ProAssurance Corporation (NYSE:PRA) Receives $21.50 Consensus PT from Analysts

Shares of ProAssurance Corporation (NYSE:PRA) have been assigned a consensus recommendation of “Reduce” from the five ratings firms that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation and four have assigned a hold recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $21.50.

A number of equities research analysts have weighed in on PRA shares. Wall Street Zen began coverage on shares of ProAssurance in a report on Monday, May 19th. They set a “hold” rating on the stock. Piper Sandler lifted their price target on shares of ProAssurance from $18.00 to $25.00 and gave the stock a “neutral” rating in a report on Thursday, May 8th.

ProAssurance Price Performance

Shares of PRA opened at $24.04 on Friday. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.33. The stock has a market cap of $1.24 billion, a PE ratio of 25.57 and a beta of 0.13. ProAssurance has a 12-month low of $12.43 and a 12-month high of $24.05. The business has a 50-day simple moving average of $23.45 and a two-hundred day simple moving average of $21.13.

ProAssurance (NYSE:PRA) last released its quarterly earnings results on Tuesday, August 5th. The insurance provider reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.33. The company had revenue of $271.94 million for the quarter, compared to analysts’ expectations of $266.72 million. ProAssurance had a return on equity of 5.62% and a net margin of 4.33%. The business’s quarterly revenue was down 19.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.23 earnings per share. Analysts anticipate that ProAssurance will post 0.8 earnings per share for the current fiscal year.

Institutional Trading of ProAssurance

Institutional investors have recently added to or reduced their stakes in the stock. Sterling Capital Management LLC raised its holdings in ProAssurance by 859.4% during the 4th quarter. Sterling Capital Management LLC now owns 1,631 shares of the insurance provider’s stock worth $26,000 after purchasing an additional 1,461 shares during the last quarter. Quantbot Technologies LP bought a new stake in shares of ProAssurance in the 1st quarter valued at $47,000. GAMMA Investing LLC increased 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 buying an additional 1,564 shares during the period. CWM LLC increased 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 buying an additional 1,079 shares during the period. Finally, Longfellow Investment Management Co. LLC bought a new position in ProAssurance during the first quarter worth $75,000. 85.58% of the stock is currently owned by institutional investors.

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.