ProAssurance Corporation (NYSE:PRA) Receives $21.00 Consensus PT from Analysts

ProAssurance Corporation (NYSE:PRA - Get Free Report) has earned an average rating of "Hold" from the six analysts that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $21.00.

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

ProAssurance Price Performance

ProAssurance stock traded down $0.02 during mid-day trading on Friday, hitting $22.91. 370,858 shares of the company were exchanged, compared to its average volume of 460,421. ProAssurance has a 12-month low of $10.76 and a 12-month high of $23.70. The company has a market capitalization of $1.17 billion, a P/E ratio of 27.93 and a beta of 0.14. The business's 50 day simple moving average is $23.07 and its two-hundred day simple moving average is $19.16. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.26 and a quick ratio of 0.26.

ProAssurance (NYSE:PRA - Get Free Report) last announced its 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 net margin of 3.72% and a return on equity of 4.51%. The firm had revenue of $236.28 million during the quarter, compared to analyst estimates of $272.85 million. During the same period in the previous year, the firm posted $0.08 EPS. The company's revenue for the quarter was down 4.5% compared to the same quarter last year. Analysts forecast that ProAssurance will post 0.8 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ProAssurance

Several institutional investors and hedge funds have recently modified their holdings of PRA. Sterling Capital Management LLC increased its stake in ProAssurance by 859.4% during the 4th 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 during the period. Quantbot Technologies LP acquired a new stake in shares of ProAssurance during the first quarter valued at about $47,000. GAMMA Investing LLC increased its position in shares of ProAssurance by 307.3% during the first quarter. GAMMA Investing LLC now owns 2,073 shares of the insurance provider's stock worth $48,000 after acquiring an additional 1,564 shares during the last quarter. CWM LLC increased its position in shares of ProAssurance by 95.9% during the first quarter. CWM LLC now owns 2,204 shares of the insurance provider's stock worth $51,000 after acquiring an additional 1,079 shares during the last quarter. Finally, Longfellow Investment Management Co. LLC acquired a new position in shares of ProAssurance in the first quarter worth about $75,000. Hedge funds and other institutional investors 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.