ProAssurance Corporation (NYSE:PRA) Receives Consensus Rating of “Reduce” from Brokerages

ProAssurance Corporation (NYSE:PRA) has been assigned a consensus rating of “Reduce” from the six brokerages that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation and five have assigned a hold recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $25.00.

PRA has been the subject of several analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of ProAssurance in a report on Wednesday, October 8th. Wall Street Zen upgraded shares of ProAssurance to a “sell” rating in a research report on Saturday, November 22nd. Finally, Zacks Research cut shares of ProAssurance from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 5th.

Institutional Investors Weigh In On ProAssurance

Several large investors have recently added to or reduced their stakes in PRA. Cantor Fitzgerald L. P. bought a new position in shares of ProAssurance during the 3rd quarter worth approximately $921,000. Morningstar Investment Management LLC bought a new position in shares of ProAssurance in the third quarter valued at approximately $1,586,000. Dark Forest Capital Management LP increased its position in shares of ProAssurance by 75.7% during the third quarter. Dark Forest Capital Management LP now owns 26,966 shares of the insurance provider’s stock valued at $647,000 after acquiring an additional 11,616 shares during the last quarter. Prelude Capital Management LLC lifted its holdings in ProAssurance by 75.1% during the third quarter. Prelude Capital Management LLC now owns 173,758 shares of the insurance provider’s stock worth $4,168,000 after acquiring an additional 74,513 shares during the period. Finally, Millennium Management LLC lifted its holdings in ProAssurance by 19.0% during the third quarter. Millennium Management LLC now owns 717,795 shares of the insurance provider’s stock worth $17,220,000 after acquiring an additional 114,625 shares during the period. Institutional investors and hedge funds own 85.58% of the company’s stock.

ProAssurance Stock Performance

NYSE PRA opened at $24.26 on Friday. The firm has a market capitalization of $1.25 billion, a P/E ratio of 37.32 and a beta of 0.11. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.32. The firm’s fifty day moving average price is $24.03 and its two-hundred day moving average price is $23.75. ProAssurance has a 1 year low of $13.90 and a 1 year high of $24.41.

ProAssurance (NYSE:PRA) last released its quarterly earnings data on Friday, May 20th. The insurance provider reported $0.04 earnings per share (EPS) for the quarter. The firm had revenue of $220.02 million for the quarter. ProAssurance had a return on equity of 4.78% and a net margin of 3.01%. As a group, research analysts anticipate that ProAssurance will post 0.8 EPS for the current year.

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.