ProAssurance Co. (NYSE:PRA) Given Average Recommendation of “Hold” by Brokerages

Shares of ProAssurance Co. (NYSE:PRA) have earned a consensus recommendation of “Hold” from the four brokerages that are presently covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $18.67.

A number of equities research analysts have commented on the stock. Citizens Jmp lowered shares of ProAssurance from an “outperform” rating to a “market perform” rating in a report on Thursday. StockNews.com started coverage on shares of ProAssurance in a research note on Tuesday, April 1st. They set a “hold” rating on the stock. Finally, Citigroup lowered shares of ProAssurance to a “market perform” rating in a report on Thursday.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PRA. Janus Henderson Group PLC raised its stake in shares of ProAssurance by 2,655.2% in the 4th quarter. Janus Henderson Group PLC now owns 645,358 shares of the insurance provider’s stock valued at $10,268,000 after purchasing an additional 621,935 shares during the period. Zacks Investment Management acquired a new position in ProAssurance during the 3rd quarter worth approximately $5,140,000. Arrowstreet Capital Limited Partnership grew its stake in shares of ProAssurance by 92.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 690,871 shares of the insurance provider’s stock worth $10,992,000 after acquiring an additional 331,224 shares in the last quarter. Tudor Investment Corp ET AL acquired a new stake in shares of ProAssurance in the fourth quarter valued at approximately $2,466,000. Finally, Dimensional Fund Advisors LP lifted its position in shares of ProAssurance by 4.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,703,953 shares of the insurance provider’s stock worth $43,019,000 after purchasing an additional 123,232 shares in the last quarter. 85.58% of the stock is currently owned by institutional investors.

ProAssurance Stock Performance

Shares of NYSE PRA traded up $0.01 during mid-day trading on Monday, hitting $23.29. The company had a trading volume of 1,240,129 shares, compared to its average volume of 386,780. ProAssurance has a 12 month low of $10.76 and a 12 month high of $23.43. The firm has a market cap of $1.19 billion, a P/E ratio of 28.07 and a beta of -0.09. The business’s 50-day simple moving average is $17.07 and its 200-day simple moving average is $16.14. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.28 and a quick ratio of 0.28.

ProAssurance (NYSE:PRA) last issued its earnings results on Monday, February 24th. The insurance provider reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.19. The business had revenue of $287.52 million during the quarter, compared to analysts’ expectations of $274.56 million. ProAssurance had a return on equity of 2.65% and a net margin of 3.71%. As a group, analysts predict that ProAssurance will post 0.8 earnings per share for the current fiscal year.

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 Insurance, and Segregated Portfolio Cell Reinsurance segments. It offers professional liability insurance to healthcare providers and institutions, and attorneys and their firms; medical technology liability insurance to medical technology and life sciences companies; and custom alternative risk solutions, including assumed reinsurance, loss portfolio transfers, and captive cell programs for healthcare professional liability insureds.