ProAssurance (NYSE:PRA) released its quarterly earnings results on Wednesday. The insurance provider reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.07), Bloomberg Earnings reports. The company had revenue of $209.12 million for the quarter, compared to the consensus estimate of $217.03 million. ProAssurance had a return on equity of 6.75% and a net margin of 16.18%. The business’s revenue was down 12.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.83 EPS.
Shares of ProAssurance (NYSE:PRA) opened at $51.95 on Thursday. ProAssurance has a 52 week low of $50.35 and a 52 week high of $63.45. The firm has a market capitalization of $2,766.91, a P/E ratio of 19.31 and a beta of 0.47. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.40 and a current ratio of 0.40.
Several analysts have recently issued reports on the company. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $61.00 price target on shares of ProAssurance in a research note on Wednesday, December 6th. Zacks Investment Research upgraded ProAssurance from a “hold” rating to a “buy” rating and set a $68.00 price target for the company in a research note on Wednesday, December 13th. Finally, Boenning Scattergood reiterated a “hold” rating on shares of ProAssurance in a research note on Tuesday, November 7th. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $59.33.
In related news, Chairman William Stancil Starnes sold 2,442 shares of the stock in a transaction that occurred on Wednesday, January 10th. The stock was sold at an average price of $55.00, for a total transaction of $134,310.00. Following the completion of the sale, the chairman now owns 324,895 shares in the company, valued at approximately $17,869,225. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In the last 90 days, insiders have sold 39,074 shares of company stock valued at $2,149,329. 1.80% of the stock is owned by corporate insiders.
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ProAssurance Company Profile
ProAssurance Corporation (ProAssurance) is a holding company for property and casualty insurance companies. The Company provides 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.
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