ProAssurance Co. (PRA) Expected to Post Quarterly Sales of $214.65 Million

Equities research analysts expect ProAssurance Co. (NYSE:PRA) to announce $214.65 million in sales for the current quarter, Zacks reports. Three analysts have made estimates for ProAssurance’s earnings, with estimates ranging from $213.32 million to $215.32 million. ProAssurance reported sales of $220.27 million during the same quarter last year, which would suggest a negative year over year growth rate of 2.6%. The company is expected to issue its next earnings report after the market closes on Wednesday, February 21st.

According to Zacks, analysts expect that ProAssurance will report full-year sales of $214.65 million for the current financial year, with estimates ranging from $843.06 million to $845.05 million. For the next year, analysts expect that the company will post sales of $872.11 million per share, with estimates ranging from $857.68 million to $880.96 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that that provide coverage for ProAssurance.

PRA has been the topic of several recent research reports. Zacks Investment Research lowered shares of ProAssurance from a “buy” rating to a “hold” rating in a research report on Monday, January 22nd. Boenning Scattergood reiterated a “hold” rating on shares of ProAssurance in a research report on Tuesday, November 7th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and set a $61.00 target price on shares of ProAssurance in a research report on Wednesday, December 6th. One research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. ProAssurance has an average rating of “Hold” and a consensus price target of $59.33.

ProAssurance (NYSE:PRA) traded up $0.60 during midday trading on Friday, reaching $51.40. 175,670 shares of the company’s stock traded hands, compared to its average volume of 214,629. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.22. The firm has a market cap of $2,713.49, a price-to-earnings ratio of 19.11 and a beta of 0.47. ProAssurance has a 52 week low of $50.35 and a 52 week high of $63.45.

In other news, Chairman William Stancil Starnes sold 2,442 shares of ProAssurance stock in a transaction dated Wednesday, January 10th. The shares were sold at an average price of $55.00, for a total transaction of $134,310.00. Following the sale, the chairman now directly owns 324,895 shares in the company, valued at approximately $17,869,225. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last quarter, insiders have sold 39,074 shares of company stock worth $2,149,329. 1.80% of the stock is owned by company insiders.

Several institutional investors have recently modified their holdings of PRA. Victory Capital Management Inc. boosted its position in shares of ProAssurance by 34.2% during the 3rd quarter. Victory Capital Management Inc. now owns 1,470,050 shares of the insurance provider’s stock valued at $80,338,000 after acquiring an additional 374,906 shares in the last quarter. Koch Industries Inc. acquired a new position in ProAssurance in the second quarter valued at about $230,000. BlackRock Inc. boosted its position in ProAssurance by 3.1% in the fourth quarter. BlackRock Inc. now owns 5,573,593 shares of the insurance provider’s stock valued at $318,531,000 after buying an additional 169,585 shares in the last quarter. Janus Henderson Group PLC acquired a new position in ProAssurance in the second quarter valued at about $8,896,000. Finally, Assenagon Asset Management S.A. acquired a new position in ProAssurance in the fourth quarter valued at about $8,281,000. Institutional investors and hedge funds own 80.07% of the company’s stock.

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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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