ProAssurance Corporation (NYSE:PRA - Get Free Report) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $23.93 and last traded at $23.81, with a volume of 450236 shares. The stock had previously closed at $23.82.
Analysts Set New Price Targets
A number of analysts recently issued reports on the company. Wall Street Zen assumed coverage on ProAssurance in a research note on Monday, May 19th. They set a "hold" rating for the company. Citizens Jmp cut ProAssurance from an "outperform" rating to a "market perform" rating in a research note on Thursday, April 3rd. Piper Sandler increased their target price on ProAssurance from $18.00 to $25.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. Raymond James Financial cut ProAssurance from a "market perform" rating to an "underperform" rating in a research note on Thursday, April 10th. Finally, Citigroup cut ProAssurance to a "market perform" rating in a research note on Thursday, April 3rd. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $21.50.
Check Out Our Latest Analysis on ProAssurance
ProAssurance Trading Down 0.1%
The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.26 and a current ratio of 0.26. The business has a 50-day simple moving average of $23.18 and a two-hundred day simple moving average of $19.96. The stock has a market cap of $1.22 billion, a price-to-earnings ratio of 29.06 and a beta of 0.12.
ProAssurance (NYSE:PRA - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The insurance provider reported $0.13 earnings per share for the quarter, missing analysts' consensus estimates of $0.19 by ($0.06). ProAssurance had a return on equity of 4.51% and a net margin of 3.72%. The firm had revenue of $236.28 million for the quarter, compared to analyst estimates of $272.85 million. During the same period last year, the company earned $0.08 EPS. The company's revenue was down 4.5% compared to the same quarter last year. As a group, research analysts forecast that ProAssurance Corporation will post 0.8 EPS for the current year.
Institutional Investors Weigh In On ProAssurance
Several hedge funds have recently added to or reduced their stakes in the business. Mariner LLC lifted its holdings in ProAssurance by 4.2% during the 4th quarter. Mariner LLC now owns 17,007 shares of the insurance provider's stock valued at $271,000 after purchasing an additional 688 shares during the last quarter. GAMMA Investing LLC lifted its holdings in ProAssurance by 50.7% during the 2nd quarter. GAMMA Investing LLC now owns 3,123 shares of the insurance provider's stock valued at $71,000 after purchasing an additional 1,050 shares during the last quarter. CWM LLC lifted its holdings in ProAssurance by 95.9% during the 1st quarter. CWM LLC now owns 2,204 shares of the insurance provider's stock valued at $51,000 after purchasing an additional 1,079 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in ProAssurance by 4.0% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,991 shares of the insurance provider's stock worth $461,000 after buying an additional 1,127 shares during the period. Finally, Sterling Capital Management LLC increased its position 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. Institutional investors and hedge funds own 85.58% of the company's stock.
About ProAssurance
(
Get Free Report)
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.
Read More
Before you consider ProAssurance, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and ProAssurance wasn't on the list.
While ProAssurance currently has a Reduce rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Market downturns give many investors pause, and for good reason. Wondering how to offset this risk? Enter your email address to learn more about using beta to protect your portfolio.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
