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

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

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

Institutional Investors Weigh In On ProAssurance

Several large investors have recently bought and sold shares of PRA. Cubist Systematic Strategies LLC purchased a new position in shares of ProAssurance in the first quarter valued at approximately $909,000. AQR Capital Management LLC increased its position in shares of ProAssurance by 40.4% during the first quarter. AQR Capital Management LLC now owns 134,641 shares of the insurance provider’s stock worth $3,144,000 after purchasing an additional 38,756 shares in the last quarter. Alliancebernstein L.P. raised its stake in ProAssurance by 2,035.6% in the 1st quarter. Alliancebernstein L.P. now owns 1,516,479 shares of the insurance provider’s stock valued at $35,410,000 after purchasing an additional 1,445,469 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in ProAssurance by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,293 shares of the insurance provider’s stock valued at $707,000 after purchasing an additional 1,302 shares during the last quarter. Finally, Millennium Management LLC lifted its holdings in ProAssurance by 181.5% in the 1st quarter. Millennium Management LLC now owns 306,540 shares of the insurance provider’s stock valued at $7,158,000 after purchasing an additional 197,663 shares in the last quarter. 85.58% of the stock is currently owned by hedge funds and other institutional investors.

ProAssurance Trading Down 0.2%

PRA stock opened at $24.05 on Wednesday. ProAssurance has a 52-week low of $13.90 and a 52-week high of $24.41. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.32. The firm has a market cap of $1.24 billion, a P/E ratio of 36.99 and a beta of 0.09. The company’s 50-day simple moving average is $24.05 and its 200-day simple moving average is $23.88.

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

ProAssurance Company Profile

ProAssurance Corporation is a specialty property and casualty insurance holding company headquartered in Birmingham, Alabama. The company focuses primarily on professional liability coverage for healthcare providers, including physicians, surgeons, dentists and allied health professionals. ProAssurance operates through a group of insurance subsidiaries that underwrite both occurrence- and claims-made policies tailored to the unique risks faced by the medical community.

In addition to professional liability insurance, ProAssurance offers a suite of complementary property and casualty products, such as general liability, workers’ compensation, property and inland marine, and umbrella coverage.