ProAssurance Corporation (NYSE:PRA) Given Consensus Recommendation of “Reduce” by Analysts

ProAssurance Corporation (NYSE:PRA) has been given a consensus recommendation of “Reduce” by the six ratings firms that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $25.00.

A number of research firms recently issued reports on PRA. Weiss Ratings reaffirmed a “hold (c)” rating on shares of ProAssurance in a research note on Thursday, January 22nd. Wall Street Zen upgraded ProAssurance to a “sell” rating in a research report on Saturday, November 22nd. Finally, Zacks Research downgraded shares of ProAssurance from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 5th.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of PRA. Russell Investments Group Ltd. lifted its stake in shares of ProAssurance by 356.2% during the 2nd quarter. Russell Investments Group Ltd. now owns 1,405 shares of the insurance provider’s stock worth $32,000 after purchasing an additional 1,097 shares during the period. Cornerstone Planning Group LLC boosted its position in shares of ProAssurance by 12,152.2% in the third quarter. Cornerstone Planning Group LLC now owns 2,818 shares of the insurance provider’s stock worth $68,000 after acquiring an additional 2,795 shares during the last quarter. GAMMA Investing LLC increased its position in ProAssurance by 50.7% during the second quarter. GAMMA Investing LLC now owns 3,123 shares of the insurance provider’s stock worth $71,000 after purchasing an additional 1,050 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of ProAssurance by 271.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,576 shares of the insurance provider’s stock valued at $127,000 after purchasing an additional 4,074 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its stake in shares of ProAssurance by 22.8% during the 2nd quarter. BNP Paribas Financial Markets now owns 5,679 shares of the insurance provider’s stock valued at $130,000 after buying an additional 1,056 shares during the period. 85.58% of the stock is currently owned by institutional investors and hedge funds.

ProAssurance Price Performance

ProAssurance stock opened at $24.26 on Friday. The firm has a market capitalization of $1.25 billion, a PE ratio of 37.32 and a beta of 0.09. ProAssurance has a 52 week low of $13.90 and a 52 week high of $24.41. The firm’s 50-day simple moving average is $24.10 and its 200 day simple moving average is $23.98. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.32.

ProAssurance (NYSE:PRA) last announced its earnings results on Tuesday, November 4th. The insurance provider reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.13). The business had revenue of $279.55 million for the quarter, compared to analyst estimates of $268.71 million. ProAssurance had a return on equity of 4.78% and a net margin of 3.01%.The business’s revenue was down 2.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.34 EPS. On average, equities research analysts predict that ProAssurance will post 0.8 EPS for the current fiscal year.

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.