$231.23 Million in Sales Expected for ProAssurance Co. (PRA) This Quarter

Equities analysts expect that ProAssurance Co. (NYSE:PRA) will post $231.23 million in sales for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for ProAssurance’s earnings. The highest sales estimate is $237.10 million and the lowest is $226.97 million. ProAssurance posted sales of $211.98 million in the same quarter last year, which would indicate a positive year over year growth rate of 9.1%. The company is expected to issue its next quarterly earnings results on Wednesday, February 20th.

On average, analysts expect that ProAssurance will report full-year sales of $926.91 million for the current financial year, with estimates ranging from $921.26 million to $930.87 million. For the next year, analysts expect that the business will post sales of $931.73 million, with estimates ranging from $906.06 million to $954.43 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for ProAssurance.

ProAssurance (NYSE:PRA) last posted its quarterly earnings results on Tuesday, November 6th. The insurance provider reported $0.42 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.02. ProAssurance had a return on equity of 6.28% and a net margin of 9.70%. The firm had revenue of $249.33 million during the quarter, compared to the consensus estimate of $223.98 million. During the same quarter in the previous year, the business earned $0.45 earnings per share. The firm’s quarterly revenue was up 9.1% compared to the same quarter last year.

A number of analysts have recently weighed in on PRA shares. Zacks Investment Research upgraded ProAssurance from a “sell” rating to a “hold” rating in a research report on Wednesday. SunTrust Banks reduced their price objective on ProAssurance to $45.00 and set a “hold” rating for the company in a research note on Friday, December 14th. They noted that the move was a valuation call. Boenning Scattergood restated a “hold” rating on shares of ProAssurance in a report on Thursday, November 15th. Finally, JMP Securities increased their target price on ProAssurance from $50.00 to $52.00 and gave the company a “market outperform” rating in a report on Friday, September 21st. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $49.40.

Large investors have recently made changes to their positions in the stock. PNC Financial Services Group Inc. raised its holdings in ProAssurance by 95.2% during the third quarter. PNC Financial Services Group Inc. now owns 2,360 shares of the insurance provider’s stock valued at $111,000 after buying an additional 1,151 shares in the last quarter. Itau Unibanco Holding S.A. bought a new position in ProAssurance during the second quarter valued at about $137,000. CIBC Asset Management Inc bought a new position in ProAssurance during the third quarter valued at about $206,000. Neuberger Berman Group LLC bought a new position in ProAssurance during the third quarter valued at about $211,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in ProAssurance during the third quarter valued at about $240,000. Institutional investors and hedge funds own 84.24% of the company’s stock.

PRA traded up $0.17 on Friday, reaching $41.05. The company’s stock had a trading volume of 203,570 shares, compared to its average volume of 235,688. ProAssurance has a 1 year low of $34.95 and a 1 year high of $56.19. The company has a market capitalization of $2.18 billion, a P/E ratio of 20.32 and a beta of 0.66. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.35 and a current ratio of 0.35.

The company also recently disclosed a special dividend, which was paid on Wednesday, January 9th. Investors of record on Friday, December 21st were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Thursday, December 20th. This represents a dividend yield of 2.88%. ProAssurance’s dividend payout ratio is 61.39%.

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, and Lloyd's Syndicate segments. It offers professional liability insurance for healthcare professionals and facilities; professional liability insurance for attorneys; liability insurance for medical technology and life sciences risks; and workers' compensation insurance for employers, groups, and associations.

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