ProAssurance Corporation (NYSE:PRA) Receives Average Rating of "Reduce" from Analysts

Key Points

• ProAssurance Corporation (NYSE:PRA) has received an average rating of "Reduce" from analysts, with one sell rating and five hold ratings, and a 12-month price target of $21.50.
• In recent trading, ProAssurance's stock is showing market fluctuations, with the current price at $23.75, a twelve month low of $12.43, and a high of $24.14.
• The company reported $0.52 EPS for the last quarter, exceeding analysts' expectations of $0.19, despite a year-over-year revenue decline of 19.9%.

Shares of ProAssurance Corporation (NYSE:PRA - Get Free Report) have been given an average recommendation of "Reduce" by the six brokerages that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating and five have issued a hold rating on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $21.50.

Several research firms have commented on PRA. Zacks Research raised shares of ProAssurance from a "strong sell" rating to a "hold" rating in a research report on Wednesday, August 20th. Wall Street Zen began coverage on shares of ProAssurance in a report on Monday, May 19th. They set a "hold" rating for the company.

Institutional Trading of ProAssurance

A number of hedge funds have recently bought and sold shares of PRA. Russell Investments Group Ltd. boosted its holdings in ProAssurance by 356.2% in the 2nd quarter. Russell Investments Group Ltd. now owns 1,405 shares of the insurance provider's stock valued at $32,000 after purchasing an additional 1,097 shares during the period. Quantbot Technologies LP bought a new stake in ProAssurance in the 1st quarter valued at $47,000. GAMMA Investing LLC boosted its holdings in ProAssurance by 307.3% in the 1st quarter. GAMMA Investing LLC now owns 2,073 shares of the insurance provider's stock valued at $48,000 after purchasing an additional 1,564 shares during the period. CWM LLC boosted its holdings in ProAssurance by 95.9% in the 1st quarter. CWM LLC now owns 2,204 shares of the insurance provider's stock valued at $51,000 after purchasing an additional 1,079 shares during the period. Finally, Longfellow Investment Management Co. LLC bought a new stake in ProAssurance in the 1st quarter valued at $75,000. 85.58% of the stock is owned by institutional investors.

ProAssurance Stock Up 0.1%

ProAssurance stock traded up $0.04 during trading hours on Thursday, hitting $23.82. The company had a trading volume of 74,149 shares, compared to its average volume of 636,696. The firm has a market capitalization of $1.22 billion, a P/E ratio of 25.34 and a beta of 0.12. 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 firm's fifty day moving average is $23.79 and its 200-day moving average is $22.38. ProAssurance has a fifty-two week low of $12.43 and a fifty-two week high of $24.14.

ProAssurance (NYSE:PRA - Get Free Report) last posted its earnings results on Tuesday, August 5th. The insurance provider reported $0.52 EPS for the quarter, topping the consensus estimate of $0.19 by $0.33. The company had revenue of $271.94 million during the quarter, compared to the consensus estimate of $266.72 million. ProAssurance had a net margin of 4.33% and a return on equity of 5.62%. The company's revenue for the quarter was down 19.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.23 earnings per share. On average, research 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.