ProAssurance Co. (NYSE:PRA) has received a consensus recommendation of “Hold” from the eight ratings firms that are presently covering the stock, MarketBeat.com reports. Six equities research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $50.00.
Several equities analysts have recently commented on the stock. Zacks Investment Research upgraded shares of ProAssurance from a “hold” rating to a “buy” rating and set a $54.00 price target on the stock in a report on Tuesday, September 11th. ValuEngine upgraded shares of ProAssurance from a “sell” rating to a “hold” rating in a report on Wednesday, August 15th. Sandler O’Neill restated a “hold” rating and set a $44.00 price target on shares of ProAssurance in a report on Thursday, August 9th. Finally, Boenning Scattergood restated a “hold” rating on shares of ProAssurance in a report on Wednesday, August 8th.
NYSE PRA traded up $0.85 on Friday, hitting $49.40. 223,705 shares of the stock were exchanged, compared to its average volume of 228,094. ProAssurance has a 52-week low of $34.95 and a 52-week high of $63.45. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.35 and a current ratio of 0.35. The stock has a market cap of $2.58 billion, a price-to-earnings ratio of 24.46 and a beta of 0.60.
ProAssurance (NYSE:PRA) last posted its quarterly earnings data on Tuesday, August 7th. The insurance provider reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.09. ProAssurance had a net margin of 9.67% and a return on equity of 6.14%. The firm had revenue of $248.02 million for the quarter, compared to analysts’ expectations of $219.98 million. During the same period in the previous year, the company posted $0.40 EPS. research analysts forecast that ProAssurance will post 1.83 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 10th. Investors of record on Friday, September 28th will be issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 2.51%. The ex-dividend date of this dividend is Thursday, September 27th. ProAssurance’s dividend payout ratio is presently 61.39%.
Large investors have recently modified their holdings of the stock. Itau Unibanco Holding S.A. bought a new stake in ProAssurance in the second quarter worth $137,000. Adviser Investments LLC bought a new stake in ProAssurance in the second quarter worth $176,000. Koch Industries Inc. bought a new stake in ProAssurance in the first quarter worth $208,000. Laurion Capital Management LP bought a new stake in ProAssurance in the second quarter worth $248,000. Finally, Cubist Systematic Strategies LLC boosted its holdings in ProAssurance by 39.7% in the first quarter. Cubist Systematic Strategies LLC now owns 5,886 shares of the insurance provider’s stock worth $286,000 after purchasing an additional 1,672 shares in the last quarter. Hedge funds and other institutional investors own 85.80% of the company’s stock.
ProAssurance Company Profile
ProAssurance Corporation, through its subsidiaries, provides property and casualty insurance, and reinsurance products in the United States. The company operates through Specialty Property and Casualty, Workers' Compensation, and Lloyd's Syndicate segments. It offers 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 for employers, groups, and associations.
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