ProAssurance Corporation (NYSE:PRA) Receives $25.00 Average Price Target from Analysts

ProAssurance Corporation (NYSE:PRA) has received an average rating of “Hold” from the six ratings firms that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $25.00.

A number of analysts have commented on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of ProAssurance in a research report on Thursday, January 22nd. Zacks Research upgraded ProAssurance from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 24th. Finally, Wall Street Zen raised ProAssurance from a “sell” rating to a “hold” rating in a research note on Saturday, February 28th.

Hedge Funds Weigh In On ProAssurance

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. increased its stake in shares of ProAssurance by 356.2% during the 2nd quarter. Russell Investments Group Ltd. now owns 1,405 shares of the insurance provider’s stock worth $32,000 after purchasing an additional 1,097 shares in the last quarter. Cornerstone Planning Group LLC lifted 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 valued at $68,000 after buying an additional 2,795 shares in the last quarter. GAMMA Investing LLC grew its holdings in ProAssurance by 35.7% during the 3rd quarter. GAMMA Investing LLC now owns 4,238 shares of the insurance provider’s stock valued at $102,000 after buying an additional 1,115 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in ProAssurance by 271.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,576 shares of the insurance provider’s stock valued at $127,000 after buying an additional 4,074 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its position in ProAssurance by 22.8% during the second quarter. BNP Paribas Financial Markets now owns 5,679 shares of the insurance provider’s stock worth $130,000 after buying an additional 1,056 shares in the last quarter. Institutional investors and hedge funds own 85.58% of the company’s stock.

ProAssurance Price Performance

ProAssurance stock opened at $24.60 on Monday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.27 and a current ratio of 0.27. The business has a fifty day moving average of $24.46 and a two-hundred day moving average of $24.17. ProAssurance has a one year low of $22.72 and a one year high of $24.85. The company has a market cap of $1.26 billion, a P/E ratio of 25.10 and a beta of 0.04.

ProAssurance (NYSE:PRA) last issued its earnings results on Monday, February 23rd. The insurance provider reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.60. The company had revenue of $269.64 million during the quarter, compared to analysts’ expectations of $261.08 million. ProAssurance had a net margin of 4.64% and a return on equity of 6.50%. The firm’s quarterly revenue was down 7.1% compared to the same quarter last year. During the same period last year, the company posted $0.36 earnings per share. As a group, analysts predict that ProAssurance will post 0.8 earnings per share for the current fiscal year.

About ProAssurance

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.