Connor Clark & Lunn Investment Management Ltd. Purchases 33,717 Shares of ProAssurance Co. (NYSE:PRA)

Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of ProAssurance Co. (NYSE:PRA) by 49.3% in the fourth quarter, Holdings Channel reports. The fund owned 102,152 shares of the insurance provider’s stock after acquiring an additional 33,717 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in ProAssurance were worth $1,625,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently made changes to their positions in PRA. Zacks Investment Management acquired a new position in shares of ProAssurance during the 3rd quarter worth about $5,140,000. Wellington Management Group LLP increased its position in ProAssurance by 3.0% in the 3rd quarter. Wellington Management Group LLP now owns 3,164,085 shares of the insurance provider’s stock worth $47,588,000 after buying an additional 91,987 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of ProAssurance by 34.8% during the third quarter. JPMorgan Chase & Co. now owns 253,175 shares of the insurance provider’s stock worth $3,808,000 after buying an additional 65,325 shares during the last quarter. Wakefield Asset Management LLLP bought a new stake in shares of ProAssurance in the fourth quarter valued at approximately $1,036,000. Finally, Barclays PLC grew its stake in shares of ProAssurance by 307.5% in the third quarter. Barclays PLC now owns 85,117 shares of the insurance provider’s stock worth $1,280,000 after acquiring an additional 64,228 shares during the last quarter. 85.58% of the stock is owned by institutional investors and hedge funds.

ProAssurance Trading Down 1.2 %

ProAssurance stock opened at $15.55 on Thursday. The business has a 50 day moving average price of $15.07 and a two-hundred day moving average price of $15.27. 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 $23.32. The stock has a market cap of $795.29 million, a price-to-earnings ratio of 18.73 and a beta of 0.21.

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

Analyst Ratings Changes

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

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.