ProAssurance (NYSE:PRA) Stock Passes Above Two Hundred Day Moving Average – Here’s Why

ProAssurance Corporation (NYSE:PRA)’s stock price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $24.40 and traded as high as $24.76. ProAssurance shares last traded at $24.6650, with a volume of 636,592 shares traded.

Analysts Set New Price Targets

PRA has been the topic of several recent research reports. Wall Street Zen lowered ProAssurance from a “hold” rating to a “sell” rating in a report on Sunday, May 10th. Zacks Research raised ProAssurance from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 24th. Finally, Weiss Ratings raised ProAssurance from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, May 29th. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy”.

ProAssurance Trading Down 0.2%

The company has a market cap of $1.27 billion, a P/E ratio of 19.73 and a beta of 0.02. 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 business has a 50-day moving average price of $24.55 and a two-hundred day moving average price of $24.40.

ProAssurance (NYSE:PRA) last released its quarterly earnings data on Tuesday, May 5th. The insurance provider reported $0.25 EPS for the quarter, meeting analysts’ consensus estimates of $0.25. The business had revenue of $262.63 million during the quarter, compared to the consensus estimate of $216.86 million. ProAssurance had a return on equity of 6.82% and a net margin of 5.99%.The firm’s revenue was down 3.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.13 earnings per share. On average, analysts predict that ProAssurance Corporation will post 1.25 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Groupe la Francaise boosted its position in shares of ProAssurance by 66.6% during the first quarter. Groupe la Francaise now owns 438,577 shares of the insurance provider’s stock worth $10,842,000 after buying an additional 175,382 shares during the period. Bank of America Corp DE boosted its position in shares of ProAssurance by 68.3% during the first quarter. Bank of America Corp DE now owns 125,538 shares of the insurance provider’s stock worth $3,103,000 after buying an additional 50,935 shares during the period. Amundi boosted its position in shares of ProAssurance by 117.8% during the first quarter. Amundi now owns 538,650 shares of the insurance provider’s stock worth $13,315,000 after buying an additional 291,315 shares during the period. Quantinno Capital Management LP boosted its position in shares of ProAssurance by 99.1% during the first quarter. Quantinno Capital Management LP now owns 49,978 shares of the insurance provider’s stock worth $1,235,000 after buying an additional 24,881 shares during the period. Finally, Polar Asset Management Partners Inc. boosted its position in shares of ProAssurance by 517.2% during the first quarter. Polar Asset Management Partners Inc. now owns 198,586 shares of the insurance provider’s stock worth $4,909,000 after buying an additional 166,413 shares during the period. 85.58% of the stock is owned by institutional investors and hedge funds.

ProAssurance Company Profile

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.