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

StockNews.com assumed coverage on shares of ProAssurance (NYSE:PRA - Free Report) in a report issued on Sunday morning. The brokerage issued a hold rating on the insurance provider's stock.

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

ProAssurance Price Performance

NYSE:PRA traded up $0.08 on Friday, hitting $22.98. The company had a trading volume of 545,749 shares, compared to its average volume of 437,958. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.35. ProAssurance has a 52 week low of $10.76 and a 52 week high of $23.70. The firm has a 50 day moving average of $21.46 and a two-hundred day moving average of $17.69. The stock has a market capitalization of $1.18 billion, a price-to-earnings ratio of 27.69 and a beta of 0.04.

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

Institutional Trading of ProAssurance

Hedge funds and other institutional investors have recently bought and sold shares of the business. Sterling Capital Management LLC raised its holdings in shares of ProAssurance by 859.4% in the fourth quarter. Sterling Capital Management LLC now owns 1,631 shares of the insurance provider's stock valued at $26,000 after acquiring an additional 1,461 shares in the last quarter. GAMMA Investing LLC raised its stake in ProAssurance by 307.3% in the 1st quarter. GAMMA Investing LLC now owns 2,073 shares of the insurance provider's stock worth $48,000 after acquiring an additional 1,564 shares during the last quarter. CWM LLC lifted its stake in shares of ProAssurance by 95.9% in 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 period. Longfellow Investment Management Co. LLC purchased a new position in ProAssurance in the 1st quarter valued at about $75,000. Finally, Wolverine Asset Management LLC acquired a new stake in shares of ProAssurance in the first quarter worth approximately $84,000. 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.