ProAssurance (NYSE:PRA) Lowered to Hold Rating by Zacks Research

ProAssurance (NYSE:PRA) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of ProAssurance in a research note on Wednesday, October 8th. Six analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, ProAssurance has an average rating of “Reduce” and an average target price of $21.50.

ProAssurance Stock Performance

Shares of NYSE PRA opened at $23.99 on Wednesday. ProAssurance has a 12 month low of $13.00 and a 12 month high of $24.22. The company has a market cap of $1.23 billion, a P/E ratio of 25.52 and a beta of 0.11. The business’s 50 day moving average is $23.94 and its two-hundred day moving average is $23.58. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.33.

ProAssurance (NYSE:PRA) last announced its quarterly earnings data on Friday, May 20th. The insurance provider reported $0.04 earnings per share (EPS) for the quarter. The business had revenue of $220.02 million for the quarter. ProAssurance had a net margin of 4.33% and a return on equity of 5.62%. On average, equities analysts expect that ProAssurance will post 0.8 EPS for the current year.

Institutional Trading of ProAssurance

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. lifted its stake in ProAssurance by 356.2% during the second quarter. Russell Investments Group Ltd. now owns 1,405 shares of the insurance provider’s stock worth $32,000 after purchasing an additional 1,097 shares during the period. Quantbot Technologies LP bought a new position in shares of ProAssurance during the 1st quarter worth approximately $47,000. CWM LLC boosted its stake in ProAssurance by 95.9% in the 1st quarter. CWM LLC now owns 2,204 shares of the insurance provider’s stock valued at $51,000 after buying an additional 1,079 shares in the last quarter. Cornerstone Planning Group LLC grew its position in ProAssurance by 12,152.2% in the third quarter. Cornerstone Planning Group LLC now owns 2,818 shares of the insurance provider’s stock valued at $68,000 after acquiring an additional 2,795 shares during the period. Finally, GAMMA Investing LLC grew its position in ProAssurance by 50.7% in the second quarter. GAMMA Investing LLC now owns 3,123 shares of the insurance provider’s stock valued at $71,000 after acquiring an additional 1,050 shares during the period. Institutional investors 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.