StockNews.com Begins Coverage on ProAssurance (NYSE:PRA)

Investment analysts at StockNews.com initiated coverage on shares of ProAssurance (NYSE:PRA) in a research report issued on Sunday. The firm set a “hold” rating on the insurance provider’s stock.

Other analysts have also issued reports about the stock. Citizens Jmp lowered shares of ProAssurance from an “outperform” rating to a “market perform” rating in a research report on Thursday, April 3rd. Citigroup lowered shares of ProAssurance to a “market perform” rating in a research report on Thursday, April 3rd. Piper Sandler raised their target price on shares of ProAssurance from $18.00 to $25.00 and gave the stock a “neutral” rating in a research report on Thursday, May 8th. Finally, Raymond James lowered shares of ProAssurance from a “market perform” rating to an “underperform” rating in a research report on Thursday, April 10th. One analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $21.00.

ProAssurance Stock Up 0.3%

Shares of NYSE:PRA opened at $22.98 on Friday. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.35. ProAssurance has a 12 month low of $10.76 and a 12 month high of $23.70. The company has a 50-day moving average price of $21.61 and a 200 day moving average price of $17.75. The company has a market cap of $1.18 billion, a price-to-earnings ratio of 27.69 and a beta of 0.04.

ProAssurance (NYSE:PRA) last posted its quarterly earnings data on Tuesday, May 6th. The insurance provider reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.06). ProAssurance had a return on equity of 2.65% and a net margin of 3.71%. The firm had revenue of $236.28 million during the quarter, compared to analysts’ expectations of $272.85 million. During the same period last year, the company earned $0.08 earnings per share. The business’s revenue for the quarter was down 4.5% compared to the same quarter last year. As a group, equities research analysts predict that ProAssurance will post 0.8 earnings per share for the current year.

Institutional Investors Weigh In On ProAssurance

Institutional investors have recently bought and sold shares of the company. Sterling Capital Management LLC boosted its stake in ProAssurance by 859.4% in the fourth quarter. Sterling Capital Management LLC now owns 1,631 shares of the insurance provider’s stock valued at $26,000 after acquiring an additional 1,461 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of ProAssurance by 307.3% during the first quarter. GAMMA Investing LLC now owns 2,073 shares of the insurance provider’s stock worth $48,000 after buying an additional 1,564 shares during the period. CWM LLC lifted its stake in shares of ProAssurance by 95.9% during the first quarter. CWM LLC now owns 2,204 shares of the insurance provider’s stock worth $51,000 after buying an additional 1,079 shares during the period. KBC Group NV lifted its stake in shares of ProAssurance by 75.4% during the fourth quarter. KBC Group NV now owns 4,184 shares of the insurance provider’s stock worth $67,000 after buying an additional 1,798 shares during the period. Finally, Longfellow Investment Management Co. LLC acquired a new stake in shares of ProAssurance during the first quarter worth $75,000. 85.58% of the stock is currently owned by institutional investors and hedge funds.

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.