ProAssurance (NYSE:PRA) Earns Hold Rating from Analysts at StockNews.com

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

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

ProAssurance Stock Performance

NYSE:PRA opened at $23.20 on Monday. The company has a market cap of $1.19 billion, a price-to-earnings ratio of 27.95 and a beta of 0.04. ProAssurance has a fifty-two week low of $10.76 and a fifty-two week high of $23.70. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.28 and a current ratio of 0.28. The stock has a fifty day moving average price of $22.70 and a 200-day moving average price of $18.10.

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

Hedge Funds Weigh In On ProAssurance

A number of institutional investors have recently added to or reduced their stakes in PRA. Acadian Asset Management LLC acquired a new stake in ProAssurance in the first quarter valued at approximately $237,000. Jane Street Group LLC lifted its stake in shares of ProAssurance by 70.0% in the 1st quarter. Jane Street Group LLC now owns 72,944 shares of the insurance provider’s stock valued at $1,703,000 after acquiring an additional 30,028 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of ProAssurance by 2.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 161,334 shares of the insurance provider’s stock valued at $3,767,000 after acquiring an additional 3,357 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of ProAssurance by 47.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 511,759 shares of the insurance provider’s stock valued at $11,950,000 after acquiring an additional 165,024 shares in the last quarter. Finally, Jones Financial Companies Lllp bought a new stake in ProAssurance during the 1st quarter worth $600,000. 85.58% of the stock is currently owned by institutional investors and hedge funds.

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.