ProAssurance (NYSE:PRA) Announces Earnings Results

ProAssurance (NYSE:PRA) posted its quarterly earnings results on Monday. The insurance provider reported $0.08 EPS for the quarter, topping the consensus estimate of $0.04 by $0.04, Briefing.com reports. ProAssurance had a negative net margin of 3.39% and a negative return on equity of 0.53%. The firm had revenue of $284.97 million for the quarter, compared to the consensus estimate of $233.62 million. During the same period last year, the firm posted ($0.15) earnings per share. The business’s revenue was up 4.5% compared to the same quarter last year.

ProAssurance Stock Down 0.1 %

Shares of NYSE:PRA opened at $13.82 on Tuesday. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.38. The company has a 50-day moving average price of $12.85 and a 200-day moving average price of $13.53. ProAssurance has a 12 month low of $11.76 and a 12 month high of $19.38.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on PRA shares. JMP Securities reiterated a “market outperform” rating and issued a $22.00 target price on shares of ProAssurance in a research report on Monday, April 15th. Truist Financial lowered their target price on ProAssurance from $15.00 to $14.00 and set a “hold” rating for the company in a research note on Thursday, February 29th. Finally, Piper Sandler decreased their price target on ProAssurance from $16.00 to $15.00 and set an “overweight” rating on the stock in a research note on Monday, March 4th. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $17.00.

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.