ProAssurance Co. (NYSE:PRA) Receives Consensus Recommendation of “Hold” from Brokerages

ProAssurance Co. (NYSE:PRA) has been assigned an average recommendation of “Hold” from the six analysts that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, four have given a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $18.67.

A number of research analysts have issued reports on the stock. Citizens Jmp lowered shares of ProAssurance from an “outperform” rating to a “market perform” rating in a research note on Thursday, April 3rd. StockNews.com assumed coverage on ProAssurance in a report on Friday, April 25th. They issued a “hold” rating for the company. Citigroup downgraded ProAssurance to a “market perform” rating in a research note on Thursday, April 3rd. Finally, Raymond James cut ProAssurance from a “market perform” rating to an “underperform” rating in a research note on Thursday, April 10th.

Institutional Investors Weigh In On ProAssurance

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Barclays PLC increased its position in shares of ProAssurance by 307.5% during the 3rd quarter. Barclays PLC now owns 85,117 shares of the insurance provider’s stock valued at $1,280,000 after purchasing an additional 64,228 shares during the period. JPMorgan Chase & Co. boosted its stake in ProAssurance by 34.8% during the third quarter. JPMorgan Chase & Co. now owns 253,175 shares of the insurance provider’s stock valued at $3,808,000 after buying an additional 65,325 shares in the last quarter. KBC Group NV grew its holdings in ProAssurance by 75.4% during the fourth quarter. KBC Group NV now owns 4,184 shares of the insurance provider’s stock worth $67,000 after acquiring an additional 1,798 shares during the period. Savant Capital LLC grew its holdings in ProAssurance by 49.6% during the fourth quarter. Savant Capital LLC now owns 45,240 shares of the insurance provider’s stock worth $720,000 after acquiring an additional 14,991 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its position in ProAssurance by 0.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,316,249 shares of the insurance provider’s stock worth $20,678,000 after acquiring an additional 4,814 shares in the last quarter. Institutional investors own 85.58% of the company’s stock.

ProAssurance Trading Down 0.8 %

Shares of NYSE PRA opened at $23.04 on Friday. ProAssurance has a 12-month low of $10.76 and a 12-month high of $23.70. The company has a market cap of $1.18 billion, a price-to-earnings ratio of 27.75 and a beta of -0.09. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.35. The stock’s 50 day simple moving average is $20.60 and its 200 day simple moving average is $17.35.

ProAssurance (NYSE:PRA) last posted its earnings results on Monday, February 24th. The insurance provider reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.19. The company had revenue of $287.52 million for the quarter, compared to analysts’ expectations of $274.56 million. ProAssurance had a return on equity of 2.65% and a net margin of 3.71%. Equities research analysts expect that ProAssurance will post 0.8 EPS for the current year.

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.