of PRA stock opened at $23.37 on Thursday. ProAssurance has a fifty-two week low of $10.76 and a fifty-two week high of $23.48. The firm has a market capitalization of $1.20 billion, a PE ratio of 28.16 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. The stock’s 50-day simple moving average is $16.73 and its 200-day simple moving average is $15.97.

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. Equities analysts expect that ProAssurance will post 0.8 earnings per share for the current year.

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.