ProAssurance Corporation (NYSE:PRA) Expected to Announce Earnings of $0.49 Per Share
Wall Street analysts forecast that ProAssurance Corporation (NYSE:PRA) will report earnings per share of $0.49 for the current quarter, according to Zacks. Three analysts have made estimates for ProAssurance Corporation’s earnings. The highest EPS estimate is $0.53 and the lowest is $0.44. ProAssurance Corporation reported earnings per share of $0.46 in the same quarter last year, which suggests a positive year over year growth rate of 6.5%. The company is expected to announce its next earnings report on Wednesday, November 1st.
According to Zacks, analysts expect that ProAssurance Corporation will report full-year earnings of $2.13 per share for the current year, with EPS estimates ranging from $2.11 to $2.14. For the next fiscal year, analysts expect that the firm will post earnings of $2.23 per share, with EPS estimates ranging from $1.95 to $2.55. Zacks’ EPS averages are an average based on a survey of analysts that cover ProAssurance Corporation.
ProAssurance Corporation (NYSE:PRA) last announced its earnings results on Monday, August 7th. The insurance provider reported $0.40 EPS for the quarter, topping the consensus estimate of $0.39 by $0.01. The business had revenue of $205.58 million for the quarter, compared to the consensus estimate of $207.14 million. ProAssurance Corporation had a return on equity of 6.59% and a net margin of 16.80%. ProAssurance Corporation’s revenue was down 4.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.67 EPS.
A number of brokerages recently issued reports on PRA. BidaskClub cut shares of ProAssurance Corporation from a “hold” rating to a “sell” rating in a research note on Saturday, June 24th. Zacks Investment Research cut shares of ProAssurance Corporation from a “buy” rating to a “hold” rating in a research note on Monday, May 29th. Boenning Scattergood reissued a “neutral” rating on shares of ProAssurance Corporation in a research note on Monday, April 17th. Finally, Keefe, Bruyette & Woods began coverage on shares of ProAssurance Corporation in a research note on Monday, July 17th. They issued a “market perform” rating and a $61.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating and three have given a hold rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $63.33.
Shares of ProAssurance Corporation (NYSE:PRA) traded up 0.27% on Thursday, hitting $55.50. The stock had a trading volume of 31,980 shares. ProAssurance Corporation has a 12-month low of $50.50 and a 12-month high of $63.53. The firm has a market capitalization of $2.96 billion, a P/E ratio of 19.83 and a beta of 0.51. The company has a 50 day moving average of $60.14 and a 200-day moving average of $59.26.
The business also recently announced a quarterly dividend, which was paid on Wednesday, July 12th. Shareholders of record on Tuesday, June 27th were given a $0.31 dividend. The ex-dividend date of this dividend was Friday, June 23rd. This represents a $1.24 dividend on an annualized basis and a yield of 2.24%. ProAssurance Corporation’s dividend payout ratio is currently 44.60%.
In other ProAssurance Corporation news, insider Jeffrey Patton Lisenby sold 4,829 shares of the firm’s stock in a transaction that occurred on Wednesday, July 5th. The shares were sold at an average price of $61.60, for a total value of $297,466.40. Following the sale, the insider now owns 50,836 shares in the company, valued at $3,131,497.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Edward Lewis Rand, Jr. sold 3,155 shares of the firm’s stock in a transaction that occurred on Monday, June 26th. The shares were sold at an average price of $60.11, for a total transaction of $189,647.05. Following the completion of the sale, the insider now owns 120,014 shares in the company, valued at approximately $7,214,041.54. The disclosure for this sale can be found here. Insiders sold 28,000 shares of company stock worth $1,703,438 in the last 90 days. Company insiders own 1.80% of the company’s stock.
A number of hedge funds have recently modified their holdings of PRA. Miles Capital Inc. raised its stake in shares of ProAssurance Corporation by 0.3% in the first quarter. Miles Capital Inc. now owns 3,681 shares of the insurance provider’s stock worth $222,000 after buying an additional 10 shares in the last quarter. Assetmark Inc. raised its stake in shares of ProAssurance Corporation by 1.1% in the first quarter. Assetmark Inc. now owns 1,779 shares of the insurance provider’s stock worth $107,000 after buying an additional 20 shares in the last quarter. Teacher Retirement System of Texas raised its stake in shares of ProAssurance Corporation by 0.7% in the second quarter. Teacher Retirement System of Texas now owns 4,243 shares of the insurance provider’s stock worth $258,000 after buying an additional 30 shares in the last quarter. M&T Bank Corp raised its stake in shares of ProAssurance Corporation by 0.5% in the first quarter. M&T Bank Corp now owns 8,760 shares of the insurance provider’s stock worth $528,000 after buying an additional 40 shares in the last quarter. Finally, Bridgeworth LLC raised its stake in shares of ProAssurance Corporation by 1.3% in the first quarter. Bridgeworth LLC now owns 5,978 shares of the insurance provider’s stock worth $359,000 after buying an additional 75 shares in the last quarter. Hedge funds and other institutional investors own 81.67% of the company’s stock.
ProAssurance Corporation Company Profile
ProAssurance Corporation (ProAssurance) is a holding company for property and casualty insurance companies. The Company provides professional liability insurance for healthcare professionals and facilities, professional liability insurance for attorneys, liability insurance for medical technology and life sciences risks, and workers’ compensation insurance.
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