Analysts Set ProAssurance Co. (NYSE:PRA) PT at $18.67

Shares of ProAssurance Co. (NYSE:PRA) have received an average recommendation of “Hold” from the six brokerages that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $21.00.

Several brokerages recently issued reports on PRA. Citigroup downgraded ProAssurance to a “market perform” rating in a research note on Thursday, April 3rd. Citizens Jmp downgraded shares of ProAssurance from an “outperform” rating to a “market perform” rating in a report on Thursday, April 3rd. StockNews.com began coverage on shares of ProAssurance in a research note on Saturday, May 3rd. They set a “hold” rating for the company. Piper Sandler increased their price objective on shares of ProAssurance from $18.00 to $25.00 and gave the company a “neutral” rating in a report on Thursday. Finally, Raymond James cut ProAssurance from a “market perform” rating to an “underperform” rating in a report on Thursday, April 10th.

ProAssurance Stock Performance

PRA opened at $22.92 on Friday. The company has a 50 day simple moving average of $21.32 and a two-hundred day simple moving average of $17.60. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.28 and a quick ratio of 0.28. The firm has a market cap of $1.17 billion, a P/E ratio of 27.61 and a beta of 0.04. ProAssurance has a 1-year low of $10.76 and a 1-year high of $23.70.

ProAssurance (NYSE:PRA) last issued its earnings results on Tuesday, May 6th. The insurance provider reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.06). ProAssurance had a return on equity of 2.65% and a net margin of 3.71%. The firm had revenue of $236.28 million during the quarter, compared to the consensus estimate of $272.85 million. During the same period in the prior year, the company posted $0.08 EPS. The company’s quarterly revenue was down 4.5% on a year-over-year basis. Equities analysts forecast that ProAssurance will post 0.8 earnings per share for the current fiscal year.

Institutional Trading of ProAssurance

A number of large investors have recently made changes to their positions in the business. Wealthfront Advisers LLC purchased a new position in ProAssurance in the fourth quarter worth about $359,000. Amundi lifted its position in ProAssurance by 182.3% in the fourth quarter. Amundi now owns 25,634 shares of the insurance provider’s stock worth $389,000 after buying an additional 16,552 shares during the last quarter. Prudential Financial Inc. boosted its stake in ProAssurance by 57.3% during the fourth quarter. Prudential Financial Inc. now owns 86,703 shares of the insurance provider’s stock worth $1,379,000 after buying an additional 31,580 shares during the period. American Century Companies Inc. increased its position in ProAssurance by 17.2% during the fourth quarter. American Century Companies Inc. now owns 391,609 shares of the insurance provider’s stock valued at $6,230,000 after acquiring an additional 57,556 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of ProAssurance by 28.0% in the fourth quarter. JPMorgan Chase & Co. now owns 323,955 shares of the insurance provider’s stock valued at $5,154,000 after acquiring an additional 70,780 shares during the period. 85.58% of the stock is currently owned by institutional investors.

About ProAssurance

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.