ProAssurance Corporation (NYSE:PRA) Receives $21.50 Average PT from Analysts

Key Points

• ProAssurance Corporation (NYSE:PRA) has received an average analyst rating of "Reduce", with one sell recommendation and four holds among five firms covering the stock.
• The average one-year price target for ProAssurance shares is $21.50, reflecting the recent adjustments made by analysts.
• In its latest earnings report, ProAssurance posted $0.52 earnings per share, surpassing estimates and reporting a revenue decline of 19.9% year over year.

Shares of ProAssurance Corporation (NYSE:PRA - Get Free Report) have earned an average recommendation of "Reduce" from the five ratings firms that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation and four have assigned a hold recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $21.50.

Several equities research analysts have recently issued reports on the stock. Piper Sandler increased their target price 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. Wall Street Zen assumed coverage on shares of ProAssurance in a research report on Monday, May 19th. They set a "hold" rating for the company.

Institutional Investors Weigh In On ProAssurance

Institutional investors and hedge funds have recently bought and sold shares of the stock. Magnetar Financial LLC increased its stake in shares of ProAssurance by 27.6% during the second quarter. Magnetar Financial LLC now owns 2,956,808 shares of the insurance provider's stock worth $67,504,000 after acquiring an additional 638,992 shares during the period. Dimensional Fund Advisors LP grew its position in ProAssurance by 4.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,703,953 shares of the insurance provider's stock worth $43,019,000 after buying an additional 123,232 shares during the period. Alliancebernstein L.P. grew its position in ProAssurance by 2,035.6% during the first quarter. Alliancebernstein L.P. now owns 1,516,479 shares of the insurance provider's stock worth $35,410,000 after buying an additional 1,445,469 shares during the period. Qube Research & Technologies Ltd grew its position in ProAssurance by 186.1% during the second quarter. Qube Research & Technologies Ltd now owns 1,491,060 shares of the insurance provider's stock worth $34,041,000 after buying an additional 969,833 shares during the period. Finally, Hsbc Holdings PLC grew its position in ProAssurance by 1,310.1% during the second quarter. Hsbc Holdings PLC now owns 939,428 shares of the insurance provider's stock worth $21,433,000 after buying an additional 872,808 shares during the period. 85.58% of the stock is owned by hedge funds and other institutional investors.

ProAssurance Price Performance

Shares of PRA stock traded down $0.10 during trading hours on Friday, hitting $23.93. The stock had a trading volume of 80,100 shares, compared to its average volume of 657,490. ProAssurance has a one year low of $12.43 and a one year high of $24.14. 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 stock's 50-day moving average price is $23.46 and its two-hundred day moving average price is $21.15. The stock has a market capitalization of $1.23 billion, a price-to-earnings ratio of 25.45 and a beta of 0.13.

ProAssurance (NYSE:PRA - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The insurance provider reported $0.52 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.19 by $0.33. The firm had revenue of $271.94 million during the quarter, compared to analyst estimates of $266.72 million. ProAssurance had a return on equity of 5.62% and a net margin of 4.33%. ProAssurance's quarterly revenue was down 19.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.23 earnings per share. Equities analysts forecast that ProAssurance will post 0.8 EPS 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.