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

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

Other analysts have also recently issued reports about the stock. Raymond James cut shares of ProAssurance from a “market perform” rating to an “underperform” rating in a research note on Thursday, April 10th. Citizens Jmp downgraded 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 report on Thursday, April 3rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $18.67.

ProAssurance Price Performance

Shares of NYSE:PRA opened at $23.16 on Thursday. The business has a fifty day simple moving average of $19.04 and a 200-day simple moving average of $16.83. ProAssurance has a 52 week low of $10.76 and a 52 week high of $23.70. The company has a market cap of $1.18 billion, a P/E ratio of 27.90 and a beta of -0.09. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.35.

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

Institutional Trading of ProAssurance

Several large investors have recently added to or reduced their stakes in PRA. Sterling Capital Management LLC boosted its holdings in ProAssurance by 859.4% in the 4th quarter. Sterling Capital Management LLC now owns 1,631 shares of the insurance provider’s stock worth $26,000 after acquiring an additional 1,461 shares during the period. GAMMA Investing LLC lifted its position in shares of ProAssurance by 307.3% during the first quarter. GAMMA Investing LLC now owns 2,073 shares of the insurance provider’s stock worth $48,000 after purchasing an additional 1,564 shares during the last quarter. KBC Group NV grew its position in shares of ProAssurance by 75.4% in 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 in the last quarter. Aquatic Capital Management LLC increased its stake in ProAssurance by 148.6% during the fourth 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. Finally, First Citizens Bank & Trust Co. acquired a new stake in ProAssurance during the first quarter worth about $205,000. 85.58% of the stock is currently owned by institutional investors and hedge funds.

ProAssurance Company Profile

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.