ProAssurance Corporation (NYSE:PRA) Receives Average Rating of "Hold" from Brokerages

Key Points

• ProAssurance Corporation (NYSE:PRA) received an average rating of "Hold" from six brokerages, with one analyst issuing a sell rating, four holding, and one giving a strong buy rating.
• The company's 12-month average price target among brokers is $21.50, while it currently trades at $23.93.
• ProAssurance reported earnings of $0.52 EPS for the last quarter, exceeding estimates of $0.19, although quarterly revenue decreased by 19.9% from the previous year.

ProAssurance Corporation (NYSE:PRA - Get Free Report) has been given an average recommendation of "Hold" by the six brokerages that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a strong buy rating on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $21.50.

Separately, Zacks Research raised ProAssurance from a "hold" rating to a "strong-buy" rating in a research note on Monday, September 22nd.

ProAssurance Price Performance

Shares of NYSE:PRA opened at $23.93 on Monday. The firm has a market cap of $1.23 billion, a price-to-earnings ratio of 25.45 and a beta of 0.12. ProAssurance has a 1 year low of $13.00 and a 1 year high of $24.14. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.33. The business has a fifty day simple moving average of $23.83 and a 200 day simple moving average of $23.20.

ProAssurance (NYSE:PRA - Get Free Report) last issued its earnings results on Tuesday, August 5th. The insurance provider reported $0.52 EPS for the quarter, beating analysts' consensus estimates of $0.19 by $0.33. ProAssurance had a return on equity of 5.62% and a net margin of 4.33%.The firm had revenue of $271.94 million for the quarter, compared to the consensus estimate of $266.72 million. During the same quarter in the previous year, the company posted $0.23 earnings per share. The business's quarterly revenue was down 19.9% compared to the same quarter last year. As a group, sell-side analysts predict that ProAssurance will post 0.8 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Russell Investments Group Ltd. lifted its stake in shares of 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 last quarter. Quantbot Technologies LP bought a new position in ProAssurance during the first quarter valued at about $47,000. GAMMA Investing LLC lifted its position in shares of ProAssurance by 307.3% in the first quarter. GAMMA Investing LLC now owns 2,073 shares of the insurance provider's stock worth $48,000 after buying an additional 1,564 shares during the last quarter. CWM LLC boosted its stake in shares of ProAssurance by 95.9% during the 1st quarter. CWM LLC now owns 2,204 shares of the insurance provider's stock worth $51,000 after acquiring an additional 1,079 shares in the last quarter. Finally, Longfellow Investment Management Co. LLC acquired a new position in shares of ProAssurance during the 1st quarter valued at about $75,000. 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.

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