Brokerages Set ProAssurance Corporation (NYSE:PRA) PT at $21.50

ProAssurance Corporation (NYSE:PRA) has received an average recommendation of “Hold” from the seven research firms that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $21.50.

PRA has been the subject of a number of analyst reports. Zacks Research upgraded shares of ProAssurance from a “hold” rating to a “strong-buy” rating in a research report on Monday, September 22nd. Weiss Ratings restated a “hold (c)” rating on shares of ProAssurance in a research report on Wednesday, October 8th.

ProAssurance Price Performance

PRA stock opened at $24.10 on Friday. The firm has a 50 day moving average of $23.92 and a 200-day moving average of $23.54. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.33. ProAssurance has a 12 month low of $13.00 and a 12 month high of $24.22. The firm has a market capitalization of $1.24 billion, a P/E ratio of 25.63 and a beta of 0.12.

ProAssurance (NYSE:PRA) last released its quarterly earnings data on Friday, May 20th. The insurance provider reported $0.04 EPS for the quarter. ProAssurance had a net margin of 4.33% and a return on equity of 5.62%. The company had revenue of $220.02 million during the quarter. As a group, sell-side analysts predict that ProAssurance will post 0.8 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ProAssurance

Institutional investors and hedge funds have recently bought and sold shares of the stock. Alpine Associates Management Inc. purchased a new stake in ProAssurance in the first quarter valued at approximately $5,167,000. GAMMA Investing LLC raised its stake in ProAssurance by 307.3% in the first quarter. GAMMA Investing LLC now owns 2,073 shares of the insurance provider’s stock valued at $48,000 after purchasing an additional 1,564 shares in the last quarter. Victory Capital Management Inc. purchased a new stake in ProAssurance in the first quarter valued at approximately $209,000. Envestnet Portfolio Solutions Inc. purchased a new stake in ProAssurance in the second quarter valued at approximately $587,000. Finally, Hsbc Holdings PLC raised its stake in ProAssurance by 76.4% in the first quarter. Hsbc Holdings PLC now owns 66,620 shares of the insurance provider’s stock valued at $1,553,000 after purchasing an additional 28,861 shares in the last quarter. 85.58% of the stock is owned by hedge funds and other 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 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.