Recent Investment Analysts’ Ratings Updates for ProAssurance (PRA)

Several analysts have recently updated their ratings and price targets for ProAssurance (NYSE: PRA):

  • 3/9/2018 – ProAssurance was downgraded by analysts at TheStreet from a “b” rating to a “c+” rating.
  • 2/28/2018 – ProAssurance was upgraded by analysts at Raymond James Financial, Inc. from an “underperform” rating to a “market perform” rating.
  • 2/27/2018 – ProAssurance had its “hold” rating reaffirmed by analysts at Keefe, Bruyette & Woods. They now have a $55.00 price target on the stock.
  • 2/26/2018 – ProAssurance was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “strong sell” rating. According to Zacks, “ProAssurance’s shares have underperformed the industry in a year's time. Volatility in premium retention in the company’s physician business has impacted its margins adversely. While growing expenses also continue to weigh on the company’s bottom line, declining investment income has been affecting its top line. The company has also seen the Zacks Consensus Estimate for 2018 earnings being revised downward in the past seven days. However, the company's core business has been witnessing substantial improvement over the past few quarters. It has significantly achieved inorganic growth via successful acquisitions and integration of companies. The company’s top line has also remained consistently strong on the back of solid premium income. ProAssurance's fourth-quarter 2017 earnings missed the Zacks Consensus Estimate and declined year over year due to lower revenues.”
  • 2/22/2018 – ProAssurance had its “hold” rating reaffirmed by analysts at Boenning Scattergood. They wrote, “We anticipate some weakness in the shares today. The company is one of the more conservative insurers in the sector and has a long track record of building shareholder value (book value plus cumulative dividends), averaging 13% growth per year for the last 25 years. However, the stock is currently trading over 1.7x book versus the company’s long-term average of 1.4x. We also expect earnings to decline modestly over the next couple of years, largely the result of less favorable (albeit still very strong) prior year reserve development. As such, we believe investors should wait for a better opportunity to get into the stock and maintain our Neutral rating.””
  • 1/22/2018 – ProAssurance was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “ProAssurance’s core business has been witnessing substantial improvement over the past few quarters. The company has significantly achieved inorganic growth via successful acquisitions and integration of companies. Its top line has also remained strong consistently on the back of solid premium income. Although, the shares have underperformed the industry in a year's time, its solid fundamentals and other positives are expected to favor the stock going forward. Volatility in premium retention in its physician business has impacted its margins adversely. Growing expenses also continue to weigh on the bottom line. Its declining investment income has been affecting the top line.”

Shares of ProAssurance Co. (NYSE:PRA) traded down $0.25 during trading on Friday, reaching $49.50. The company’s stock had a trading volume of 104,039 shares, compared to its average volume of 210,630. The company has a market cap of $2,662.16, a P/E ratio of 24.87 and a beta of 0.59. The company has a quick ratio of 0.46, a current ratio of 0.46 and a debt-to-equity ratio of 0.26. ProAssurance Co. has a 12 month low of $46.90 and a 12 month high of $63.45.

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ProAssurance (NYSE:PRA) last announced its quarterly earnings data on Wednesday, February 21st. The insurance provider reported $0.55 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by ($0.07). The business had revenue of $209.12 million during 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 business’s revenue was down 12.0% compared to the same quarter last year. During the same period last year, the company earned $0.83 EPS. equities analysts anticipate that ProAssurance Co. will post 1.88 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 18th. Shareholders of record on Thursday, March 29th will be given a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 2.51%. The ex-dividend date is Wednesday, March 28th. ProAssurance’s dividend payout ratio (DPR) is presently 62.31%.

In other ProAssurance news, CEO William Stancil Starnes sold 25,896 shares of the company’s stock in a transaction on Friday, January 12th. The stock was sold at an average price of $55.01, for a total value of $1,424,538.96. Following the completion of the sale, the chief executive officer now directly owns 277,772 shares in the company, valued at approximately $15,280,237.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders 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 currently owned by corporate insiders.

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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