ProAssurance (NYSE:PRA) Coverage Initiated by Analysts at StockNews.com

Stock analysts at StockNews.com began coverage on shares of ProAssurance (NYSE:PRA - Get Free Report) in a research note issued on Monday. The firm set a "hold" rating on the insurance provider's stock.

Several other equities research analysts also recently weighed in on PRA. Citizens Jmp downgraded shares of ProAssurance from an "outperform" rating to a "market perform" rating in a research note on Thursday, April 3rd. Citigroup lowered shares of ProAssurance to a "market perform" rating in a research report on Thursday, April 3rd. Piper Sandler increased their price objective on shares of ProAssurance from $18.00 to $25.00 and gave the company a "neutral" rating in a research report on Thursday, May 8th. Finally, Raymond James lowered shares of ProAssurance from a "market perform" rating to an "underperform" rating in a research report on Thursday, April 10th. One analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, ProAssurance currently has an average rating of "Hold" and a consensus target price of $21.00.

ProAssurance Price Performance

PRA stock opened at $23.24 on Monday. The firm has a market cap of $1.19 billion, a P/E ratio of 27.99 and a beta of 0.04. ProAssurance has a 52 week low of $10.76 and a 52 week high of $23.70. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.28 and a current ratio of 0.28. The firm's fifty day moving average is $22.23 and its 200 day moving average is $17.97.

ProAssurance (NYSE:PRA - Get Free Report) last issued its earnings results on Tuesday, May 6th. The insurance provider reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.06). ProAssurance had a return on equity of 2.65% and a net margin of 3.71%. The firm had revenue of $236.28 million during the quarter, compared to analysts' expectations of $272.85 million. During the same period last year, the firm posted $0.08 earnings per share. The firm's quarterly revenue was down 4.5% on a year-over-year basis. Research analysts predict that ProAssurance will post 0.8 earnings per share for the current year.

Institutional Investors Weigh In On ProAssurance

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. raised its position in ProAssurance by 47.6% in the first quarter. Goldman Sachs Group Inc. now owns 511,759 shares of the insurance provider's stock worth $11,950,000 after acquiring an additional 165,024 shares in the last quarter. Jones Financial Companies Lllp acquired a new position in shares of ProAssurance in the 1st quarter valued at about $600,000. PenderFund Capital Management Ltd. acquired a new position in shares of ProAssurance in the 1st quarter valued at about $119,000. Millennium Management LLC raised its holdings in shares of ProAssurance by 181.5% during the 1st quarter. Millennium Management LLC now owns 306,540 shares of the insurance provider's stock valued at $7,158,000 after buying an additional 197,663 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in ProAssurance by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,293 shares of the insurance provider's stock worth $707,000 after purchasing an additional 1,302 shares during the last quarter. 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.

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