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

ProAssurance Corporation (NYSE:PRA) has earned a consensus rating of “Hold” from the six ratings firms that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a strong buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $25.00.

A number of research firms recently issued reports on PRA. Zacks Research raised ProAssurance from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 24th. Wall Street Zen upgraded ProAssurance from a “sell” rating to a “hold” rating in a research note on Saturday. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of ProAssurance in a research report on Thursday, January 22nd.

ProAssurance Stock Performance

Shares of PRA stock opened at $24.57 on Thursday. ProAssurance has a 12 month low of $14.49 and a 12 month high of $24.69. The company’s fifty day simple moving average is $24.26 and its 200-day simple moving average is $24.07. The firm has a market cap of $1.26 billion, a PE ratio of 25.07 and a beta of 0.09. 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 (NYSE:PRA) last issued its quarterly earnings results on Monday, February 23rd. The insurance provider reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.60. ProAssurance had a net margin of 4.64% and a return on equity of 6.50%. The firm had revenue of $269.64 million for the quarter, compared to analyst estimates of $261.08 million. During the same period in the previous year, the business earned $0.36 EPS. The company’s revenue was down 7.1% compared to the same quarter last year. Equities research analysts expect that ProAssurance will post 0.8 EPS for the current fiscal year.

Institutional Trading of ProAssurance

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