Diamond Hill Capital Management Inc Increased Proassurance Corp. (NYSE:PRA) Stake by $30.77 Million

August 12, 2018 - By Sheila Anderson

ProAssurance Corporation (NYSE:PRA) LogoInvestors sentiment decreased to 0.98 in 2018 Q1. Its down 0.10, from 1.08 in 2017Q4. It is negative, as 20 investors sold PRA shares while 70 reduced holdings. 30 funds opened positions while 58 raised stakes. 42.63 million shares or 1.01% more from 42.20 million shares in 2017Q4 were reported. Susquehanna Group Llp reported 24,157 shares. Shelton Capital Mgmt holds 0.02% of its portfolio in ProAssurance Corporation (NYSE:PRA) for 4,806 shares. Ent Fin Services has 658 shares. Credit Suisse Ag has invested 0% in ProAssurance Corporation (NYSE:PRA). Victory Mgmt holds 0.18% in ProAssurance Corporation (NYSE:PRA) or 1.74 million shares. Proshare Advsr Ltd Company, Maryland-based fund reported 9,516 shares. Pinebridge Invests Ltd Partnership holds 0.06% of its portfolio in ProAssurance Corporation (NYSE:PRA) for 48,731 shares. Advisory Serv Net has invested 0% in ProAssurance Corporation (NYSE:PRA). Numerixs Investment Tech has invested 0.03% in ProAssurance Corporation (NYSE:PRA). Legacy Private Tru holds 0.03% or 5,136 shares. First Quadrant Lp Ca, a California-based fund reported 1,245 shares. Ameriprise Finance accumulated 0.01% or 289,765 shares. 357,081 are owned by Epoch Inv Prtnrs. Menta Capital Ltd Liability Corp holds 6,400 shares or 0.07% of its portfolio. Massmutual Trust Company Fsb Adv accumulated 22 shares.

Since May 7, 2018, it had 3 insider buys, and 0 selling transactions for $282,150 activity. Another trade for 2,000 shares valued at $78,400 was made by Gorrie Magnus James on Wednesday, June 13. O NEIL FRANK B bought $122,250 worth of stock or 3,000 shares.

Diamond Hill Capital Management Inc increased its stake in Proassurance Corp. (NYSE:PRA) by 255.05% based on its latest 2018Q2 regulatory filing with the SEC. Diamond Hill Capital Management Inc bought 879,264 shares as the company’s stock declined 18.06% with the market. The hedge fund held 1.22M shares of the property-casualty insurers company at the end of 2018Q2, valued at $43.39 million, up from 344,747 at the end of the previous reported quarter. Diamond Hill Capital Management Inc who had been investing in Proassurance Corp. for a number of months, seems to be bullish on the $2.41 billion market cap company. The stock increased 1.01% or $0.45 during the last trading session, reaching $45.05. About 444,724 shares traded. ProAssurance Corporation (NYSE:PRA) has declined 26.87% since August 13, 2017 and is downtrending. It has underperformed by 39.44% the S&P500.

Diamond Hill Capital Management Inc, which manages about $12.19 billion and $19.48B US Long portfolio, decreased its stake in Bok Financial Corp. (NASDAQ:BOKF) by 158,947 shares to 653,661 shares, valued at $61.45M in 2018Q2, according to the filing. It also reduced its holding in Abbott Laboratories (NYSE:ABT) by 349,757 shares in the quarter, leaving it with 10.12M shares, and cut its stake in Coty Inc. (Cl A) (NYSE:COTY).

Diamond Hill Capital is known for its fundamental, bottom-up model of its investment strategy. Using a Diamond Hill proprietary investment model to investigate intrinsic value, the firm studies normalized earnings and growth rate, compares payout ratio to dividends, figures terminal earnings multiple and calculates the required rate of return. Diamond Hill Capital was founded in 2000 by Ric Dillon, and Chuck Bath is the firm’s co-manager. Diamond Hill Capital Management Inc is a Ohio-based hedge fund that was founded by Ric Dillon. It had more than $12.19 billion assets under management in January, 2015. Taken from Diamond Hill Capital Management latest Adv, the fund reported to have 80 full and part-time employees. Among which 35 performing investment advisory and research functions. The hedge fund had more than 1850 clients.

ProAssurance Corporation (NYSE:PRA) Ratings Coverage

Among 3 analysts covering Pro-Assurance Corp (NYSE:PRA), 0 have Buy rating, 0 Sell and 3 Hold. Therefore 0 are positive. Pro-Assurance Corp had 6 analyst reports since February 22, 2018 according to SRatingsIntel. The stock of ProAssurance Corporation (NYSE:PRA) earned “Hold” rating by Keefe Bruyette & Woods on Monday, February 26. SunTrust maintained the stock with “Buy” rating in Thursday, February 22 report. The firm has “Hold” rating given on Thursday, February 22 by Sandler O’Neill. The company was downgraded on Wednesday, April 4 by SunTrust. The firm earned “Hold” rating on Friday, April 6 by Sandler O’Neill. The stock has “Hold” rating by Keefe Bruyette & Woods on Tuesday, April 10.

ProAssurance Corporation, through its subsidiaries, provides property and casualty insurance, and reinsurance products in the United States. The company has market cap of $2.41 billion. The firm operates through Specialty Property and Casualty, Workers' Compensation, and Lloyd's Syndicate divisions. It has a 31.07 P/E ratio. It offers professional liability insurance for healthcare professionals and facilities; professional liability insurance for attorneys; liability insurance for medical technology and life sciences risks; and workers' compensation insurance for employers, groups, and associations.

More recent ProAssurance Corporation (NYSE:PRA) news were published by: Streetinsider.com which released: “ProAssurance (PRA) Promotes Dana S. Hendricks to CFO” on July 25, 2018. Also Nasdaq.com published the news titled: “Detailed Research: Economic Perspectives on Campbell Soup, Castle Brands, ProAssurance, General Mills, Foot …” on July 26, 2018. Seekingalpha.com‘s news article titled: “ProAssurance Corporation (PRA) CEO Stan Starnes on Q2 2018 Results – Earnings Call Transcript” with publication date: August 12, 2018 was also an interesting one.

ProAssurance Corporation (NYSE:PRA) Institutional Positions Chart

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