ProAssurance Corporation (NYSE:PRA - Get Free Report) shares reached a new 52-week high on Monday . The company traded as high as $23.95 and last traded at $23.86, with a volume of 116192 shares. The stock had previously closed at $23.85.
Wall Street Analyst Weigh In
PRA has been the topic of several research reports. Wall Street Zen began coverage on shares of ProAssurance in a research note on Monday, May 19th. They issued a "hold" rating on the stock. Piper Sandler lifted their target price on ProAssurance from $18.00 to $25.00 and gave the company a "neutral" rating in a research report on Thursday, May 8th. Raymond James Financial cut ProAssurance from a "market perform" rating to an "underperform" rating in a report on Thursday, April 10th. Citizens Jmp cut ProAssurance from an "outperform" rating to a "market perform" rating in a research report on Thursday, April 3rd. Finally, Citigroup downgraded ProAssurance to a "market perform" rating in a research report on Thursday, April 3rd. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $21.50.
Check Out Our Latest Report on PRA
ProAssurance Trading Up 0.1%
The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $1.22 billion, a PE ratio of 29.13 and a beta of 0.12. The stock has a 50 day moving average price of $23.21 and a 200-day moving average price of $20.13.
ProAssurance (NYSE:PRA - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The insurance provider reported $0.13 earnings per share (EPS) 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 company had revenue of $236.28 million during the quarter, compared to analysts' expectations of $272.85 million. During the same period in the prior year, the business posted $0.08 EPS. The company's quarterly revenue was down 4.5% on a year-over-year basis. Sell-side analysts expect that ProAssurance Corporation will post 0.8 earnings per share for the current year.
Institutional Investors Weigh In On ProAssurance
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Sterling Capital Management LLC grew its holdings in shares of 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 purchasing an additional 1,461 shares in the last quarter. Quantbot Technologies LP bought a new position in shares of ProAssurance during the 1st quarter valued at $47,000. GAMMA Investing LLC raised its holdings in ProAssurance by 307.3% during the first quarter. GAMMA Investing LLC now owns 2,073 shares of the insurance provider's stock valued at $48,000 after acquiring an additional 1,564 shares during the period. CWM LLC increased its holdings in shares of ProAssurance by 95.9% in the first quarter. CWM LLC now owns 2,204 shares of the insurance provider's stock worth $51,000 after purchasing an additional 1,079 shares during the last quarter. Finally, Longfellow Investment Management Co. LLC purchased a new position in ProAssurance in the first quarter worth about $75,000. 85.58% of the stock is owned by institutional investors and hedge funds.
ProAssurance Company Profile
(
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.
Further Reading
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