ProAssurance (NYSE:PRA) Announces Earnings Results

ProAssurance (NYSE:PRA) released its quarterly earnings data on Monday. The insurance provider reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.04, Briefing.com reports. The firm had revenue of $284.97 million for the quarter, compared to analyst estimates of $233.62 million. ProAssurance had a negative net margin of 3.39% and a negative return on equity of 0.53%. The business’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.15) earnings per share.

ProAssurance Price Performance

Shares of PRA stock opened at $14.72 on Thursday. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.27 and a quick ratio of 0.27. The firm’s 50-day moving average is $12.94 and its two-hundred day moving average is $13.52. ProAssurance has a 12 month low of $11.76 and a 12 month high of $19.38. The company has a market capitalization of $750.26 million, a PE ratio of -19.89 and a beta of 0.21.

Analyst Ratings Changes

PRA has been the topic of several analyst reports. JMP Securities restated a “market outperform” rating and set a $22.00 price target on shares of ProAssurance in a research report on Monday, April 15th. Truist Financial raised their price target on shares of ProAssurance from $14.00 to $16.00 and gave the company a “hold” rating in a research report on Wednesday. Finally, Piper Sandler dropped their price target on shares of ProAssurance from $16.00 to $15.00 and set an “overweight” rating on the stock in a research report on Monday, March 4th. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $17.67.

About ProAssurance

ProAssurance Corporation, through its subsidiaries, provides property and casualty insurance, and reinsurance products in the United States. The company operates through Specialty Property and Casualty, Workers' Compensation Insurance, and Segregated Portfolio Cell Reinsurance segments. It offers professional liability insurance to healthcare providers and institutions, and attorneys and their firms; medical technology liability insurance to medical technology and life sciences companies; and custom alternative risk solutions, including assumed reinsurance, loss portfolio transfers, and captive cell programs for healthcare professional liability insureds.