ProAssurance (NYSE:PRA) Announces Earnings Results

ProAssurance (NYSE:PRA) announced its quarterly earnings data on Monday. The insurance provider reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.04, Briefing.com reports. The firm had revenue of $284.97 million for the quarter, compared to analyst estimates of $233.62 million. ProAssurance had a negative return on equity of 0.53% and a negative net margin of 3.39%. The business’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period last year, the company earned ($0.15) EPS.

ProAssurance Stock Performance

PRA stock opened at $15.17 on Wednesday. The business’s fifty day moving average is $12.89 and its 200-day moving average is $13.51. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.38. The company has a market cap of $773.20 million, a P/E ratio of -20.50 and a beta of 0.21. ProAssurance has a twelve month low of $11.76 and a twelve month high of $19.38.

Analysts Set New Price Targets

A number of research analysts have commented on PRA shares. Piper Sandler decreased their price objective on ProAssurance from $16.00 to $15.00 and set an “overweight” rating on the stock in a research report on Monday, March 4th. Truist Financial decreased their price objective on ProAssurance from $15.00 to $14.00 and set a “hold” rating on the stock in a research report on Thursday, February 29th. Finally, JMP Securities reissued a “market outperform” rating and issued a $22.00 price target on shares of ProAssurance in a research note on Monday, April 15th. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $17.00.

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.