Equities analysts forecast that ProAssurance Co. (NYSE:PRA) will post sales of $231.23 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for ProAssurance’s earnings, with estimates ranging from $226.97 million to $237.10 million. ProAssurance reported sales of $211.98 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 9.1%. The company is scheduled to announce its next earnings report on Wednesday, February 20th.
On average, analysts expect that ProAssurance will report full-year sales of $926.91 million for the current financial year, with estimates ranging from $921.26 million to $930.87 million. For the next fiscal year, analysts forecast that the business will report sales of $931.73 million, with estimates ranging from $906.06 million to $954.43 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that cover ProAssurance.
ProAssurance (NYSE:PRA) last issued its quarterly earnings data on Tuesday, November 6th. The insurance provider reported $0.42 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.02. The business had revenue of $249.33 million during the quarter, compared to analyst estimates of $223.98 million. ProAssurance had a net margin of 9.70% and a return on equity of 6.28%. The company’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.45 EPS.
A number of analysts have recently weighed in on PRA shares. Zacks Investment Research raised shares of ProAssurance from a “sell” rating to a “hold” rating in a research report on Wednesday. SunTrust Banks reduced their target price on shares of ProAssurance to $45.00 and set a “hold” rating on the stock in a research report on Friday, December 14th. They noted that the move was a valuation call. Boenning Scattergood reaffirmed a “hold” rating on shares of ProAssurance in a research report on Thursday, November 15th. Finally, JMP Securities upped their target price on shares of ProAssurance from $50.00 to $52.00 and gave the stock a “market outperform” rating in a research report on Friday, September 21st. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $49.40.
Several large investors have recently added to or reduced their stakes in the company. BlackRock Inc. grew its position in ProAssurance by 31.3% during the 2nd quarter. BlackRock Inc. now owns 7,461,935 shares of the insurance provider’s stock valued at $264,525,000 after purchasing an additional 1,777,372 shares during the last quarter. Rehmann Capital Advisory Group grew its position in ProAssurance by 4,590.9% during the 3rd quarter. Rehmann Capital Advisory Group now owns 1,731,983 shares of the insurance provider’s stock valued at $36,889,000 after purchasing an additional 1,695,061 shares during the last quarter. American Century Companies Inc. grew its position in ProAssurance by 73.9% during the 3rd quarter. American Century Companies Inc. now owns 1,986,432 shares of the insurance provider’s stock valued at $93,263,000 after purchasing an additional 844,419 shares during the last quarter. Clearbridge Investments LLC grew its position in ProAssurance by 1,238,071.9% during the 3rd quarter. Clearbridge Investments LLC now owns 396,215 shares of the insurance provider’s stock valued at $18,602,000 after purchasing an additional 396,183 shares during the last quarter. Finally, Northern Trust Corp grew its position in ProAssurance by 59.7% during the 2nd quarter. Northern Trust Corp now owns 922,004 shares of the insurance provider’s stock valued at $32,685,000 after purchasing an additional 344,585 shares during the last quarter. 84.24% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE:PRA traded up $0.17 during midday trading on Friday, reaching $41.05. The company’s stock had a trading volume of 203,570 shares, compared to its average volume of 235,688. The company has a market capitalization of $2.18 billion, a PE ratio of 20.32 and a beta of 0.66. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.35 and a quick ratio of 0.35. ProAssurance has a 12-month low of $34.95 and a 12-month high of $56.19.
The firm also recently announced a special dividend, which was paid on Wednesday, January 9th. Stockholders of record on Friday, December 21st were given a $0.50 dividend. This represents a dividend yield of 2.88%. The ex-dividend date was Thursday, December 20th. ProAssurance’s dividend payout ratio is presently 61.39%.
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, and Lloyd's Syndicate segments. It offers 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 for employers, groups, and associations.
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