ProAssurance (NYSE:PRA) Coverage Initiated at StockNews.com

StockNews.com started coverage on shares of ProAssurance (NYSE:PRA) in a report issued on Sunday morning. The firm issued a hold rating on the insurance provider’s stock.

Other analysts have also recently issued research reports about the stock. Piper Sandler raised their target price on shares of ProAssurance from $18.00 to $25.00 and gave the stock a “neutral” rating in a research note on Thursday, May 8th. Raymond James cut shares of ProAssurance from a “market perform” rating to an “underperform” rating in a research note on Thursday, April 10th. Citigroup cut shares of ProAssurance to a “market perform” rating in a research note on Thursday, April 3rd. Finally, Citizens Jmp cut shares of ProAssurance from an “outperform” rating to a “market perform” rating in a research note on Thursday, April 3rd. One analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $21.00.

ProAssurance Stock Performance

Shares of PRA stock opened at $23.00 on Friday. The company has a fifty day moving average price of $21.76 and a two-hundred day moving average price of $17.78. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.28 and a quick ratio of 0.28. The stock has a market cap of $1.18 billion, a P/E ratio of 27.71 and a beta of 0.04. ProAssurance has a one year low of $10.76 and a one year high of $23.70.

ProAssurance (NYSE:PRA) last posted its earnings results on Tuesday, May 6th. The insurance provider reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.06). The company had revenue of $236.28 million for the quarter, compared to analyst estimates of $272.85 million. ProAssurance had a return on equity of 2.65% and a net margin of 3.71%. The business’s quarterly revenue was down 4.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.08 EPS. As a group, equities analysts predict that ProAssurance will post 0.8 EPS for the current year.

Institutional Trading of ProAssurance

Several hedge funds and other institutional investors have recently bought and sold shares of PRA. Janus Henderson Group PLC raised its stake in ProAssurance by 2,655.2% in the 4th quarter. Janus Henderson Group PLC now owns 645,358 shares of the insurance provider’s stock worth $10,268,000 after purchasing an additional 621,935 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in ProAssurance by 92.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 690,871 shares of the insurance provider’s stock worth $10,992,000 after purchasing an additional 331,224 shares in the last quarter. ABC Arbitrage SA acquired a new stake in ProAssurance in the 1st quarter worth about $5,573,000. Alpine Associates Management Inc. acquired a new stake in ProAssurance in the 1st quarter worth about $5,167,000. Finally, Tudor Investment Corp ET AL acquired a new stake in ProAssurance in the 4th quarter worth about $2,466,000. Institutional investors and hedge funds own 85.58% of the company’s stock.

ProAssurance Company Profile

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.