ProAssurance Co. (NYSE:PRA) Given Consensus Rating of "Hold" by Analysts

ProAssurance Co. (NYSE:PRA - Get Free Report) has been assigned a consensus recommendation of "Hold" from the six analysts that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $21.00.

Several research firms recently commented on PRA. Raymond James lowered shares of ProAssurance from a "market perform" rating to an "underperform" rating in a research note on Thursday, April 10th. Wall Street Zen began coverage on shares of ProAssurance in a research note on Monday, May 19th. They set a "hold" rating on the stock. Citizens Jmp lowered shares of ProAssurance from an "outperform" rating to a "market perform" rating in a research note on Thursday, April 3rd. Piper Sandler boosted their price objective on shares of ProAssurance from $18.00 to $25.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. Finally, Citigroup cut shares of ProAssurance to a "market perform" rating in a report on Thursday, April 3rd.

Institutional Trading of ProAssurance

Several large investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP grew its position in ProAssurance by 4.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,703,953 shares of the insurance provider's stock valued at $43,019,000 after buying an additional 123,232 shares during the period. Magnetar Financial LLC purchased a new position in ProAssurance during the first quarter valued at approximately $54,121,000. Alliancebernstein L.P. lifted its holdings in ProAssurance by 2,035.6% during the first quarter. Alliancebernstein L.P. now owns 1,516,479 shares of the insurance provider's stock valued at $35,410,000 after purchasing an additional 1,445,469 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in ProAssurance by 0.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,316,249 shares of the insurance provider's stock valued at $20,678,000 after purchasing an additional 4,814 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in ProAssurance by 92.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 690,871 shares of the insurance provider's stock valued at $10,992,000 after purchasing an additional 331,224 shares in the last quarter. 85.58% of the stock is currently owned by institutional investors.

ProAssurance Trading Up 0.1%

Shares of NYSE:PRA traded up $0.03 on Tuesday, hitting $23.18. The company had a trading volume of 164,712 shares, compared to its average volume of 454,939. The firm's 50-day simple moving average is $23.15 and its two-hundred day simple moving average is $18.39. ProAssurance has a 1 year low of $10.76 and a 1 year high of $23.70. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $1.19 billion, a price-to-earnings ratio of 27.92 and a beta of 0.04.

ProAssurance (NYSE:PRA - Get Free Report) last posted its earnings results on Tuesday, May 6th. The insurance provider reported $0.13 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.06). ProAssurance had a return on equity of 2.65% and a net margin of 3.71%. The company had revenue of $236.28 million during the quarter, compared to analysts' expectations of $272.85 million. During the same period in the prior year, the business posted $0.08 earnings per share. The company's revenue for the quarter was down 4.5% on a year-over-year basis. Equities analysts anticipate that ProAssurance will post 0.8 earnings per share for the current fiscal 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.