ProAssurance Corporation (NYSE:PRA) Given Average Recommendation of “Reduce” by Analysts

Shares of ProAssurance Corporation (NYSE:PRA) have been assigned a consensus recommendation of “Reduce” from the six analysts that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $25.00.

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

ProAssurance Stock Up 0.4%

Shares of PRA stock opened at $24.58 on Thursday. The company has a quick ratio of 0.28, a current ratio of 0.27 and a debt-to-equity ratio of 0.31. ProAssurance has a 52 week low of $14.49 and a 52 week high of $24.69. The company’s fifty day simple moving average is $24.25 and its two-hundred day simple moving average is $24.06. The stock has a market cap of $1.26 billion, a P/E ratio of 25.08 and a beta of 0.09.

ProAssurance (NYSE:PRA) last released its earnings results on Monday, February 23rd. The insurance provider reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.60. ProAssurance had a return on equity of 6.50% and a net margin of 4.64%.The business had revenue of $269.64 million during the quarter, compared to the consensus estimate of $261.08 million. During the same period last year, the company earned $0.36 earnings per share. The business’s revenue for the quarter was down 7.1% compared to the same quarter last year. Analysts predict that ProAssurance will post 0.8 EPS for the current fiscal year.

Institutional Trading of ProAssurance

Large investors have recently made changes to their positions in the company. Russell Investments Group Ltd. increased its stake in shares of ProAssurance by 356.2% in the second quarter. Russell Investments Group Ltd. now owns 1,405 shares of the insurance provider’s stock valued at $32,000 after purchasing an additional 1,097 shares during the period. Cornerstone Planning Group LLC raised its position in ProAssurance by 12,152.2% in the third quarter. Cornerstone Planning Group LLC now owns 2,818 shares of the insurance provider’s stock worth $68,000 after acquiring an additional 2,795 shares in the last quarter. GAMMA Investing LLC boosted its holdings in ProAssurance by 35.7% during the third quarter. GAMMA Investing LLC now owns 4,238 shares of the insurance provider’s stock worth $102,000 after buying an additional 1,115 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of ProAssurance by 271.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,576 shares of the insurance provider’s stock worth $127,000 after acquiring an additional 4,074 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its stake in ProAssurance by 22.8% in the 2nd quarter. BNP Paribas Financial Markets now owns 5,679 shares of the insurance provider’s stock worth $130,000 after purchasing an additional 1,056 shares in the last quarter. 85.58% of the stock is owned by institutional investors and hedge funds.

About ProAssurance

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.