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

ProAssurance Corporation (NYSE:PRA) has earned a consensus recommendation of “Reduce” from the six analysts that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $21.50.

PRA has been the subject of a number of analyst reports. Zacks Research upgraded shares of ProAssurance from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 20th. Wall Street Zen initiated coverage on shares of ProAssurance in a report on Monday, May 19th. They set a “hold” rating for the company.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Deutsche Bank AG lifted its stake in ProAssurance by 50.1% in the fourth quarter. Deutsche Bank AG now owns 47,679 shares of the insurance provider’s stock valued at $759,000 after buying an additional 15,921 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in ProAssurance by 10.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 157,977 shares of the insurance provider’s stock valued at $2,513,000 after buying an additional 15,542 shares in the last quarter. GAMMA Investing LLC lifted its stake in ProAssurance by 307.3% in the first quarter. GAMMA Investing LLC now owns 2,073 shares of the insurance provider’s stock valued at $48,000 after buying an additional 1,564 shares in the last quarter. Alpine Associates Management Inc. bought a new position in ProAssurance in the first quarter valued at approximately $5,167,000. Finally, Victory Capital Management Inc. bought a new position in ProAssurance in the first quarter valued at approximately $209,000. Institutional investors own 85.58% of the company’s stock.

ProAssurance Stock Up 0.1%

Shares of NYSE:PRA opened at $23.79 on Thursday. ProAssurance has a one year low of $12.43 and a one year high of $24.14. The company has a 50 day moving average of $23.79 and a 200-day moving average of $22.38. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.26 and a quick ratio of 0.26. The stock has a market cap of $1.22 billion, a price-to-earnings ratio of 25.30 and a beta of 0.12.

ProAssurance (NYSE:PRA) last issued its quarterly earnings data on Tuesday, August 5th. The insurance provider reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.33. The firm had revenue of $271.94 million during 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 business’s revenue for the quarter was down 19.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.23 earnings per share. On average, sell-side analysts forecast that ProAssurance will post 0.8 earnings per share for the current year.

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.