ProAssurance (NYSE:PRA) Share Price Crosses Above 200-Day Moving Average – Here’s Why

ProAssurance Corporation (NYSE:PRA) shares crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $24.37 and traded as high as $24.72. ProAssurance shares last traded at $24.7070, with a volume of 891,625 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on PRA. Weiss Ratings raised shares of ProAssurance from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, May 29th. Wall Street Zen downgraded shares of ProAssurance from a “hold” rating to a “sell” rating in a research report on Sunday, May 10th. Finally, Zacks Research raised shares of ProAssurance from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 24th. One analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy”.

ProAssurance Trading Up 0.7%

The company has a fifty day moving average of $24.55 and a two-hundred day moving average of $24.37. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $1.28 billion, a price-to-earnings ratio of 19.77 and a beta of 0.02.

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Ellsworth Advisors LLC lifted its holdings in shares of ProAssurance by 1.4% during the fourth quarter. Ellsworth Advisors LLC now owns 37,141 shares of the insurance provider’s stock worth $899,000 after buying an additional 519 shares during the last quarter. Inspire Investing LLC raised its stake in shares of ProAssurance by 3.0% in the fourth quarter. Inspire Investing LLC now owns 19,386 shares of the insurance provider’s stock valued at $468,000 after purchasing an additional 569 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of ProAssurance by 5.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,935 shares of the insurance provider’s stock valued at $313,000 after purchasing an additional 678 shares in the last quarter. Mitchell Mcleod Pugh & Williams Inc. raised its stake in shares of ProAssurance by 2.7% in the first quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 27,815 shares of the insurance provider’s stock valued at $688,000 after purchasing an additional 734 shares in the last quarter. Finally, LPL Financial LLC raised its stake in shares of ProAssurance by 7.6% in the fourth quarter. LPL Financial LLC now owns 10,616 shares of the insurance provider’s stock valued at $256,000 after purchasing an additional 747 shares in the last quarter. 85.58% of the stock is currently owned by institutional investors and hedge funds.

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.