ProAssurance Corporation (NYSE:PRA) Receives $25.00 Consensus PT from Brokerages

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

A number of equities research analysts recently weighed in on PRA shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of ProAssurance in a research report on Thursday, January 22nd. Wall Street Zen upgraded 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 report on Wednesday, November 5th.

ProAssurance Stock Performance

PRA stock opened at $24.37 on Friday. The stock’s 50 day simple moving average is $24.14 and its 200 day simple moving average is $24.00. ProAssurance has a 12-month low of $13.90 and a 12-month high of $24.62. The firm has a market cap of $1.25 billion, a P/E ratio of 37.49 and a beta of 0.09. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.32.

Institutional Investors Weigh In On ProAssurance

Hedge funds have recently added to or reduced their stakes in the stock. AQR Capital Management LLC grew 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 acquiring an additional 38,756 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in ProAssurance by 4.5% during 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 period. Millennium Management LLC grew its position in ProAssurance by 181.5% in the 1st quarter. Millennium Management LLC now owns 306,540 shares of the insurance provider’s stock worth $7,158,000 after purchasing an additional 197,663 shares during the last quarter. Jones Financial Companies Lllp bought a new position in ProAssurance in the 1st quarter worth about $600,000. Finally, Goldman Sachs Group Inc. increased its stake in shares of ProAssurance by 47.6% in the first quarter. Goldman Sachs Group Inc. now owns 511,759 shares of the insurance provider’s stock valued at $11,950,000 after purchasing an additional 165,024 shares during the period. 85.58% of the stock is currently owned by institutional investors.

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.