ProAssurance (NYSE:PRA) Issues Quarterly Earnings Results

Key Points

• ProAssurance reported quarterly EPS of $0.25, meeting consensus, and revenue of $262.63 million which topped estimates of $216.86 million despite being down 3.5% year‑over‑year; net margin was 4.64% and ROE 6.50%.
• Shares traded essentially flat at $24.66 with a market cap of $1.27 billion, a P/E of 15.22 and a 52‑week range of $22.72–$24.85.
• Analysts have shifted ratings—Zacks to Strong Buy and Wall Street Zen to Hold—resulting in a MarketBeat consensus of Moderate Buy and a $25 target, while institutional investors own 85.58% of the stock.

ProAssurance (NYSE:PRA - Get Free Report) released its quarterly earnings data on Tuesday. The insurance provider reported $0.25 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.25, FiscalAI reports. The company had revenue of $262.63 million during the quarter, compared to analysts' expectations of $216.86 million. ProAssurance had a net margin of 4.64% and a return on equity of 6.50%. The firm's quarterly revenue was down 3.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.13 EPS.

ProAssurance Stock Up 0.0%

Shares of NYSE:PRA traded up $0.01 during trading hours on Tuesday, hitting $24.66. The company's stock had a trading volume of 700,195 shares, compared to its average volume of 916,961. ProAssurance has a 52 week low of $22.72 and a 52 week high of $24.85. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.27 and a quick ratio of 0.27. The company has a market capitalization of $1.27 billion, a price-to-earnings ratio of 15.22 and a beta of 0.04. The firm's fifty day moving average price is $24.59 and its 200 day moving average price is $24.30.

Analysts Set New Price Targets

Several equities research analysts have issued reports on PRA shares. Wall Street Zen raised shares of ProAssurance from a "sell" rating to a "hold" rating in a research report on Saturday. Weiss Ratings reissued a "hold (c)" rating on shares of ProAssurance in a research report on Thursday, January 22nd. Finally, Zacks Research raised shares of ProAssurance from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, February 24th. One investment analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $25.00.

Institutional Investors Weigh In On ProAssurance

Large investors have recently modified their holdings of the business. Russell Investments Group Ltd. raised its holdings 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 in the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of ProAssurance by 271.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,576 shares of the insurance provider's stock valued at $127,000 after purchasing an additional 4,074 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in shares of ProAssurance by 22.8% in the 2nd quarter. BNP Paribas Financial Markets now owns 5,679 shares of the insurance provider's stock valued at $130,000 after purchasing an additional 1,056 shares in the last quarter. Kestra Advisory Services LLC bought a new stake in shares of ProAssurance in the 4th quarter valued at about $191,000. Finally, WINTON GROUP Ltd bought a new stake in shares of ProAssurance in the 3rd quarter valued at about $211,000. Institutional investors own 85.58% of the company's stock.

About ProAssurance

ProAssurance Corporation is a specialty property and casualty insurance holding company headquartered in Birmingham, Alabama. The company focuses primarily on professional liability coverage for healthcare providers, including physicians, surgeons, dentists and allied health professionals. ProAssurance operates through a group of insurance subsidiaries that underwrite both occurrence- and claims-made policies tailored to the unique risks faced by the medical community.

In addition to professional liability insurance, ProAssurance offers a suite of complementary property and casualty products, such as general liability, workers' compensation, property and inland marine, and umbrella coverage.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.