ProAssurance Co. (NYSE:PRA) – Investment analysts at Boenning Scattergood lowered their Q1 2018 EPS estimates for ProAssurance in a research note issued on Thursday. Boenning Scattergood analyst R. Farnam now expects that the insurance provider will post earnings of $0.46 per share for the quarter, down from their previous forecast of $0.48. Boenning Scattergood currently has a “Hold” rating on the stock. Boenning Scattergood also issued estimates for ProAssurance’s Q2 2018 earnings at $0.44 EPS, Q3 2018 earnings at $0.44 EPS, Q1 2019 earnings at $0.45 EPS, Q2 2019 earnings at $0.43 EPS, Q3 2019 earnings at $0.42 EPS and Q4 2019 earnings at $0.60 EPS.
ProAssurance (NYSE:PRA) last announced its earnings results on Wednesday, February 21st. The insurance provider reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.07). The business had revenue of $209.12 million for the quarter, compared to the consensus estimate of $217.03 million. ProAssurance had a net margin of 12.38% and a return on equity of 6.11%. The firm’s revenue was down 12.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.83 EPS.
Several other brokerages also recently weighed in on PRA. Zacks Investment Research downgraded ProAssurance from a “buy” rating to a “hold” rating in a research note on Thursday, January 4th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $61.00 target price on shares of ProAssurance in a research note on Wednesday, December 6th. One analyst has rated the stock with a sell rating and four have given a hold rating to the stock. ProAssurance presently has an average rating of “Hold” and an average price target of $59.33.
Shares of ProAssurance (NYSE:PRA) opened at $47.85 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.40 and a current ratio of 0.46. The firm has a market capitalization of $2,579.30, a price-to-earnings ratio of 24.05 and a beta of 0.47. ProAssurance has a 12 month low of $47.70 and a 12 month high of $63.45.
Several institutional investors and hedge funds have recently bought and sold shares of PRA. HighTower Advisors LLC bought a new stake in shares of ProAssurance in the 2nd quarter worth $226,000. Cubist Systematic Strategies LLC bought a new stake in shares of ProAssurance in the 2nd quarter worth $227,000. Verition Fund Management LLC bought a new stake in shares of ProAssurance in the 2nd quarter worth $211,000. Public Employees Retirement System of Ohio raised its stake in shares of ProAssurance by 1.0% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 27,744 shares of the insurance provider’s stock worth $1,687,000 after buying an additional 268 shares in the last quarter. Finally, First Trust Advisors LP raised its stake in shares of ProAssurance by 165.0% in the 3rd quarter. First Trust Advisors LP now owns 160,436 shares of the insurance provider’s stock worth $8,768,000 after buying an additional 99,905 shares in the last quarter. 81.24% of the stock is currently owned by institutional investors.
In other ProAssurance news, Chairman William Stancil Starnes sold 2,442 shares of ProAssurance stock in a transaction 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 sale, the chairman now owns 324,895 shares of the company’s stock, valued at approximately $17,869,225. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 39,074 shares of company stock worth $2,149,329 in the last ninety days. 1.80% of the stock is owned by company 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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