Several other brokerages also recently issued reports on PRA. Boenning Scattergood reissued a hold rating on shares of ProAssurance in a research note on Friday, April 26th. Keefe, Bruyette & Woods downgraded shares of ProAssurance from a market perform rating to an underperform rating and set a $33.00 price objective for the company. in a research note on Monday, May 20th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of Hold and an average price target of $44.25.
Shares of NYSE:PRA opened at $38.89 on Tuesday. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.19. ProAssurance has a 12 month low of $34.11 and a 12 month high of $49.47. The company has a 50-day moving average price of $38.25 and a 200 day moving average price of $38.24. The company has a market cap of $2.13 billion, a price-to-earnings ratio of 26.28 and a beta of 0.55.
ProAssurance (NYSE:PRA) last announced its quarterly earnings data on Wednesday, August 7th. The insurance provider reported $0.08 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by ($0.04). The firm had revenue of $239.62 million during the quarter, compared to the consensus estimate of $246.74 million. ProAssurance had a return on equity of 2.58% and a net margin of 5.33%. The firm’s revenue for the quarter was down 6.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.48 EPS. As a group, equities analysts forecast that ProAssurance will post 0.43 EPS for the current year.
In other ProAssurance news, Director John J. Mcmahon, Jr. sold 933 shares of the firm’s stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $36.19, for a total value of $33,765.27. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.70% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Versant Capital Management Inc lifted its stake in ProAssurance by 43.4% in the second quarter. Versant Capital Management Inc now owns 879 shares of the insurance provider’s stock worth $31,000 after purchasing an additional 266 shares during the last quarter. Municipal Employees Retirement System of Michigan lifted its stake in ProAssurance by 2.0% in the second quarter. Municipal Employees Retirement System of Michigan now owns 16,040 shares of the insurance provider’s stock worth $579,000 after purchasing an additional 320 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its stake in ProAssurance by 1.8% in the first quarter. Oregon Public Employees Retirement Fund now owns 20,772 shares of the insurance provider’s stock worth $719,000 after purchasing an additional 375 shares during the last quarter. Larson Financial Group LLC increased its position in shares of ProAssurance by 10.5% during the second quarter. Larson Financial Group LLC now owns 4,314 shares of the insurance provider’s stock worth $156,000 after acquiring an additional 410 shares during the period. Finally, Mason Street Advisors LLC increased its position in shares of ProAssurance by 3.4% during the first quarter. Mason Street Advisors LLC now owns 17,226 shares of the insurance provider’s stock worth $596,000 after acquiring an additional 569 shares during the period. 80.33% of the stock is owned by institutional investors and hedge funds.
ProAssurance Company Profile
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, Segregated Portfolio Cell Reinsurance, and Lloyd's Syndicate segments.
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