Brokerages expect ProAssurance (NYSE:PRA) to report earnings of $0.41 per share for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for ProAssurance’s earnings. The lowest EPS estimate is $0.38 and the highest is $0.45. ProAssurance posted earnings of $0.40 per share in the same quarter last year, which would indicate a positive year over year growth rate of 2.5%. The firm is expected to issue its next quarterly earnings results on Monday, August 6th.
On average, analysts expect that ProAssurance will report full year earnings of $1.77 per share for the current fiscal year, with EPS estimates ranging from $1.65 to $1.95. For the next year, analysts expect that the company will report earnings of $1.72 per share, with EPS estimates ranging from $1.60 to $1.90. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that cover ProAssurance.
ProAssurance (NYSE:PRA) last posted its quarterly earnings data on Thursday, May 3rd. The insurance provider reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.04). ProAssurance had a return on equity of 5.64% and a net margin of 9.20%. The business had revenue of $201.03 million for the quarter, compared to analyst estimates of $219.42 million. During the same period in the prior year, the firm posted $0.62 EPS. ProAssurance’s revenue for the quarter was down 9.9% on a year-over-year basis.
Several research firms recently weighed in on PRA. Boenning Scattergood reissued a “hold” rating on shares of ProAssurance in a research report on Friday, May 4th. ValuEngine cut ProAssurance from a “hold” rating to a “sell” rating in a research report on Wednesday, May 2nd. Keefe, Bruyette & Woods set a $52.00 price objective on ProAssurance and gave the stock a “hold” rating in a research report on Tuesday, April 10th. Sandler O’Neill reissued a “hold” rating and set a $50.00 price objective on shares of ProAssurance in a research report on Friday, April 6th. Finally, SunTrust Banks cut ProAssurance from a “buy” rating to a “hold” rating in a research report on Wednesday, April 4th. Three research analysts have rated the stock with a sell rating and six have given a hold rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $54.75.
In other news, insider Howard H. Friedman purchased 2,000 shares of the business’s stock in a transaction on Monday, May 7th. The stock was purchased at an average price of $40.75 per share, with a total value of $81,500.00. Following the acquisition, the insider now directly owns 273,153 shares in the company, valued at approximately $11,130,984.75. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 1.80% of the company’s stock.
Institutional investors have recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in ProAssurance by 50.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,109 shares of the insurance provider’s stock valued at $178,000 after acquiring an additional 1,042 shares in the last quarter. Everence Capital Management Inc. bought a new stake in shares of ProAssurance in the 4th quarter valued at approximately $202,000. Koch Industries Inc. bought a new stake in shares of ProAssurance in the 1st quarter valued at approximately $208,000. Larson Financial Group LLC bought a new stake in shares of ProAssurance in the 4th quarter valued at approximately $223,000. Finally, Wolverine Trading LLC bought a new stake in shares of ProAssurance in the 4th quarter valued at approximately $247,000. 81.52% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE PRA traded down $0.05 during trading hours on Monday, hitting $40.15. 298,568 shares of the company’s stock were exchanged, compared to its average volume of 410,007. ProAssurance has a 1-year low of $39.50 and a 1-year high of $63.45. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.39 and a current ratio of 0.39. The stock has a market capitalization of $2.15 billion, a PE ratio of 19.88 and a beta of 0.56.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 10th. Shareholders of record on Friday, June 22nd will be issued a $0.31 dividend. The ex-dividend date is Thursday, June 21st. This represents a $1.24 annualized dividend and a yield of 3.09%. ProAssurance’s dividend payout ratio (DPR) is 61.39%.
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, 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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