ProAssurance (NYSE:PRA) Earns Hold Rating from Analysts at StockNews.com

Equities research analysts at StockNews.com started coverage on shares of ProAssurance (NYSE:PRA) in a research report issued on Saturday. The brokerage set a “hold” rating on the insurance provider’s stock.

A number of other equities analysts have also weighed in on PRA. Citizens Jmp lowered shares of ProAssurance from an “outperform” rating to a “market perform” rating in a research report on Thursday, April 3rd. Citigroup lowered ProAssurance to a “market perform” rating in a research report on Thursday, April 3rd. Finally, Raymond James lowered ProAssurance from a “market perform” rating to an “underperform” rating in a research note on Thursday, April 10th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $18.67.

ProAssurance Stock Performance

PRA stock opened at $23.01 on Friday. The company has a market cap of $1.18 billion, a P/E ratio of 27.72 and a beta of -0.09. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.28 and a quick ratio of 0.28. ProAssurance has a 1 year low of $10.76 and a 1 year high of $23.70. The stock’s fifty day moving average price is $20.74 and its 200-day moving average price is $17.40.

ProAssurance (NYSE:PRA) last issued its quarterly earnings results on Monday, February 24th. The insurance provider reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.19. ProAssurance had a net margin of 3.71% and a return on equity of 2.65%. The business had revenue of $287.52 million for the quarter, compared to analysts’ expectations of $274.56 million. On average, equities analysts forecast that ProAssurance will post 0.8 earnings per share for the current year.

Institutional Investors Weigh In On ProAssurance

A number of large investors have recently modified their holdings of PRA. Dimensional Fund Advisors LP lifted its holdings in shares of ProAssurance by 4.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,703,953 shares of the insurance provider’s stock worth $43,019,000 after purchasing an additional 123,232 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in ProAssurance by 0.4% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,316,249 shares of the insurance provider’s stock valued at $20,678,000 after acquiring an additional 4,814 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in shares of ProAssurance by 92.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 690,871 shares of the insurance provider’s stock valued at $10,992,000 after acquiring an additional 331,224 shares during the last quarter. Janus Henderson Group PLC increased its stake in shares of ProAssurance by 2,655.2% in the fourth quarter. Janus Henderson Group PLC now owns 645,358 shares of the insurance provider’s stock worth $10,268,000 after acquiring an additional 621,935 shares during the period. Finally, Northern Trust Corp lifted its position in ProAssurance by 3.1% during the fourth quarter. Northern Trust Corp now owns 559,694 shares of the insurance provider’s stock valued at $8,905,000 after purchasing an additional 16,983 shares during the period. Hedge funds and other institutional investors own 85.58% of the company’s stock.

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.