ProAssurance (NYSE:PRA) Coverage Initiated at StockNews.com

StockNews.com assumed coverage on shares of ProAssurance (NYSE:PRA) in a report released on Wednesday. The brokerage set a “hold” rating on the insurance provider’s stock.

PRA has been the subject of a number of other reports. Citigroup cut shares of ProAssurance to a “market perform” rating in a research report on Thursday, April 3rd. Citizens Jmp downgraded ProAssurance from an “outperform” rating to a “market perform” rating in a report on Thursday, April 3rd. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $18.67.

ProAssurance Price Performance

Shares of NYSE PRA opened at $23.09 on Wednesday. The stock’s 50-day simple moving average is $17.54 and its 200-day simple moving average is $16.32. The firm has a market capitalization of $1.18 billion, a PE ratio of 27.82 and a beta of -0.09. ProAssurance has a fifty-two week low of $10.76 and a fifty-two week high of $23.43. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.28 and a current ratio of 0.28.

ProAssurance (NYSE:PRA) last released its quarterly earnings data on Monday, February 24th. The insurance provider reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.19. The company had revenue of $287.52 million for the quarter, compared to analysts’ expectations of $274.56 million. ProAssurance had a net margin of 3.71% and a return on equity of 2.65%. As a group, equities research analysts forecast that ProAssurance will post 0.8 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Sterling Capital Management LLC boosted its stake in shares of ProAssurance by 859.4% during the fourth quarter. Sterling Capital Management LLC now owns 1,631 shares of the insurance provider’s stock worth $26,000 after buying an additional 1,461 shares during the period. KBC Group NV lifted its position in ProAssurance by 75.4% during the 4th quarter. KBC Group NV now owns 4,184 shares of the insurance provider’s stock worth $67,000 after acquiring an additional 1,798 shares during the period. Aquatic Capital Management LLC grew its stake in shares of ProAssurance by 148.6% in the 4th quarter. Aquatic Capital Management LLC now owns 6,214 shares of the insurance provider’s stock valued at $99,000 after purchasing an additional 3,714 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of ProAssurance in the fourth quarter valued at approximately $150,000. Finally, Scotia Capital Inc. purchased a new stake in shares of ProAssurance during the fourth quarter worth approximately $173,000. 85.58% of the stock is currently owned by institutional investors and hedge funds.

About ProAssurance

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.