ProAssurance Corporation (NYSE:PRA) Given Average Recommendation of “Hold” by Brokerages

Shares of ProAssurance Corporation (NYSE:PRA) have received an average recommendation of “Hold” from the six analysts that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is $21.00.

Several analysts recently issued reports on the stock. Citigroup cut shares of ProAssurance to a “market perform” rating in a report on Thursday, April 3rd. Raymond James Financial cut shares of ProAssurance from a “market perform” rating to an “underperform” rating in a report on Thursday, April 10th. Piper Sandler upped their price target on shares of ProAssurance from $18.00 to $25.00 and gave the company a “neutral” rating in a report on Thursday, May 8th. Wall Street Zen assumed coverage on shares of ProAssurance in a report on Monday, May 19th. They issued a “hold” rating on the stock. Finally, Citizens Jmp cut shares of ProAssurance from an “outperform” rating to a “market perform” rating in a report on Thursday, April 3rd.

ProAssurance Trading Down 0.1%

NYSE PRA opened at $23.78 on Wednesday. The company’s fifty day simple moving average is $23.16 and its 200-day simple moving average is $19.93. ProAssurance has a 52 week low of $11.17 and a 52 week high of $23.93. 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 cap of $1.21 billion, a P/E ratio of 29.00 and a beta of 0.12.

ProAssurance (NYSE:PRA) last posted its quarterly earnings results on Tuesday, May 6th. The insurance provider reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.06). The company had revenue of $236.28 million during the quarter, compared to analyst estimates of $272.85 million. ProAssurance had a net margin of 3.72% and a return on equity of 4.51%. The company’s revenue was down 4.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.08 earnings per share. Equities research analysts predict that ProAssurance will post 0.8 EPS for the current fiscal year.

Institutional Trading of ProAssurance

Institutional investors have recently added to or reduced their stakes in the business. Sterling Capital Management LLC increased its stake in ProAssurance by 859.4% during the fourth quarter. Sterling Capital Management LLC now owns 1,631 shares of the insurance provider’s stock valued at $26,000 after purchasing an additional 1,461 shares during the last quarter. Quantbot Technologies LP bought a new position in shares of ProAssurance during the first quarter worth about $47,000. GAMMA Investing LLC grew 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 acquiring an additional 1,564 shares during the last quarter. CWM LLC grew its position in shares of ProAssurance by 95.9% during the first quarter. CWM LLC now owns 2,204 shares of the insurance provider’s stock worth $51,000 after acquiring an additional 1,079 shares during the last quarter. Finally, Longfellow Investment Management Co. LLC bought a new position in shares of ProAssurance during the first quarter worth about $75,000. Institutional investors own 85.58% of the company’s stock.

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.