Shares of ProAssurance Corporation (NYSE:PRA) have been assigned a consensus rating of “Hold” from the six research firms that are currently covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell recommendation and four have issued a hold recommendation on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $58.00.

Several brokerages have issued reports on PRA. Boenning Scattergood restated a “hold” rating on shares of ProAssurance Corporation in a report on Tuesday, August 1st. BidaskClub downgraded ProAssurance Corporation from a “sell” rating to a “strong sell” rating in a report on Monday, July 31st. Keefe, Bruyette & Woods assumed coverage on ProAssurance Corporation in a report on Monday, July 17th. They set a “market perform” rating and a $61.00 price objective for the company. Zacks Investment Research downgraded ProAssurance Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd. Finally, Buckingham Research assumed coverage on ProAssurance Corporation in a report on Monday, September 11th. They set a “neutral” rating and a $54.00 price objective for the company.

Shares of ProAssurance Corporation (NYSE PRA) traded up $3.30 during trading on Tuesday, hitting $60.75. The company’s stock had a trading volume of 474,461 shares, compared to its average volume of 101,038. ProAssurance Corporation has a 12 month low of $50.50 and a 12 month high of $63.53. The company has a market capitalization of $3,057.92, a P/E ratio of 24.78 and a beta of 0.54. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.23.

ProAssurance Corporation (NYSE:PRA) last announced its quarterly earnings results on Monday, November 6th. The insurance provider reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.09. ProAssurance Corporation had a return on equity of 6.59% and a net margin of 16.80%. The company had revenue of $228.50 million during the quarter, compared to the consensus estimate of $215.12 million. During the same period in the prior year, the company earned $0.46 earnings per share. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. equities research analysts expect that ProAssurance Corporation will post 2 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 10th. Investors of record on Friday, September 29th were issued a dividend of $0.31 per share. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.04%. ProAssurance Corporation’s payout ratio is presently 44.60%.

In other news, insider Howard H. Friedman acquired 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 9th. The stock was acquired at an average cost of $55.00 per share, for a total transaction of $110,000.00. Following the completion of the acquisition, the insider now owns 259,573 shares in the company, valued at $14,276,515. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Neil Frank B. O acquired 2,500 shares of the firm’s stock in a transaction that occurred on Friday, August 11th. The shares were purchased at an average price of $54.75 per share, with a total value of $136,875.00. Following the completion of the acquisition, the insider now owns 101,931 shares of the company’s stock, valued at approximately $5,580,722.25. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 7,000 shares of company stock valued at $383,125. 1.80% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in ProAssurance Corporation by 8.4% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,067 shares of the insurance provider’s stock valued at $126,000 after purchasing an additional 161 shares during the last quarter. First Quadrant L P CA boosted its position in ProAssurance Corporation by 124.1% during the second quarter. First Quadrant L P CA now owns 2,465 shares of the insurance provider’s stock valued at $150,000 after purchasing an additional 1,365 shares during the last quarter. Flinton Capital Management LLC boosted its position in ProAssurance Corporation by 55.3% during the second quarter. Flinton Capital Management LLC now owns 2,560 shares of the insurance provider’s stock valued at $156,000 after purchasing an additional 912 shares during the last quarter. Riverhead Capital Management LLC boosted its position in ProAssurance Corporation by 60.8% during the second quarter. Riverhead Capital Management LLC now owns 2,895 shares of the insurance provider’s stock valued at $176,000 after purchasing an additional 1,095 shares during the last quarter. Finally, Pacad Investment Ltd. boosted its position in ProAssurance Corporation by 47.6% during the second quarter. Pacad Investment Ltd. now owns 3,100 shares of the insurance provider’s stock valued at $188,000 after purchasing an additional 1,000 shares during the last quarter. 80.32% of the stock is owned by hedge funds and other institutional investors.

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About ProAssurance Corporation

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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