ProAssurance Corporation (NYSE:PRA - Get Free Report) has been assigned a consensus recommendation of "Reduce" from the five analysts that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation and four have assigned a hold recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $21.50.
PRA has been the subject of several recent analyst reports. Raymond James Financial downgraded shares of ProAssurance from a "market perform" rating to an "underperform" rating in a research note on Thursday, April 10th. Wall Street Zen assumed coverage on shares of ProAssurance in a research note on Monday, May 19th. They issued a "hold" rating for the company. Citizens Jmp downgraded shares of ProAssurance from an "outperform" rating to a "market perform" rating in a research note on Thursday, April 3rd. Piper Sandler increased their price target 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 downgraded shares of ProAssurance to a "market perform" rating in a research note on Thursday, April 3rd.
Get Our Latest Report on PRA
ProAssurance Stock Performance
Shares of NYSE:PRA remained flat at $23.85 during mid-day trading on Wednesday. 378,162 shares of the company were exchanged, compared to its average volume of 489,183. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $1.22 billion, a price-to-earnings ratio of 29.09 and a beta of 0.12. The company has a 50 day simple moving average of $23.21 and a 200-day simple moving average of $20.07. ProAssurance has a 52 week low of $11.17 and a 52 week high of $23.93.
ProAssurance (NYSE:PRA - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The insurance provider reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.06). ProAssurance had a return on equity of 4.51% and a net margin of 3.72%. The firm had revenue of $236.28 million during the quarter, compared to the consensus estimate of $272.85 million. During the same period in the previous year, the company posted $0.08 EPS. The company's revenue for the quarter was down 4.5% compared to the same quarter last year. On average, research analysts anticipate that ProAssurance will post 0.8 EPS for the current fiscal year.
Institutional Trading of ProAssurance
A number of large investors have recently made changes to their positions in PRA. Sterling Capital Management LLC grew its holdings in ProAssurance by 859.4% during the 4th quarter. Sterling Capital Management LLC now owns 1,631 shares of the insurance provider's stock valued at $26,000 after purchasing an additional 1,461 shares during the last quarter. Quantbot Technologies LP purchased a new stake in ProAssurance in the 1st quarter valued at about $47,000. GAMMA Investing LLC boosted its position 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 buying an additional 1,564 shares during the period. CWM LLC boosted its position 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 buying an additional 1,079 shares during the period. Finally, Longfellow Investment Management Co. LLC purchased a new stake in ProAssurance in the 1st quarter valued at about $75,000. 85.58% of the stock is currently owned by institutional investors.
About ProAssurance
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Get Free ReportProAssurance 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.
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