News stories about ProAssurance Corporation (NYSE:PRA) have been trending somewhat positive on Wednesday, according to Accern Sentiment Analysis. The research group identifies positive and negative media coverage by analyzing more than 20 million blog and news sources in real-time. Accern ranks coverage of public companies on a scale of negative one to one, with scores closest to one being the most favorable. ProAssurance Corporation earned a daily sentiment score of 0.12 on Accern’s scale. Accern also gave news stories about the insurance provider an impact score of 45.8811203084353 out of 100, indicating that recent media coverage is somewhat unlikely to have an effect on the stock’s share price in the near term.
Here are some of the news stories that may have effected Accern Sentiment Analysis’s rankings:
- $213.50 Million in Sales Expected for ProAssurance Corporation (PRA) This Quarter (americanbankingnews.com)
- ProAssurance Corporation Announces Dates for Third Quarter 2017 Earnings Release and Conference Call (finance.yahoo.com)
- ProAssurance Corporation (PRA) Receives Consensus Rating of “Hold” from Analysts (americanbankingnews.com)
- ProAssurance Corp. breached its 50 day moving average in a Bullish Manner : PRA-US : October 4, 2017 (finance.yahoo.com)
- ProAssurance Corp. – Value Analysis (NYSE:PRA) : October 5, 2017 (finance.yahoo.com)
A number of research analysts have weighed in on PRA shares. BidaskClub upgraded ProAssurance Corporation from a “sell” rating to a “hold” rating in a report on Friday, June 16th. Zacks Investment Research upgraded ProAssurance Corporation from a “hold” rating to a “buy” rating and set a $69.00 price objective on the stock in a report on Wednesday, July 5th. Keefe, Bruyette & Woods started coverage on ProAssurance Corporation in a report on Monday, July 17th. They issued a “market perform” rating and a $61.00 price objective on the stock. Boenning Scattergood restated a “hold” rating on shares of ProAssurance Corporation in a report on Tuesday, August 1st. Finally, Buckingham Research started coverage on ProAssurance Corporation in a report on Monday, September 11th. They issued a “neutral” rating and a $54.00 price objective on the stock. Two research analysts have rated the stock with a sell rating and four have issued a hold rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $61.00.
ProAssurance Corporation (PRA) opened at 55.50 on Wednesday. The stock has a market cap of $2.96 billion, a price-to-earnings ratio of 19.83 and a beta of 0.54. ProAssurance Corporation has a one year low of $50.50 and a one year high of $63.53. The firm has a 50-day moving average price of $53.97 and a 200-day moving average price of $58.19.
ProAssurance Corporation (NYSE:PRA) last posted its earnings results on Monday, August 7th. The insurance provider reported $0.40 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.01. The company had revenue of $205.58 million for the quarter, compared to analyst estimates of $207.14 million. ProAssurance Corporation had a return on equity of 6.59% and a net margin of 16.80%. ProAssurance Corporation’s revenue was down 4.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.67 earnings per share. On average, equities analysts predict that ProAssurance Corporation will post $2.11 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 10th. Stockholders of record on Friday, September 29th were given a $0.31 dividend. The ex-dividend date was Thursday, September 28th. This represents a $1.24 annualized dividend and a dividend yield of 2.23%. ProAssurance Corporation’s dividend payout ratio is currently 44.60%.
In related news, insider Howard H. Friedman acquired 2,000 shares of ProAssurance Corporation stock in a transaction dated Wednesday, August 9th. The shares were acquired at an average cost of $55.00 per share, for a total transaction of $110,000.00. Following the completion of the transaction, the insider now directly owns 259,573 shares of the company’s stock, valued at $14,276,515. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Neil Frank B. O acquired 2,500 shares of ProAssurance Corporation stock in a transaction dated Friday, August 18th. The stock was bought at an average price of $54.50 per share, for a total transaction of $136,250.00. Following the completion of the transaction, the insider now directly owns 104,431 shares of the company’s stock, valued at $5,691,489.50. The disclosure for this purchase can be found here. Insiders bought 7,000 shares of company stock worth $383,125 over the last 90 days. Company insiders own 1.80% of the company’s stock.
About ProAssurance Corporation
ProAssurance Corporation (ProAssurance) is a holding company for property and casualty insurance companies. The Company provides professional liability insurance for healthcare professionals and facilities, professional liability insurance for attorneys, liability insurance for medical technology and life sciences risks, and workers’ compensation insurance.
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