ProAssurance Corporation (NYSE:PRA) – Equities research analysts at SunTrust Banks dropped their Q3 2017 EPS estimates for shares of ProAssurance Corporation in a report issued on Wednesday. SunTrust Banks analyst M. Hughes now forecasts that the insurance provider will post earnings of $0.41 per share for the quarter, down from their prior forecast of $0.53. SunTrust Banks also issued estimates for ProAssurance Corporation’s FY2017 earnings at $2.03 EPS.

ProAssurance Corporation (NYSE:PRA) last announced its quarterly earnings results on Monday, August 7th. The insurance provider reported $0.40 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.01. The company had revenue of $205.58 million during the quarter, compared to analyst estimates of $207.14 million. ProAssurance Corporation had a return on equity of 6.59% and a net margin of 16.80%. The firm’s revenue was down 4.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.67 earnings per share. COPYRIGHT VIOLATION NOTICE: This report was published by American Banking News and is the sole property of of American Banking News. If you are reading this report on another domain, it was copied illegally and republished in violation of U.S. and international copyright legislation. The legal version of this report can be read at https://www.americanbankingnews.com/2017/10/13/proassurance-corporation-forecasted-to-earn-q3-2017-earnings-of-0-41-per-share-pra.html.

Several other analysts have also issued reports on the company. BidaskClub lowered ProAssurance Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. Buckingham Research initiated coverage on ProAssurance Corporation in a report on Monday, September 11th. They set a “neutral” rating and a $54.00 price objective for the company. Keefe, Bruyette & Woods initiated coverage on ProAssurance Corporation in a report on Monday, July 17th. They set a “market perform” rating and a $61.00 price objective for the company. Zacks Investment Research upgraded ProAssurance Corporation from a “hold” rating to a “buy” rating and set a $69.00 price objective for the company in a report on Wednesday, July 5th. Finally, Boenning Scattergood reiterated a “hold” rating on shares of ProAssurance Corporation in a report on Tuesday, August 1st. Two equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $61.00.

Shares of ProAssurance Corporation (NYSE PRA) opened at 55.40 on Friday. The firm has a market capitalization of $2.96 billion, a price-to-earnings ratio of 19.79 and a beta of 0.54. ProAssurance Corporation has a 52 week low of $50.50 and a 52 week high of $63.53. The firm’s 50-day moving average price is $54.05 and its 200 day moving average price is $58.15.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in ProAssurance Corporation by 8.4% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,067 shares of the insurance provider’s stock valued at $126,000 after buying an additional 161 shares in the last quarter. First Quadrant L P CA raised its holdings in ProAssurance Corporation by 124.1% during the second quarter. First Quadrant L P CA now owns 2,465 shares of the insurance provider’s stock valued at $150,000 after buying an additional 1,365 shares in the last quarter. Flinton Capital Management LLC raised its holdings in ProAssurance Corporation by 55.3% during the second quarter. Flinton Capital Management LLC now owns 2,560 shares of the insurance provider’s stock valued at $156,000 after buying an additional 912 shares in the last quarter. Riverhead Capital Management LLC raised its holdings in ProAssurance Corporation by 60.8% during the second quarter. Riverhead Capital Management LLC now owns 2,895 shares of the insurance provider’s stock valued at $176,000 after buying an additional 1,095 shares in the last quarter. Finally, Pacad Investment Ltd. raised its holdings in ProAssurance Corporation by 47.6% during the second quarter. Pacad Investment Ltd. now owns 3,100 shares of the insurance provider’s stock valued at $188,000 after buying an additional 1,000 shares in the last quarter. Institutional investors own 79.76% of the company’s stock.

In related news, insider Neil Frank B. O bought 2,500 shares of the business’s stock in a transaction on Friday, August 18th. The shares were bought at an average cost of $54.50 per share, for a total transaction of $136,250.00. Following the completion of the acquisition, the insider now directly owns 104,431 shares in the company, valued at $5,691,489.50. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Howard H. Friedman bought 2,000 shares of the business’s stock in a transaction on Wednesday, August 9th. The shares were bought at an average price of $55.00 per share, for a total transaction of $110,000.00. Following the completion of the acquisition, the insider now owns 259,573 shares of the company’s stock, valued at $14,276,515. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 7,000 shares of company stock worth $383,125. Corporate insiders own 1.80% of the company’s stock.

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 10th. Shareholders of record on Friday, September 29th were issued a dividend of $0.31 per share. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $1.24 annualized dividend and a yield of 2.24%. ProAssurance Corporation’s dividend payout ratio (DPR) is currently 44.60%.

ProAssurance Corporation Company Profile

ProAssurance Corporation (ProAssurance) is a holding company for property and casualty insurance companies. The Company provides professional liability insurance for healthcare professionals and facilities, professional liability insurance for attorneys, liability insurance for medical technology and life sciences risks, and workers’ compensation insurance.

Earnings History and Estimates for ProAssurance Corporation (NYSE:PRA)

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