ProAssurance Corporation (NYSE:PRA) Receives $21.50 Average PT from Analysts

ProAssurance Corporation (NYSE:PRA) has earned a consensus recommendation of “Hold” from the seven brokerages that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $21.50.

A number of equities analysts have weighed in on the company. Weiss Ratings reissued a “hold (c)” rating on shares of ProAssurance in a research note on Saturday. Zacks Research raised ProAssurance from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 22nd.

Hedge Funds Weigh In On ProAssurance

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. lifted its stake in shares of ProAssurance by 356.2% in the 2nd 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 during the last quarter. Quantbot Technologies LP acquired a new position in shares of ProAssurance in the 1st quarter valued at $47,000. GAMMA Investing LLC lifted its stake in shares of ProAssurance by 307.3% in the 1st 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 during the last quarter. CWM LLC lifted its stake in shares of ProAssurance by 95.9% in the 1st quarter. CWM LLC now owns 2,204 shares of the insurance provider’s stock valued at $51,000 after purchasing an additional 1,079 shares during the last quarter. Finally, Longfellow Investment Management Co. LLC acquired a new position in shares of ProAssurance in the 1st quarter valued at $75,000. Institutional investors and hedge funds own 85.58% of the company’s stock.

ProAssurance Stock Performance

NYSE PRA opened at $24.11 on Friday. The stock’s fifty day moving average is $23.91 and its two-hundred day moving average is $23.53. The firm has a market capitalization of $1.24 billion, a P/E ratio of 25.64 and a beta of 0.12. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.26 and a current ratio of 0.26. ProAssurance has a fifty-two week low of $13.00 and a fifty-two week high of $24.22.

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

ProAssurance Company Profile

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.