ProAssurance Corporation (NYSE:PRA) Receives Average Rating of “Reduce” from Analysts

Shares of ProAssurance Corporation (NYSE:PRA) have earned an average rating of “Reduce” from the six brokerages that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating and five have issued a hold rating on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $25.00.

Several equities research analysts recently commented on PRA shares. Weiss Ratings restated a “hold (c)” rating on shares of ProAssurance in a research report on Thursday, January 22nd. Wall Street Zen raised ProAssurance to a “sell” rating in a research report on Saturday, November 22nd. Finally, Zacks Research lowered ProAssurance from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 5th.

Institutional Trading of ProAssurance

Several institutional investors have recently made changes to their positions in the stock. GABELLI & Co INVESTMENT ADVISERS INC. acquired a new position in ProAssurance in the 4th quarter valued at approximately $1,566,000. Gabelli Funds LLC bought a new position in ProAssurance during the fourth quarter worth about $1,720,000. New York Life Investment Management LLC boosted its position in ProAssurance by 3.9% in the fourth quarter. New York Life Investment Management LLC now owns 115,960 shares of the insurance provider’s stock valued at $2,802,000 after buying an additional 4,366 shares in the last quarter. Versor Investments LP grew its holdings in ProAssurance by 8.8% during the 4th quarter. Versor Investments LP now owns 94,218 shares of the insurance provider’s stock worth $2,276,000 after acquiring an additional 7,658 shares during the last quarter. Finally, Credit Industriel ET Commercial boosted its holdings in ProAssurance by 37.5% in the fourth quarter. Credit Industriel ET Commercial now owns 346,854 shares of the insurance provider’s stock valued at $8,380,000 after acquiring an additional 94,579 shares during the last quarter. 85.58% of the stock is currently owned by institutional investors and hedge funds.

ProAssurance Stock Performance

Shares of NYSE PRA opened at $24.46 on Friday. The stock’s fifty day simple moving average is $24.13 and its 200 day simple moving average is $24.00. The stock has a market capitalization of $1.26 billion, a price-to-earnings ratio of 37.62 and a beta of 0.09. 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 52-week low of $13.90 and a 52-week high of $24.62.

ProAssurance (NYSE:PRA) last announced its earnings results on Tuesday, November 4th. The insurance provider reported $0.15 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.13). The company had revenue of $279.55 million for the quarter, compared to analysts’ expectations of $268.71 million. ProAssurance had a net margin of 3.01% and a return on equity of 4.78%. The company’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.34 earnings per share. As a group, sell-side analysts forecast that ProAssurance will post 0.8 earnings per share for the current fiscal year.

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.