ProAssurance (NYSE:PRA) had its price objective decreased by research analysts at SunTrust Banks to $45.00 in a note issued to investors on Friday, The Fly reports. The firm presently has a “hold” rating on the insurance provider’s stock. SunTrust Banks’ price objective would suggest a potential upside of 14.47% from the company’s current price. The analysts noted that the move was a valuation call.

Several other research firms also recently weighed in on PRA. Boenning Scattergood reaffirmed a “hold” rating on shares of ProAssurance in a research report on Thursday, November 15th. Zacks Investment Research raised ProAssurance from a “hold” rating to a “buy” rating and set a $54.00 target price for the company in a research report on Tuesday, September 11th. Finally, JMP Securities lifted their target price on ProAssurance from $50.00 to $52.00 and gave the company a “market outperform” rating in a research report on Friday, September 21st. Seven analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $49.40.

Shares of NYSE:PRA opened at $39.31 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.35 and a quick ratio of 0.35. The stock has a market cap of $2.11 billion, a P/E ratio of 21.25 and a beta of 0.66. ProAssurance has a 12-month low of $34.95 and a 12-month high of $63.45.

ProAssurance (NYSE:PRA) last issued its quarterly earnings data on Tuesday, November 6th. The insurance provider reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.02. The firm had revenue of $249.33 million during the quarter, compared to the consensus estimate of $223.98 million. ProAssurance had a return on equity of 6.28% and a net margin of 9.70%. The company’s quarterly revenue was up 9.1% on a year-over-year basis. During the same period last year, the company earned $0.45 EPS. On average, sell-side analysts forecast that ProAssurance will post 1.72 EPS for the current year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PRA. Aperio Group LLC grew its position in ProAssurance by 30.6% in the 2nd quarter. Aperio Group LLC now owns 82,702 shares of the insurance provider’s stock valued at $2,932,000 after acquiring an additional 19,391 shares in the last quarter. First Trust Advisors LP grew its position in shares of ProAssurance by 146.4% during the second quarter. First Trust Advisors LP now owns 174,529 shares of the insurance provider’s stock worth $6,187,000 after buying an additional 103,684 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in shares of ProAssurance during the second quarter worth about $402,000. Bank of New York Mellon Corp grew its position in shares of ProAssurance by 7.5% during the second quarter. Bank of New York Mellon Corp now owns 669,796 shares of the insurance provider’s stock worth $23,744,000 after buying an additional 46,762 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new position in shares of ProAssurance during the second quarter worth about $570,000. 87.43% of the stock is owned by institutional investors.

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, and Lloyd's Syndicate segments. It offers professional liability insurance for healthcare professionals and facilities; professional liability insurance for attorneys; liability insurance for medical technology and life sciences risks; and workers' compensation insurance for employers, groups, and associations.

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Analyst Recommendations for ProAssurance (NYSE:PRA)

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