ProAssurance Corporation (NYSE:PRA - Get Free Report)'s share price reached a new 52-week high on Wednesday . The stock traded as high as $23.81 and last traded at $23.70, with a volume of 1055848 shares trading hands. The stock had previously closed at $23.66.
Wall Street Analyst Weigh In
Several research analysts have recently commented on PRA shares. Wall Street Zen started coverage on shares of ProAssurance in a research note on Monday, May 19th. They set a "hold" rating on the stock. Raymond James Financial lowered shares of ProAssurance from a "market perform" rating to an "underperform" rating in a research note on Thursday, April 10th. Citigroup lowered shares of ProAssurance to a "market perform" rating in a research note on Thursday, April 3rd. Citizens Jmp lowered shares of ProAssurance from an "outperform" rating to a "market perform" rating in a research note on Thursday, April 3rd. Finally, Piper Sandler raised their target price on shares of ProAssurance from $18.00 to $25.00 and gave the company a "neutral" rating in a research note on Thursday, May 8th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $21.00.
Check Out Our Latest Research Report on PRA
ProAssurance Stock Up 0.3%
The business's fifty day moving average price is $23.08 and its 200 day moving average price is $19.66. The company has a market capitalization of $1.22 billion, a P/E ratio of 29.03 and a beta of 0.12. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.34.
ProAssurance (NYSE:PRA - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The insurance provider reported $0.13 EPS for the quarter, missing analysts' consensus estimates of $0.19 by ($0.06). The business had revenue of $236.28 million for the quarter, compared to the consensus estimate of $272.85 million. ProAssurance had a return on equity of 4.51% and a net margin of 3.72%. ProAssurance's revenue was down 4.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.08 earnings per share. As a group, equities research analysts predict that ProAssurance Corporation will post 0.8 earnings per share for the current fiscal year.
Institutional Investors Weigh In On ProAssurance
A number of hedge funds have recently made changes to their positions in the company. Wealthfront Advisers LLC acquired a new stake in ProAssurance in the 4th quarter valued at about $359,000. Deutsche Bank AG increased its position in ProAssurance by 50.1% in the 4th quarter. Deutsche Bank AG now owns 47,679 shares of the insurance provider's stock valued at $759,000 after acquiring an additional 15,921 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in ProAssurance by 10.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 157,977 shares of the insurance provider's stock valued at $2,513,000 after acquiring an additional 15,542 shares in the last quarter. GAMMA Investing LLC grew its position in shares of ProAssurance by 9,409.8% during the 1st quarter. GAMMA Investing LLC now owns 48,405 shares of the insurance provider's stock worth $1,130,000 after buying an additional 47,896 shares during the period. Finally, Amundi grew its position in shares of ProAssurance by 182.3% during the 4th quarter. Amundi now owns 25,634 shares of the insurance provider's stock worth $389,000 after buying an additional 16,552 shares during the period. Institutional investors and hedge funds own 85.58% of the company's stock.
ProAssurance Company Profile
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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.
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