ProAssurance Corporation (NYSE:PRA) Receives Consensus Recommendation of “Reduce” from Analysts

Shares of ProAssurance Corporation (NYSE:PRA) have earned a consensus rating of “Reduce” from the six research firms that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating and five have issued a hold rating on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $25.00.

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

Institutional Investors Weigh In On ProAssurance

Several hedge funds and other institutional investors have recently made changes to their positions in PRA. Russell Investments Group Ltd. boosted its holdings in ProAssurance by 356.2% in the second quarter. Russell Investments Group Ltd. now owns 1,405 shares of the insurance provider’s stock valued at $32,000 after purchasing an additional 1,097 shares in the last quarter. Cornerstone Planning Group LLC lifted its position in shares of ProAssurance by 12,152.2% during the 3rd quarter. Cornerstone Planning Group LLC now owns 2,818 shares of the insurance provider’s stock worth $68,000 after buying an additional 2,795 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of ProAssurance by 50.7% during the 2nd quarter. GAMMA Investing LLC now owns 3,123 shares of the insurance provider’s stock worth $71,000 after buying an additional 1,050 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of ProAssurance by 271.2% in 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 in the last quarter. Finally, BNP Paribas Financial Markets grew its position in shares of ProAssurance by 22.8% in the 2nd quarter. BNP Paribas Financial Markets now owns 5,679 shares of the insurance provider’s stock valued at $130,000 after buying an additional 1,056 shares during the last quarter. Institutional investors and hedge funds own 85.58% of the company’s stock.

ProAssurance Trading Down 0.1%

NYSE:PRA opened at $24.14 on Wednesday. ProAssurance has a 12-month low of $13.90 and a 12-month high of $24.41. The firm has a market cap of $1.24 billion, a PE ratio of 37.13 and a beta of 0.09. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.32. The stock has a fifty day moving average price of $24.06 and a 200 day moving average price of $23.93.

ProAssurance (NYSE:PRA) last issued its quarterly earnings results on Tuesday, November 4th. The insurance provider reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.13). ProAssurance had a return on equity of 4.78% and a net margin of 3.01%.The company had revenue of $279.55 million for the quarter, compared to analysts’ expectations of $268.71 million. During the same quarter last year, the company earned $0.34 EPS. ProAssurance’s revenue for the quarter was down 2.0% compared to the same quarter last year. Sell-side analysts anticipate 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.