ProAssurance (NYSE:PRA) Stock Passes Above 200-Day Moving Average – Time to Sell?

ProAssurance Corporation (NYSE:PRA) shares passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $23.93 and traded as high as $24.24. ProAssurance shares last traded at $24.2050, with a volume of 533,718 shares changing hands.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Zacks Research downgraded shares of ProAssurance from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 5th. Weiss Ratings reissued a “hold (c)” rating on shares of ProAssurance in a research note on Wednesday, October 8th. Finally, Wall Street Zen upgraded ProAssurance to a “sell” rating in a research report on Saturday, November 22nd. Five research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and an average price target of $25.00.

ProAssurance Trading Up 0.2%

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 business has a 50-day simple moving average of $24.06 and a 200-day simple moving average of $23.93. The company has a market cap of $1.24 billion, a PE ratio of 37.24 and a beta of 0.09.

ProAssurance (NYSE:PRA) last issued its quarterly earnings data on Tuesday, November 4th. The insurance provider reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.13). ProAssurance had a net margin of 3.01% and a return on equity of 4.78%. The firm had revenue of $279.55 million during the quarter, compared to analyst estimates of $268.71 million. During the same period in the previous year, the firm posted $0.34 earnings per share. The company’s quarterly revenue was down 2.0% compared to the same quarter last year. On average, analysts predict that ProAssurance Corporation will post 0.8 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in PRA. Qube Research & Technologies Ltd increased its stake in ProAssurance by 186.1% during the 2nd quarter. Qube Research & Technologies Ltd now owns 1,491,060 shares of the insurance provider’s stock worth $34,041,000 after buying an additional 969,833 shares during the period. Hsbc Holdings PLC grew its stake in shares of ProAssurance by 1,310.1% in the second quarter. Hsbc Holdings PLC now owns 939,428 shares of the insurance provider’s stock worth $21,433,000 after acquiring an additional 872,808 shares in the last quarter. Alliancebernstein L.P. increased its position in shares of ProAssurance by 41.6% during the third quarter. Alliancebernstein L.P. now owns 2,711,805 shares of the insurance provider’s stock worth $65,056,000 after acquiring an additional 796,132 shares during the period. Man Group plc acquired a new stake in shares of ProAssurance in the third quarter valued at $17,058,000. Finally, Magnetar Financial LLC boosted its holdings in ProAssurance by 27.6% in the second quarter. Magnetar Financial LLC now owns 2,956,808 shares of the insurance provider’s stock valued at $67,504,000 after purchasing an additional 638,992 shares during the period. Hedge funds and other institutional investors own 85.58% of the company’s stock.

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.