ProAssurance (NYSE:PRA - Get Free Report)'s stock had its "hold (c)" rating reaffirmed by equities researchers at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.
Separately, Zacks Research upgraded shares of ProAssurance from a "hold" rating to a "strong-buy" rating in a research report on Monday, September 22nd. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $21.50.
Check Out Our Latest Stock Report on ProAssurance
ProAssurance Stock Performance
PRA opened at $24.14 on Wednesday. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.26 and a quick ratio of 0.26. The company has a 50 day simple moving average of $23.87 and a two-hundred day simple moving average of $23.46. ProAssurance has a 1-year low of $13.00 and a 1-year high of $24.22. The firm has a market cap of $1.24 billion, a P/E ratio of 25.68 and a beta of 0.12.
ProAssurance (NYSE:PRA - Get Free Report) last issued its earnings results on Tuesday, August 5th. The insurance provider reported $0.52 earnings per share for the quarter, topping analysts' consensus estimates of $0.19 by $0.33. ProAssurance had a net margin of 4.33% and a return on equity of 5.62%. The firm had revenue of $271.94 million during the quarter, compared to analyst estimates of $266.72 million. During the same quarter in the prior year, the business earned $0.23 earnings per share. ProAssurance's revenue for the quarter was down 19.9% on a year-over-year basis. Equities analysts forecast that ProAssurance will post 0.8 earnings per share for the current fiscal year.
Hedge Funds Weigh In On ProAssurance
Several institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC lifted its position in ProAssurance by 35.7% during the third quarter. GAMMA Investing LLC now owns 4,238 shares of the insurance provider's stock valued at $102,000 after purchasing an additional 1,115 shares during the last quarter. Squarepoint Ops LLC bought a new position in ProAssurance during the second quarter valued at $6,603,000. Hudson Bay Capital Management LP bought a new position in ProAssurance during the second quarter valued at $1,142,000. Nomura Holdings Inc. bought a new position in ProAssurance during the second quarter valued at $913,000. Finally, Public Sector Pension Investment Board lifted its position in ProAssurance by 7.8% during the second quarter. Public Sector Pension Investment Board now owns 174,897 shares of the insurance provider's stock valued at $3,993,000 after purchasing an additional 12,674 shares during the last quarter. Institutional investors own 85.58% of the company's stock.
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.
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