ProAssurance (NYSE:PRA) Research Coverage Started at StockNews.com

StockNews.com started coverage on shares of ProAssurance (NYSE:PRA) in a report released on Thursday. The brokerage issued a hold rating on the insurance provider’s stock.

A number of other research firms have also recently issued reports on PRA. Raymond James cut shares of ProAssurance from a “market perform” rating to an “underperform” rating in a research note on Thursday, April 10th. Citizens Jmp downgraded shares of ProAssurance from an “outperform” rating to a “market perform” rating in a research report on Thursday, April 3rd. Finally, Citigroup cut ProAssurance to a “market perform” rating in a research report on Thursday, April 3rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, ProAssurance currently has a consensus rating of “Hold” and an average target price of $18.67.

ProAssurance Stock Down 0.6 %

PRA stock opened at $23.16 on Thursday. The company has a 50 day moving average of $19.04 and a two-hundred day moving average of $16.84. 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 has a 12-month low of $10.76 and a 12-month high of $23.70. The company has a market cap of $1.18 billion, a price-to-earnings ratio of 27.90 and a beta of -0.09.

ProAssurance (NYSE:PRA) last released its quarterly earnings data on Monday, February 24th. The insurance provider reported $0.36 earnings per share (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 firm had revenue of $287.52 million during the quarter, compared to analysts’ expectations of $274.56 million. On average, equities analysts anticipate that ProAssurance will post 0.8 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ProAssurance

Several large investors have recently made changes to their positions in PRA. GAMMA Investing LLC lifted its holdings in shares of ProAssurance by 307.3% during the first quarter. GAMMA Investing LLC now owns 2,073 shares of the insurance provider’s stock worth $48,000 after buying an additional 1,564 shares during the last quarter. First Citizens Bank & Trust Co. bought a new stake in ProAssurance in the 1st quarter valued at $205,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in ProAssurance by 10.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 157,977 shares of the insurance provider’s stock worth $2,513,000 after purchasing an additional 15,542 shares during the last quarter. ProShare Advisors LLC raised its position in shares of ProAssurance by 44.4% during the fourth quarter. ProShare Advisors LLC now owns 15,354 shares of the insurance provider’s stock valued at $244,000 after buying an additional 4,723 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of ProAssurance by 4.0% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,991 shares of the insurance provider’s stock valued at $461,000 after buying an additional 1,127 shares during the period. Institutional investors and hedge funds own 85.58% of the company’s stock.

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.