ProAssurance (NYSE:PRA) Now Covered by StockNews.com

StockNews.com assumed coverage on shares of ProAssurance (NYSE:PRA) in a report published on Sunday. The firm issued a hold rating on the insurance provider’s stock.

PRA has been the topic of several other research reports. Raymond James downgraded ProAssurance from a “market perform” rating to an “underperform” rating in a report on Thursday, April 10th. Piper Sandler increased their price target on ProAssurance from $18.00 to $25.00 and gave the company a “neutral” rating in a research note on Thursday. Citigroup downgraded ProAssurance to a “market perform” rating in a research note on Thursday, April 3rd. Finally, Citizens Jmp downgraded ProAssurance from an “outperform” rating to a “market perform” rating in a research note on Thursday, April 3rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat, ProAssurance has an average rating of “Hold” and a consensus target price of $21.00.

ProAssurance Stock Down 0.0%

NYSE:PRA opened at $22.90 on Friday. The stock’s fifty day moving average price is $21.46 and its two-hundred day moving average price is $17.69. ProAssurance has a 52-week low of $10.76 and a 52-week high of $23.70. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.28 and a current ratio of 0.28. The company has a market cap of $1.17 billion, a price-to-earnings ratio of 27.59 and a beta of 0.04.

ProAssurance (NYSE:PRA) last posted its quarterly earnings data 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). ProAssurance had a return on equity of 2.65% and a net margin of 3.71%. The firm had revenue of $236.28 million for the quarter, compared to analyst estimates of $272.85 million. During the same period in the prior year, the company posted $0.08 EPS. The firm’s quarterly revenue was down 4.5% compared to the same quarter last year. On average, analysts anticipate that ProAssurance will post 0.8 EPS for the current year.

Institutional Trading of ProAssurance

Several hedge funds have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP raised its stake in ProAssurance by 4.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,703,953 shares of the insurance provider’s stock worth $43,019,000 after buying an additional 123,232 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in ProAssurance by 0.4% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,316,249 shares of the insurance provider’s stock worth $20,678,000 after purchasing an additional 4,814 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in ProAssurance by 92.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 690,871 shares of the insurance provider’s stock worth $10,992,000 after purchasing an additional 331,224 shares in the last quarter. Janus Henderson Group PLC increased its holdings in ProAssurance by 2,655.2% during the 4th quarter. Janus Henderson Group PLC now owns 645,358 shares of the insurance provider’s stock worth $10,268,000 after purchasing an additional 621,935 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in ProAssurance by 3.1% during the 4th quarter. Northern Trust Corp now owns 559,694 shares of the insurance provider’s stock worth $8,905,000 after purchasing an additional 16,983 shares in the last quarter. Institutional investors and hedge funds own 85.58% of the company’s stock.

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.