ProAssurance Corp. Price Target Cut to $47.00 (PRA)
Sandler O’Neill dropped their target price on shares of ProAssurance Corp. (NYSE:PRA) from $49.00 to $47.00 in a research note issued on Tuesday, Stock Ratings Network.com reports. The firm currently has a “hold” rating on the stock. Sandler O’Neill’s target price would indicate a potential upside of 9.25% from the stock’s previous close.
Several other analysts have also recently commented on the stock. Analysts at Zacks downgraded shares of ProAssurance Corp. from a “neutral” rating to an “underperform” rating in a research note to investors on Monday, September 30th. They now have a $42.00 price target on the stock. Separately, analysts at Keefe, Bruyette & Woods reiterated a “hold” rating on shares of ProAssurance Corp. in a research note to investors on Monday, September 9th. They now have a $54.00 price target on the stock. Finally, analysts at SunTrust downgraded shares of ProAssurance Corp. from a “buy” rating to a “neutral” rating in a research note to investors on Thursday, September 5th. They now have a $52.00 price target on the stock, down previously from $58.00. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $51.83.
Shares of ProAssurance Corp. (NYSE:PRA) traded down 1.26% on Tuesday, hitting $43.02. 442,580 shares of the company’s stock traded hands. ProAssurance Corp. has a 1-year low of $41.80 and a 1-year high of $55.44. The stock has a 50-day moving average of $46.56 and a 200-day moving average of $49.59. The company has a market cap of $2.661 billion and a P/E ratio of 8.32.
ProAssurance Corp. (NYSE:PRA) last posted its quarterly earnings results on Monday, August 5th. The company reported $0.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by $0.15. The company had revenue of $170.80 million for the quarter, compared to the consensus estimate of $166.53 million. During the same quarter last year, the company posted $1.92 earnings per share. On average, analysts predict that ProAssurance Corp. will post $3.58 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Sunday, November 10th. Investors of record on Friday, September 27th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date of this dividend is Wednesday, September 25th.
ProAssurance Corporation is a holding company for property and casualty insurance companies focused on professional liability insurance.
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