Brokerages Set ProAssurance Co. (NYSE:PRA) Price Target at $41.00

ProAssurance Co. (NYSE:PRA) has been given an average recommendation of “Hold” by the six ratings firms that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price target among analysts that have covered the stock in the last year is $41.00.

Separately, ValuEngine upgraded shares of ProAssurance from a “hold” rating to a “buy” rating in a research report on Tuesday, August 20th.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Versant Capital Management Inc boosted its stake in ProAssurance by 43.4% during the second quarter. Versant Capital Management Inc now owns 879 shares of the insurance provider’s stock worth $31,000 after acquiring an additional 266 shares in the last quarter. Nomura Asset Management Co. Ltd. bought a new stake in ProAssurance during the second quarter worth about $33,000. Marshall Wace North America L.P. bought a new stake in ProAssurance during the first quarter worth about $42,000. Twin Tree Management LP bought a new stake in ProAssurance during the first quarter worth about $63,000. Finally, Point72 Asset Management L.P. bought a new stake in ProAssurance during the second quarter worth about $72,000. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Shares of PRA stock traded down $0.73 during mid-day trading on Thursday, reaching $39.54. The stock had a trading volume of 212,045 shares, compared to its average volume of 288,191. The stock’s 50-day moving average price is $39.37 and its two-hundred day moving average price is $37.81. ProAssurance has a 52-week low of $34.11 and a 52-week high of $48.28. The firm has a market capitalization of $2.17 billion, a PE ratio of 26.72 and a beta of 0.53. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.19.

ProAssurance (NYSE:PRA) last released its quarterly earnings data on Wednesday, August 7th. The insurance provider reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.04). ProAssurance had a net margin of 5.33% and a return on equity of 2.58%. The firm had revenue of $239.62 million during the quarter, compared to analysts’ expectations of $246.74 million. During the same quarter in the previous year, the firm posted $0.48 EPS. ProAssurance’s revenue was down 6.5% compared to the same quarter last year. On average, equities research analysts forecast that ProAssurance will post 0.43 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date of this dividend is Thursday, September 26th. ProAssurance’s payout ratio is 83.78%.

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, Segregated Portfolio Cell Reinsurance, and Lloyd's Syndicate segments.

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