ProAssurance Corporation (NYSE:PRA) Receives Average Rating of "Reduce" 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 currently covering the company, 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 1 year price target among brokers that have updated their coverage on the stock in the last year is $21.50.

Several analysts have recently issued reports on PRA shares. Wall Street Zen began coverage on shares of ProAssurance in a research report on Monday, May 19th. They set a "hold" rating on the stock. Piper Sandler increased their price objective on shares of ProAssurance from $18.00 to $25.00 and gave the stock a "neutral" rating in a research report on Thursday, May 8th.

ProAssurance Trading Up 0.1%

Shares of PRA stock opened at $23.92 on Friday. ProAssurance has a 1 year low of $12.05 and a 1 year high of $24.00. The firm has a fifty day moving average price of $23.41 and a 200-day moving average price of $21.00. 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 company has a market cap of $1.23 billion, a price-to-earnings ratio of 25.44 and a beta of 0.13.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in PRA. Sterling Capital Management LLC grew its position in ProAssurance by 859.4% during the fourth quarter. Sterling Capital Management LLC now owns 1,631 shares of the insurance provider's stock valued at $26,000 after buying an additional 1,461 shares during the period. Quantbot Technologies LP acquired a new stake in ProAssurance during the first quarter valued at $47,000. GAMMA Investing LLC grew its position in ProAssurance by 307.3% during the first 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 grew its position in ProAssurance by 95.9% during the first 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 acquired a new stake in ProAssurance during the first quarter valued at $75,000. Hedge funds and other institutional investors own 85.58% of the company's stock.

ProAssurance Company Profile

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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