Analysts Anticipate ProAssurance Co. (PRA) Will Post Earnings of $0.62 Per Share

Equities research analysts expect ProAssurance Co. (NYSE:PRA) to post $0.62 earnings per share for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for ProAssurance’s earnings, with the highest EPS estimate coming in at $0.68 and the lowest estimate coming in at $0.58. ProAssurance reported earnings of $0.83 per share in the same quarter last year, which suggests a negative year-over-year growth rate of 25.3%. The firm is scheduled to report its next quarterly earnings report after the market closes on Wednesday, February 21st.

According to Zacks, analysts expect that ProAssurance will report full year earnings of $2.09 per share for the current financial year, with EPS estimates ranging from $2.05 to $2.15. For the next financial year, analysts anticipate that the firm will report earnings of $2.11 per share, with EPS estimates ranging from $2.05 to $2.20. Zacks’ EPS averages are an average based on a survey of research analysts that cover ProAssurance.

Several brokerages recently issued reports on PRA. Zacks Investment Research raised shares of ProAssurance from a “hold” rating to a “buy” rating and set a $63.00 target price on the stock in a research note on Friday, January 5th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $60.00 target price on shares of ProAssurance in a research note on Monday, October 16th. Finally, Boenning Scattergood reissued a “hold” rating on shares of ProAssurance in a research note on Tuesday, November 7th. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the company. The company has an average rating of “Hold” and an average target price of $59.33.

In other ProAssurance news, Chairman William Stancil Starnes sold 2,442 shares of the company’s stock in a transaction on Wednesday, January 10th. The shares were sold at an average price of $55.00, for a total transaction of $134,310.00. Following the transaction, the chairman now owns 324,895 shares in the company, valued at $17,869,225. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In the last 90 days, insiders have sold 39,074 shares of company stock worth $2,149,329. Corporate insiders own 1.80% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PRA. Victory Capital Management Inc. raised its holdings in ProAssurance by 34.2% during the third quarter. Victory Capital Management Inc. now owns 1,470,050 shares of the insurance provider’s stock worth $80,338,000 after buying an additional 374,906 shares during the last quarter. Koch Industries Inc. acquired a new position in ProAssurance during the second quarter worth $230,000. Janus Henderson Group PLC acquired a new position in ProAssurance during the second quarter worth $8,896,000. Assenagon Asset Management S.A. acquired a new position in ProAssurance during the fourth quarter worth $8,281,000. Finally, Wells Fargo & Company MN raised its holdings in ProAssurance by 10.7% during the third quarter. Wells Fargo & Company MN now owns 1,313,376 shares of the insurance provider’s stock worth $71,777,000 after buying an additional 127,382 shares during the last quarter. Hedge funds and other institutional investors own 80.07% of the company’s stock.

ProAssurance (NYSE PRA) opened at $52.60 on Thursday. The stock has a market cap of $2,810.00, a price-to-earnings ratio of 19.48 and a beta of 0.47. ProAssurance has a 12 month low of $50.70 and a 12 month high of $63.45. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.40 and a current ratio of 0.40.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 10th. Shareholders of record on Thursday, December 21st were issued a dividend of $0.31 per share. The ex-dividend date of this dividend was Wednesday, December 20th. This represents a $1.24 annualized dividend and a yield of 2.36%. ProAssurance’s payout ratio is 45.93%.

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ProAssurance 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.

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Earnings History and Estimates for ProAssurance (NYSE:PRA)

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