ProAssurance Co. (NYSE:PRA) has received an average rating of “Hold” from the nine analysts that are presently covering the firm, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1-year target price among brokers that have covered the stock in the last year is $49.33.
PRA has been the topic of a number of research reports. Boenning Scattergood reiterated a “hold” rating on shares of ProAssurance in a report on Wednesday, August 8th. Zacks Investment Research raised ProAssurance from a “hold” rating to a “buy” rating and set a $54.00 price target for the company in a research note on Tuesday, September 11th. ValuEngine raised ProAssurance from a “sell” rating to a “hold” rating in a research note on Wednesday, August 15th. JMP Securities boosted their price target on ProAssurance from $50.00 to $52.00 and gave the company a “market outperform” rating in a research note on Friday, September 21st. Finally, Sandler O’Neill reissued a “hold” rating and issued a $44.00 price target on shares of ProAssurance in a research note on Thursday, August 9th.
Shares of PRA traded down $1.76 during trading hours on Friday, reaching $42.23. The company’s stock had a trading volume of 239,360 shares, compared to its average volume of 197,099. The company has a market capitalization of $2.35 billion, a price-to-earnings ratio of 20.91 and a beta of 0.66. ProAssurance has a 1-year low of $34.95 and a 1-year high of $63.45. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.35 and a quick ratio of 0.35.
ProAssurance (NYSE:PRA) last issued its earnings results on Tuesday, November 6th. The insurance provider reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.02. The company had revenue of $249.33 million for the quarter, compared to the consensus estimate of $223.98 million. ProAssurance had a return on equity of 6.28% and a net margin of 9.70%. The firm’s quarterly revenue was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.45 EPS. Equities research analysts expect that ProAssurance will post 1.72 earnings per share for the current fiscal year.
The company also recently declared a special dividend, which will be paid on Wednesday, January 9th. Investors of record on Friday, December 21st will be paid a $0.50 dividend. The ex-dividend date of this dividend is Thursday, December 20th. This represents a dividend yield of 2.88%. ProAssurance’s payout ratio is 61.39%.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Millennium Management LLC boosted its position in ProAssurance by 41.1% during the first quarter. Millennium Management LLC now owns 29,364 shares of the insurance provider’s stock worth $1,426,000 after purchasing an additional 8,558 shares during the period. Principal Financial Group Inc. boosted its position in ProAssurance by 2.3% during the first quarter. Principal Financial Group Inc. now owns 414,055 shares of the insurance provider’s stock worth $20,102,000 after purchasing an additional 9,172 shares during the period. Xact Kapitalforvaltning AB boosted its position in ProAssurance by 22.5% during the second quarter. Xact Kapitalforvaltning AB now owns 8,723 shares of the insurance provider’s stock worth $309,000 after purchasing an additional 1,600 shares during the period. Aperio Group LLC boosted its position in ProAssurance by 30.6% during the second quarter. Aperio Group LLC now owns 82,702 shares of the insurance provider’s stock worth $2,932,000 after purchasing an additional 19,391 shares during the period. Finally, Los Angeles Capital Management & Equity Research Inc. boosted its position in ProAssurance by 66.2% during the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 181,572 shares of the insurance provider’s stock worth $6,437,000 after purchasing an additional 72,305 shares during the period. 87.43% of the stock is owned by institutional investors and hedge funds.
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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