ProAssurance Corporation (NYSE:PRA) Receives Consensus Rating of “Hold” from Analysts

Shares of ProAssurance Corporation (NYSE:PRA) have received a consensus recommendation of “Hold” from the seven research firms that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $21.50.

Several research analysts have recently weighed in on PRA shares. Weiss Ratings reiterated a “hold (c)” rating on shares of ProAssurance in a research note on Saturday, September 27th. Zacks Research upgraded shares of ProAssurance from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 22nd.

ProAssurance Trading Up 0.7%

Shares of ProAssurance stock opened at $24.16 on Monday. The company’s fifty day simple moving average is $23.86 and its 200-day simple moving average is $23.39. The stock has a market capitalization of $1.24 billion, a PE ratio of 25.70 and a beta of 0.12. ProAssurance has a 1-year low of $13.00 and a 1-year high of $24.19. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.26 and a quick ratio of 0.26.

ProAssurance (NYSE:PRA) last issued its quarterly earnings results on Tuesday, August 5th. The insurance provider reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.33. The business had revenue of $271.94 million for the quarter, compared to analysts’ expectations of $266.72 million. ProAssurance had a net margin of 4.33% and a return on equity of 5.62%. The company’s revenue was down 19.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.23 EPS. As a group, equities analysts anticipate that ProAssurance will post 0.8 earnings per share for the current year.

Institutional Trading of ProAssurance

Institutional investors have recently made changes to their positions in the business. Russell Investments Group Ltd. grew its position in shares of ProAssurance by 356.2% during the second quarter. Russell Investments Group Ltd. now owns 1,405 shares of the insurance provider’s stock worth $32,000 after purchasing an additional 1,097 shares in the last quarter. Quantbot Technologies LP purchased a new stake in shares of ProAssurance during the first quarter worth about $47,000. GAMMA Investing LLC grew its position 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 purchasing an additional 1,564 shares in the last quarter. CWM LLC grew its position in shares of ProAssurance by 95.9% during the first quarter. CWM LLC now owns 2,204 shares of the insurance provider’s stock worth $51,000 after purchasing an additional 1,079 shares in the last quarter. Finally, Longfellow Investment Management Co. LLC bought a new stake in ProAssurance in the 1st quarter valued at $75,000. Hedge funds and other institutional investors 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.