ProAssurance Corporation (NYSE:PRA) Receives $25.00 Consensus PT from Brokerages

ProAssurance Corporation (NYSE:PRA) has been assigned an average rating of “Reduce” from the six research firms that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating and five have given a hold rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $25.00.

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

ProAssurance Stock Performance

Shares of NYSE:PRA opened at $24.08 on Wednesday. The firm has a fifty day simple moving average of $24.05 and a two-hundred day simple moving average of $23.89. ProAssurance has a 52 week low of $13.90 and a 52 week high of $24.41. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $1.24 billion, a P/E ratio of 37.04 and a beta of 0.09.

ProAssurance (NYSE:PRA) last announced its earnings results on Friday, May 20th. The insurance provider reported $0.04 earnings per share (EPS) for the quarter. The firm had revenue of $220.02 million for the quarter. ProAssurance had a net margin of 3.01% and a return on equity of 4.78%. On average, analysts expect that ProAssurance will post 0.8 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ProAssurance

Several hedge funds have recently added to or reduced their stakes in PRA. Russell Investments Group Ltd. raised its position in ProAssurance by 356.2% in the 2nd quarter. Russell Investments Group Ltd. now owns 1,405 shares of the insurance provider’s stock worth $32,000 after purchasing an additional 1,097 shares during the period. Cornerstone Planning Group LLC raised its holdings in shares of ProAssurance by 12,152.2% in the third 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 period. GAMMA Investing LLC raised its holdings in shares of ProAssurance by 50.7% in the second 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 period. Tower Research Capital LLC TRC lifted its stake in shares of ProAssurance by 271.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,576 shares of the insurance provider’s stock worth $127,000 after acquiring an additional 4,074 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its holdings in ProAssurance by 22.8% during the 2nd quarter. BNP Paribas Financial Markets now owns 5,679 shares of the insurance provider’s stock valued at $130,000 after acquiring an additional 1,056 shares during the period. 85.58% of the stock is currently owned by institutional investors.

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.