ProAssurance Corporation (NYSE:PRA) Receives Average Recommendation of “Reduce” from Analysts

Shares of ProAssurance Corporation (NYSE:PRA) have been assigned an average recommendation of “Reduce” from the six research firms that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating and five have given a hold rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $25.00.

A number of brokerages have weighed in on PRA. Zacks Research lowered shares of ProAssurance from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 5th. Weiss Ratings reissued a “hold (c)” rating on shares of ProAssurance in a report on Wednesday, October 8th.

ProAssurance Stock Performance

NYSE PRA opened at $24.00 on Tuesday. The firm has a 50-day moving average price of $23.97 and a two-hundred day moving average price of $23.63. ProAssurance has a 12-month low of $13.00 and a 12-month high of $24.22. The company has a market capitalization of $1.23 billion, a P/E ratio of 25.53 and a beta of 0.11. 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 for the quarter. The firm had revenue of $220.02 million during the quarter. ProAssurance had a return on equity of 5.62% and a net margin of 4.33%. Analysts anticipate that ProAssurance will post 0.8 earnings per share for the current year.

Institutional Trading of ProAssurance

Hedge funds and other institutional investors have recently made changes to their positions in the company. CWM LLC raised its holdings 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 during the last quarter. Victory Capital Management Inc. acquired a new position in ProAssurance in the 1st quarter valued at approximately $209,000. Wakefield Asset Management LLLP raised its stake in shares of ProAssurance by 8.3% during the first quarter. Wakefield Asset Management LLLP now owns 70,519 shares of the insurance provider’s stock valued at $1,647,000 after acquiring an additional 5,387 shares during the last quarter. Skandinaviska Enskilda Banken AB publ acquired a new position in shares of ProAssurance during the first quarter worth $224,000. Finally, XTX Topco Ltd bought a new stake in shares of ProAssurance in the first quarter worth $319,000. 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.