ProAssurance (NYSE:PRA) Stock Price Crosses Above Two Hundred Day Moving Average - Here's Why

Key Points

• ProAssurance's stock climbed above its 200-day moving average of $24.23, trading as high as $24.60 and last at $24.5840 on volume of about 1.42 million shares.
• The company reported a strong quarter, posting EPS of $0.82 versus a $0.22 consensus (a $0.60 beat) and revenue of $269.6M versus $261.1M expected, though quarterly revenue was down 7.1% year‑over‑year.
• Analyst views are mixed—one Strong Buy, two Holds—with a MarketBeat average rating of "Moderate Buy" and an average target price of $25.00, while institutional investors own roughly 85.6% of the stock.

ProAssurance Corporation (NYSE:PRA - Get Free Report)'s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $24.23 and traded as high as $24.60. ProAssurance shares last traded at $24.5840, with a volume of 1,417,777 shares traded.

Analyst Ratings Changes

Several equities analysts have weighed in on PRA shares. Wall Street Zen lowered ProAssurance from a "hold" rating to a "sell" rating in a report on Saturday, April 4th. Zacks Research raised ProAssurance from a "hold" rating to a "strong-buy" rating in a report on Tuesday, February 24th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of ProAssurance in a research note on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $25.00.

ProAssurance Trading Up 0.8%

The company's fifty day moving average is $24.53 and its 200-day moving average is $24.23. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $1.27 billion, a P/E ratio of 25.09 and a beta of 0.02.

ProAssurance (NYSE:PRA - Get Free Report) last announced its earnings results on Monday, February 23rd. The insurance provider reported $0.82 EPS for the quarter, topping the consensus estimate of $0.22 by $0.60. The firm had revenue of $269.64 million for the quarter, compared to the consensus estimate of $261.08 million. ProAssurance had a net margin of 4.64% and a return on equity of 6.50%. The business's quarterly revenue was down 7.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.36 EPS. As a group, sell-side analysts anticipate that ProAssurance Corporation will post 0.8 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ProAssurance

A number of institutional investors have recently made changes to their positions in the business. Russell Investments Group Ltd. boosted its stake in ProAssurance by 356.2% during 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 during the period. Cornerstone Planning Group LLC increased its position in ProAssurance by 12,152.2% in the 3rd quarter. Cornerstone Planning Group LLC now owns 2,818 shares of the insurance provider's stock worth $68,000 after buying an additional 2,795 shares during the period. GAMMA Investing LLC increased its position in ProAssurance by 35.7% in the 3rd quarter. GAMMA Investing LLC now owns 4,238 shares of the insurance provider's stock worth $102,000 after buying an additional 1,115 shares during the period. Tower Research Capital LLC TRC lifted its holdings in shares of ProAssurance by 271.2% during the second quarter. Tower Research Capital LLC TRC now owns 5,576 shares of the insurance provider's stock worth $127,000 after buying an additional 4,074 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its holdings in shares of ProAssurance by 22.8% during the second quarter. BNP Paribas Financial Markets now owns 5,679 shares of the insurance provider's stock worth $130,000 after buying an additional 1,056 shares during the last quarter. 85.58% of the stock is currently owned by institutional investors.

ProAssurance Company Profile

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.

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