ProAssurance Corporation (NYSE:PRA) Given Average Recommendation of “Reduce” by Analysts

Shares of ProAssurance Corporation (NYSE:PRA) have been assigned a consensus rating of “Reduce” from the six ratings firms that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation and five have issued a hold recommendation on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $25.00.

A number of analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of ProAssurance to a “sell” rating in a research note on Saturday, November 22nd. Zacks Research cut shares of ProAssurance from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 5th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of ProAssurance in a research report on Wednesday, October 8th.

ProAssurance Stock Performance

PRA opened at $24.09 on Friday. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.32. ProAssurance has a 12-month low of $13.90 and a 12-month high of $24.41. The business has a 50 day moving average of $24.04 and a 200-day moving average of $23.78. The stock has a market cap of $1.24 billion, a price-to-earnings ratio of 37.06 and a beta of 0.11.

ProAssurance (NYSE:PRA) last posted its quarterly earnings results on Friday, May 20th. The insurance provider reported $0.04 earnings per share for the quarter. ProAssurance had a return on equity of 4.78% and a net margin of 3.01%.The business had revenue of $220.02 million for the quarter. On average, equities research analysts expect that ProAssurance will post 0.8 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. lifted its holdings in shares of ProAssurance by 356.2% during the second quarter. Russell Investments Group Ltd. now owns 1,405 shares of the insurance provider’s stock worth $32,000 after buying an additional 1,097 shares in the last quarter. Quantbot Technologies LP acquired a new stake in ProAssurance in the 1st quarter worth about $47,000. Cornerstone Planning Group LLC raised its stake in ProAssurance by 12,152.2% in the 3rd quarter. Cornerstone Planning Group LLC now owns 2,818 shares of the insurance provider’s stock worth $68,000 after purchasing an additional 2,795 shares in the last quarter. GAMMA Investing LLC boosted its holdings in ProAssurance by 50.7% in the 2nd quarter. GAMMA Investing LLC now owns 3,123 shares of the insurance provider’s stock valued at $71,000 after purchasing an additional 1,050 shares during the period. Finally, PenderFund Capital Management Ltd. acquired a new position in shares of ProAssurance during the 1st quarter worth approximately $119,000. 85.58% of the stock is owned by institutional investors and hedge funds.

ProAssurance Company Profile

ProAssurance Corporation is a specialty property and casualty insurance holding company headquartered in Birmingham, Alabama. The company focuses primarily on professional liability coverage for healthcare providers, including physicians, surgeons, dentists and allied health professionals. ProAssurance operates through a group of insurance subsidiaries that underwrite both occurrence- and claims-made policies tailored to the unique risks faced by the medical community.

In addition to professional liability insurance, ProAssurance offers a suite of complementary property and casualty products, such as general liability, workers’ compensation, property and inland marine, and umbrella coverage.