ProAssurance Corporation (NYSE:PRA) Receives Consensus Recommendation of “Hold” from Analysts

Shares of ProAssurance Corporation (NYSE:PRA) have been given a consensus recommendation of “Hold” by the six ratings firms that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a strong buy rating on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $25.00.

A number of analysts recently weighed in on PRA shares. Wall Street Zen raised shares of ProAssurance from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. Zacks Research upgraded ProAssurance from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 24th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of ProAssurance in a research note on Thursday, January 22nd.

Hedge Funds Weigh In On ProAssurance

Hedge funds have recently bought and sold shares of the business. Alpine Associates Management Inc. lifted its position in shares of ProAssurance by 73.6% during the third quarter. Alpine Associates Management Inc. now owns 952,547 shares of the insurance provider’s stock worth $22,852,000 after purchasing an additional 403,807 shares during the last quarter. Hudson Bay Capital Management LP boosted its stake in shares of ProAssurance by 1,050.0% during the third quarter. Hudson Bay Capital Management LP now owns 575,000 shares of the insurance provider’s stock valued at $13,794,000 after purchasing an additional 525,000 shares during the period. Wolverine Asset Management LLC grew its holdings in shares of ProAssurance by 158.7% in the third quarter. Wolverine Asset Management LLC now owns 84,790 shares of the insurance provider’s stock worth $2,034,000 after purchasing an additional 52,012 shares during the last quarter. Gardner Lewis Asset Management L P bought a new position in shares of ProAssurance in the third quarter worth about $7,007,000. Finally, Groupe la Francaise purchased a new position in ProAssurance in the 2nd quarter worth about $4,891,000. Institutional investors own 85.58% of the company’s stock.

ProAssurance Trading Up 0.5%

PRA stock opened at $24.60 on Monday. ProAssurance has a twelve month low of $22.72 and a twelve month high of $24.77. The stock has a market capitalization of $1.26 billion, a price-to-earnings ratio of 25.10 and a beta of 0.04. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.31. The firm’s fifty day simple moving average is $24.41 and its two-hundred day simple moving average is $24.15.

ProAssurance (NYSE:PRA) last released its earnings results on Monday, February 23rd. The insurance provider reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.60. ProAssurance had a net margin of 4.64% and a return on equity of 6.50%. The firm had revenue of $269.64 million during the quarter, compared to analyst estimates of $261.08 million. During the same quarter last year, the business earned $0.36 EPS. The business’s revenue was down 7.1% on a year-over-year basis. As a group, analysts anticipate that ProAssurance will post 0.8 earnings per share for the current year.

About ProAssurance

ProAssurance Corporation is a specialty property and casualty insurance holding company headquartered in Birmingham, Alabama. The company focuses primarily on professional liability coverage for healthcare providers, including physicians, surgeons, dentists and allied health professionals. ProAssurance operates through a group of insurance subsidiaries that underwrite both occurrence- and claims-made policies tailored to the unique risks faced by the medical community.

In addition to professional liability insurance, ProAssurance offers a suite of complementary property and casualty products, such as general liability, workers’ compensation, property and inland marine, and umbrella coverage.