ProAssurance Co. to Post Q3 2021 Earnings of $0.16 Per Share, Boenning Scattergood Forecasts (NYSE:PRA)

ProAssurance Co. (NYSE:PRA) – Stock analysts at Boenning Scattergood issued their Q3 2021 EPS estimates for shares of ProAssurance in a research report issued on Monday, September 20th. Boenning Scattergood analyst R. Farnam expects that the insurance provider will post earnings of $0.16 per share for the quarter. Boenning Scattergood also issued estimates for ProAssurance’s Q4 2021 earnings at $0.20 EPS, FY2021 earnings at $0.90 EPS, Q1 2022 earnings at $0.02 EPS, Q2 2022 earnings at $0.19 EPS, Q3 2022 earnings at $0.14 EPS, Q4 2022 earnings at $0.26 EPS and FY2022 earnings at $0.60 EPS.

ProAssurance (NYSE:PRA) last announced its earnings results on Thursday, August 5th. The insurance provider reported $0.49 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.43. ProAssurance had a negative net margin of 3.75% and a positive return on equity of 2.55%. The business had revenue of $258.87 million for the quarter, compared to analyst estimates of $239.89 million.

Separately, Piper Sandler upgraded ProAssurance from a “neutral” rating to an “overweight” rating and raised their target price for the company from $23.00 to $26.00 in a research report on Tuesday, August 10th. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $26.50.

PRA stock opened at $23.16 on Wednesday. ProAssurance has a 12-month low of $13.56 and a 12-month high of $29.15. The business’s 50-day moving average is $23.25 and its 200 day moving average is $24.54. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.32. The stock has a market cap of $1.25 billion, a price-to-earnings ratio of -34.57 and a beta of 0.34.

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 8th. Shareholders of record on Friday, September 24th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date is Thursday, September 23rd. ProAssurance’s dividend payout ratio (DPR) is -38.46%.

Several institutional investors have recently modified their holdings of the company. BlackRock Inc. increased its holdings in shares of ProAssurance by 0.8% in the second quarter. BlackRock Inc. now owns 7,906,759 shares of the insurance provider’s stock valued at $179,879,000 after purchasing an additional 59,221 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of ProAssurance by 1.7% in the 2nd quarter. Vanguard Group Inc. now owns 5,740,094 shares of the insurance provider’s stock worth $130,587,000 after acquiring an additional 94,475 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of ProAssurance by 3.3% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 3,137,930 shares of the insurance provider’s stock worth $71,388,000 after acquiring an additional 101,166 shares during the period. State Street Corp boosted its position in shares of ProAssurance by 3.0% during the 2nd quarter. State Street Corp now owns 1,809,068 shares of the insurance provider’s stock valued at $41,246,000 after acquiring an additional 51,854 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of ProAssurance by 0.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,711,694 shares of the insurance provider’s stock valued at $38,941,000 after purchasing an additional 5,252 shares during the period. Institutional investors and hedge funds own 83.42% of the company’s stock.

ProAssurance Company Profile

ProAssurance Corp. is a holding company. It operates through the following segments: Specialty Property and Casualty, Workers’ Compensation Insurance, Lloyd’s Syndicate, Segregated Portfolio Cell Reinsurance and Corporate. The Specialty Property and Casualty segment includes professional liability business and medical technology and life sciences business.

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Earnings History and Estimates for ProAssurance (NYSE:PRA)

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