StockNews.com assumed coverage on shares of ProAssurance (NYSE:PRA - Free Report) in a research report report published on Sunday morning. The brokerage issued a hold rating on the insurance provider's stock.
PRA has been the subject of several other reports. Piper Sandler increased their price target on ProAssurance from $18.00 to $25.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. Citizens Jmp downgraded ProAssurance from an "outperform" rating to a "market perform" rating in a report on Thursday, April 3rd. Citigroup downgraded ProAssurance to a "market perform" rating in a report on Thursday, April 3rd. Finally, Raymond James downgraded ProAssurance from a "market perform" rating to an "underperform" rating in a report on Thursday, April 10th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $21.00.
Read Our Latest Analysis on PRA
ProAssurance Trading Up 0.4%
Shares of PRA traded up $0.10 during trading hours on Friday, hitting $23.09. The stock had a trading volume of 132,818 shares, compared to its average volume of 440,615. 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 has a market cap of $1.18 billion, a P/E ratio of 27.81 and a beta of 0.04. The company's fifty day simple moving average is $21.91 and its 200 day simple moving average is $17.82. ProAssurance has a 12-month low of $10.76 and a 12-month high of $23.70.
ProAssurance (NYSE:PRA - Get Free Report) last issued its earnings results on Tuesday, May 6th. The insurance provider reported $0.13 earnings per share 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 business posted $0.08 earnings per share. The company's quarterly revenue was down 4.5% compared to the same quarter last year. Equities research analysts forecast that ProAssurance will post 0.8 EPS for the current fiscal year.
Institutional Trading of ProAssurance
Several large investors have recently modified their holdings of PRA. Magnetar Financial LLC acquired a new stake in shares of ProAssurance during the first quarter valued at about $54,121,000. Janus Henderson Group PLC grew its stake in shares of ProAssurance by 2,655.2% during the fourth quarter. Janus Henderson Group PLC now owns 645,358 shares of the insurance provider's stock valued at $10,268,000 after acquiring an additional 621,935 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of ProAssurance by 92.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 690,871 shares of the insurance provider's stock worth $10,992,000 after purchasing an additional 331,224 shares during the last quarter. Westchester Capital Management LLC acquired a new position in ProAssurance in the first quarter worth about $5,575,000. Finally, ABC Arbitrage SA acquired a new position in ProAssurance in the first quarter worth about $5,573,000. 85.58% of the stock is currently owned by institutional investors and hedge funds.
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.
See Also
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 Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
