Brokerages Set ProAssurance Corporation (NYSE:PRA) PT at $21.00

Shares of ProAssurance Corporation (NYSE:PRA - Get Free Report) have been assigned a consensus recommendation of "Reduce" from the five brokerages that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation and four have assigned a hold recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $21.50.

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

ProAssurance Stock Performance

Shares of NYSE:PRA traded up $0.01 during midday trading on Wednesday, hitting $23.86. The company's stock had a trading volume of 85,848 shares, compared to its average volume of 487,278. ProAssurance has a fifty-two week low of $11.17 and a fifty-two week high of $23.93. 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 stock's 50 day simple moving average is $23.18 and its 200 day simple moving average is $19.96. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.26 and a current ratio of 0.26.

ProAssurance (NYSE:PRA - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The insurance provider reported $0.13 EPS for the quarter, missing analysts' consensus estimates of $0.19 by ($0.06). ProAssurance had a return on equity of 4.51% and a net margin of 3.72%. The business had revenue of $236.28 million for the quarter, compared to analyst estimates of $272.85 million. During the same quarter last year, the firm earned $0.08 earnings per share. The firm's quarterly revenue was down 4.5% compared to the same quarter last year. As a group, research analysts anticipate that ProAssurance will post 0.8 earnings per share for the current year.

Hedge Funds Weigh In On ProAssurance

Several hedge funds have recently added to or reduced their stakes in PRA. Sterling Capital Management LLC grew its holdings in shares of ProAssurance by 859.4% during the fourth quarter. Sterling Capital Management LLC now owns 1,631 shares of the insurance provider's stock worth $26,000 after buying an additional 1,461 shares in the last quarter. Quantbot Technologies LP bought a new position in ProAssurance in the first quarter valued at approximately $47,000. GAMMA Investing LLC grew 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 purchasing an additional 1,564 shares in the last quarter. CWM LLC grew its stake in ProAssurance by 95.9% in the first 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 in the last quarter. Finally, Longfellow Investment Management Co. LLC bought a new position in ProAssurance in the first quarter valued at approximately $75,000. Institutional investors and hedge funds own 85.58% of the company's stock.

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.