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

Wall Street Zen upgraded shares of ProAssurance (NYSE:PRA) from a sell rating to a hold rating in a research report released on Saturday morning.

PRA has been the topic of a number of other research reports. Weiss Ratings restated a “hold (c)” rating on shares of ProAssurance in a research note on Thursday, January 22nd. Zacks Research upgraded ProAssurance from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 24th. One analyst has rated the stock with a Strong Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, ProAssurance presently has an average rating of “Moderate Buy” and an average price target of $25.00.

ProAssurance Stock Down 0.1%

Shares of PRA opened at $24.67 on Friday. ProAssurance has a 52 week low of $22.72 and a 52 week high of $24.85. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $1.27 billion, a price-to-earnings ratio of 25.17 and a beta of 0.04. The stock’s 50-day moving average price is $24.59 and its 200-day moving average price is $24.29.

ProAssurance (NYSE:PRA) last issued its earnings results on Monday, February 23rd. The insurance provider reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.60. ProAssurance had a return on equity of 6.50% and a net margin of 4.64%.The firm had revenue of $269.64 million for the quarter, compared to the consensus estimate of $261.08 million. During the same quarter in the prior year, the business earned $0.36 earnings per share. The company’s revenue was down 7.1% compared to the same quarter last year. On average, sell-side analysts predict that ProAssurance will post 1.08 EPS for the current year.

Hedge Funds Weigh In On ProAssurance

A number of hedge funds have recently bought and sold shares of the business. Magnetar Financial LLC boosted its position in ProAssurance by 15.1% during the fourth quarter. Magnetar Financial LLC now owns 3,484,563 shares of the insurance provider’s stock worth $84,187,000 after purchasing an additional 458,390 shares in the last quarter. Alliancebernstein L.P. boosted its position in 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 purchasing an additional 796,132 shares in the last quarter. Hsbc Holdings PLC boosted its position in ProAssurance by 50.3% during the first quarter. Hsbc Holdings PLC now owns 1,573,422 shares of the insurance provider’s stock worth $38,879,000 after purchasing an additional 526,262 shares in the last quarter. Qube Research & Technologies Ltd boosted its position in ProAssurance by 186.1% during the second quarter. Qube Research & Technologies Ltd now owns 1,491,060 shares of the insurance provider’s stock worth $34,041,000 after purchasing an additional 969,833 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in ProAssurance by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 1,199,244 shares of the insurance provider’s stock worth $28,978,000 after purchasing an additional 4,607 shares in the last quarter. 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.