ProAssurance (NYSE:PRA) Issues Earnings Results, Misses Estimates By $0.03 EPS

ProAssurance (NYSE:PRAGet Rating) issued its earnings results on Monday. The insurance provider reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.03), MarketWatch Earnings reports. The firm had revenue of $283.10 million for the quarter, compared to analyst estimates of $281.72 million. ProAssurance had a return on equity of 5.42% and a net margin of 12.82%. ProAssurance’s quarterly revenue was up 28.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.04 earnings per share.

NYSE:PRA opened at $24.36 on Tuesday. ProAssurance has a one year low of $20.00 and a one year high of $27.55. The company has a market cap of $1.32 billion, a P/E ratio of 9.16 and a beta of 0.40. The firm’s fifty day moving average price is $25.49 and its two-hundred day moving average price is $24.68. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.28 and a quick ratio of 0.28.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 7th. Shareholders of record on Thursday, March 24th were issued a $0.05 dividend. The ex-dividend date of this dividend was Wednesday, March 23rd. This represents a $0.20 annualized dividend and a dividend yield of 0.82%. ProAssurance’s dividend payout ratio is currently 7.52%.

A number of equities analysts recently weighed in on the stock. TheStreet upgraded shares of ProAssurance from a “c” rating to a “b-” rating in a report on Friday, February 18th. Zacks Investment Research upgraded shares of ProAssurance from a “hold” rating to a “buy” rating and set a $27.00 target price on the stock in a report on Friday, April 8th. Finally, StockNews.com assumed coverage on shares of ProAssurance in a report on Thursday, March 31st. They set a “hold” rating on the stock.

Large investors have recently added to or reduced their stakes in the business. Legal & General Group Plc increased its holdings in shares of ProAssurance by 2.8% in the fourth quarter. Legal & General Group Plc now owns 153,809 shares of the insurance provider’s stock valued at $3,892,000 after purchasing an additional 4,227 shares during the last quarter. California State Teachers Retirement System boosted its position in shares of ProAssurance by 2.6% in the fourth quarter. California State Teachers Retirement System now owns 75,019 shares of the insurance provider’s stock valued at $1,898,000 after acquiring an additional 1,889 shares during the period. Credit Suisse AG boosted its position in shares of ProAssurance by 4.9% in the fourth quarter. Credit Suisse AG now owns 71,918 shares of the insurance provider’s stock valued at $1,819,000 after acquiring an additional 3,367 shares during the period. Barclays PLC boosted its position in shares of ProAssurance by 38.3% in the fourth quarter. Barclays PLC now owns 70,227 shares of the insurance provider’s stock valued at $1,777,000 after acquiring an additional 19,463 shares during the period. Finally, Allianz Asset Management GmbH lifted its position in ProAssurance by 4.6% during the fourth quarter. Allianz Asset Management GmbH now owns 60,306 shares of the insurance provider’s stock worth $1,526,000 after purchasing an additional 2,657 shares during the period. Hedge funds and other institutional investors own 85.02% of the company’s stock.

ProAssurance Company Profile (Get Rating)

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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Earnings History for ProAssurance (NYSE:PRA)

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