ProAssurance (NYSE:PRA) Rating Reiterated by JMP Securities

JMP Securities reissued their market outperform rating on shares of ProAssurance (NYSE:PRA) in a report published on Monday morning, Benzinga reports. JMP Securities currently has a $22.00 target price on the insurance provider’s stock.

Several other equities analysts have also commented on PRA. Piper Sandler reduced their target price on shares of ProAssurance from $16.00 to $15.00 and set an overweight rating on the stock in a report on Monday, March 4th. Truist Financial decreased their price objective on ProAssurance from $15.00 to $14.00 and set a hold rating on the stock in a report on Thursday, February 29th. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, ProAssurance presently has a consensus rating of Moderate Buy and a consensus price target of $17.00.

ProAssurance Trading Down 1.7 %

Shares of PRA stock opened at $13.03 on Monday. The business has a 50-day moving average price of $12.76 and a two-hundred day moving average price of $14.02. ProAssurance has a 12-month low of $11.76 and a 12-month high of $19.38. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.38. The firm has a market cap of $664.14 million, a P/E ratio of -17.61 and a beta of 0.24.

ProAssurance (NYSE:PRA) last released its earnings results on Tuesday, February 27th. The insurance provider reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.09). ProAssurance had a negative return on equity of 0.53% and a negative net margin of 3.39%. The firm had revenue of $296.96 million during the quarter, compared to the consensus estimate of $252.74 million. During the same quarter in the previous year, the firm earned $0.06 EPS. The business’s quarterly revenue was up .8% compared to the same quarter last year. Equities analysts anticipate that ProAssurance will post 0.26 EPS for the current fiscal year.

Institutional Investors Weigh In On ProAssurance

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Legal & General Group Plc grew its holdings in ProAssurance by 0.3% in the 2nd quarter. Legal & General Group Plc now owns 152,905 shares of the insurance provider’s stock worth $3,613,000 after acquiring an additional 514 shares during the last quarter. Great West Life Assurance Co. Can grew its stake in shares of ProAssurance by 1.3% in the first quarter. Great West Life Assurance Co. Can now owns 46,823 shares of the insurance provider’s stock worth $1,291,000 after purchasing an additional 591 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in ProAssurance by 3.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,901 shares of the insurance provider’s stock valued at $330,000 after purchasing an additional 650 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in ProAssurance by 2.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 36,544 shares of the insurance provider’s stock valued at $676,000 after purchasing an additional 699 shares during the period. Finally, Panagora Asset Management Inc. raised its position in ProAssurance by 1.7% during the 4th quarter. Panagora Asset Management Inc. now owns 45,790 shares of the insurance provider’s stock valued at $800,000 after purchasing an additional 778 shares during the last quarter. 85.58% of the stock is currently owned by institutional investors.

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.