ProAssurance Corporation (PRA): Hedge Funds and Insiders Are Bearish, What Should You Do?

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ProAssurance Corporation (NYSE:PRA) was in 19 hedge funds’ portfolio at the end of March. PRA investors should be aware of a decrease in activity from the world’s largest hedge funds in recent months. There were 20 hedge funds in our database with PRA positions at the end of the previous quarter.

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With these “truths” under our belt, we’re going to take a peek at the latest action encompassing ProAssurance Corporation (NYSE:PRA).

Hedge fund activity in ProAssurance Corporation (NYSE:PRA)

Heading into Q2, a total of 19 of the hedge funds we track were bullish in this stock, a change of -5% from the previous quarter. With hedge funds’ positions undergoing their usual ebb and flow, there exists a few notable hedge fund managers who were boosting their holdings significantly.

ProAssurance Corporation (NYSE:PRA)According to our comprehensive database, Chuck Royce’s Royce & Associates had the most valuable position in ProAssurance Corporation (NYSE:PRA), worth close to $80.9 million, comprising 0.2% of its total 13F portfolio. On Royce & Associates’s heels is Bryn Mawr Capital, managed by Ken Gray and Steve Walsh, which held a $42.1 million position; the fund has 3% of its 13F portfolio invested in the stock. Remaining peers that hold long positions include Ken Griffin’s Citadel Investment Group, Brian Ashford-Russell and Tim Woolley’s Polar Capital and Steven Cohen’s SAC Capital Advisors.

Judging by the fact that ProAssurance Corporation (NYSE:PRA) has faced declining sentiment from hedge fund managers, we can see that there exists a select few funds that decided to sell off their full holdings at the end of the first quarter. It’s worth mentioning that Paul Tudor Jones’s Tudor Investment Corp said goodbye to the biggest stake of all the hedgies we monitor, comprising an estimated $0.5 million in stock.. David Harding’s fund, Winton Capital Management, also dropped its stock, about $0.5 million worth. These bearish behaviors are interesting, as aggregate hedge fund interest fell by 1 funds at the end of the first quarter.

What have insiders been doing with ProAssurance Corporation (NYSE:PRA)?

Bullish insider trading is most useful when the primary stock in question has seen transactions within the past 180 days. Over the last 180-day time frame, ProAssurance Corporation (NYSE:PRA) has experienced zero unique insiders purchasing, and zero insider sales (see the details of insider trades here).

Let’s also examine hedge fund and insider activity in other stocks similar to ProAssurance Corporation (NYSE:PRA). These stocks are Corelogic Inc (NYSE:CLGX), Allied World Assurance Co Holdings, AG. (NYSE:AWH), Aspen Insurance Holdings Limited (NYSE:AHL), First American Financial Corp (NYSE:FAF), and Alterra Capital Holdings Ltd (NASDAQ:ALTE). This group of stocks belong to the property & casualty insurance industry and their market caps are similar to PRA’s market cap.

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