ProAssurance (NYSE:PRA) Upgraded by Wall Street Zen to Hold Rating

ProAssurance (NYSE:PRA) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Saturday.

Several other analysts also recently commented on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of ProAssurance in a research report on Thursday, January 22nd. Zacks Research upgraded shares of ProAssurance from a “hold” rating to a “strong-buy” rating in a report on Tuesday. One analyst has rated the stock with a Strong Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $25.00.

ProAssurance Trading Up 0.0%

ProAssurance stock opened at $24.57 on Friday. The stock has a market cap of $1.26 billion, a P/E ratio of 25.07 and a beta of 0.09. ProAssurance has a 12 month low of $14.49 and a 12 month high of $24.69. The company has a quick ratio of 0.28, a current ratio of 0.27 and a debt-to-equity ratio of 0.31. The company’s fifty day simple moving average is $24.26 and its 200-day simple moving average is $24.07.

ProAssurance (NYSE:PRA) last issued its earnings results on Monday, February 23rd. The insurance provider reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.60. The firm had revenue of $269.64 million for the quarter, compared to the consensus estimate of $261.08 million. ProAssurance had a return on equity of 6.50% and a net margin of 4.64%.The business’s quarterly revenue was down 7.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.36 earnings per share. As a group, sell-side analysts forecast that ProAssurance will post 0.8 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of PRA. Alpine Associates Management Inc. increased its position in shares of ProAssurance by 73.6% during the 3rd quarter. Alpine Associates Management Inc. now owns 952,547 shares of the insurance provider’s stock worth $22,852,000 after purchasing an additional 403,807 shares in the last quarter. Wolverine Asset Management LLC increased its holdings in ProAssurance by 158.7% during the 3rd quarter. Wolverine Asset Management LLC now owns 84,790 shares of the insurance provider’s stock valued at $2,034,000 after purchasing an additional 52,012 shares in the last quarter. Gardner Lewis Asset Management L P bought a new position in ProAssurance in the 3rd quarter valued at $7,007,000. Olympiad Research LP boosted its stake in ProAssurance by 79.1% in the second quarter. Olympiad Research LP now owns 85,874 shares of the insurance provider’s stock worth $1,961,000 after purchasing an additional 37,936 shares in the last quarter. Finally, Mint Tower Capital Management B.V. grew its holdings in shares of ProAssurance by 1,750.0% during the second quarter. Mint Tower Capital Management B.V. now owns 37,000 shares of the insurance provider’s stock worth $845,000 after purchasing an additional 35,000 shares during the last quarter. 85.58% of the stock is owned by institutional investors.

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.