ProAssurance (NYSE:PRA) Upgraded to Hold at Wall Street Zen

Wall Street Zen upgraded shares of ProAssurance (NYSE:PRA) from a sell rating to a hold rating in a research note issued to investors on Saturday morning.

A number of other research analysts have also recently issued reports on the company. Zacks Research raised ProAssurance from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 24th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of ProAssurance in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, ProAssurance currently has an average rating of “Hold” and a consensus target price of $25.00.

ProAssurance Trading Up 0.0%

NYSE:PRA opened at $24.57 on Friday. The firm has a market capitalization of $1.26 billion, a P/E ratio of 25.07 and a beta of 0.09. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.27 and a quick ratio of 0.28. ProAssurance has a one year low of $14.49 and a one year high of $24.69. The company’s 50-day simple moving average is $24.26 and its 200 day simple moving average is $24.07.

ProAssurance (NYSE:PRA) last released its earnings results on Monday, February 23rd. The insurance provider reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.60. ProAssurance had a net margin of 4.64% and a return on equity of 6.50%. The firm had revenue of $269.64 million during the quarter, compared to analyst estimates of $261.08 million. During the same period last year, the business earned $0.36 earnings per share. The business’s revenue was down 7.1% on a year-over-year basis. As a group, analysts forecast that ProAssurance will post 0.8 EPS for the current fiscal year.

Institutional Trading of ProAssurance

A number of institutional investors have recently made changes to their positions in the stock. Russell Investments Group Ltd. raised its holdings in shares of ProAssurance by 356.2% during 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 during the last quarter. Cornerstone Planning Group LLC grew its position in ProAssurance by 12,152.2% in the 3rd quarter. Cornerstone Planning Group LLC now owns 2,818 shares of the insurance provider’s stock worth $68,000 after purchasing an additional 2,795 shares during the period. GAMMA Investing LLC raised its stake in ProAssurance by 35.7% during the 3rd quarter. GAMMA Investing LLC now owns 4,238 shares of the insurance provider’s stock valued at $102,000 after buying an additional 1,115 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings 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 valued at $127,000 after buying an additional 4,074 shares during the period. Finally, BNP Paribas Financial Markets boosted its stake 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 worth $130,000 after buying an additional 1,056 shares during the last quarter. Hedge funds and other institutional investors own 85.58% of the company’s stock.

ProAssurance Company Profile

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.