ProAssurance Co. (NYSE:PRA – Get Free Report)’s stock price gapped down prior to trading on Monday after Piper Sandler lowered their price target on the stock from $19.00 to $16.00. The stock had previously closed at $13.24, but opened at $12.97. Piper Sandler currently has an overweight rating on the stock. ProAssurance shares last traded at $12.96, with a volume of 17,629 shares changing hands.
A number of other brokerages have also weighed in on PRA. Truist Financial lowered their price target on shares of ProAssurance from $20.00 to $15.00 and set a “hold” rating for the company in a report on Friday, November 10th. StockNews.com initiated coverage on ProAssurance in a report on Thursday, October 5th. They set a “hold” rating for the company.
Institutional Investors Weigh In On ProAssurance
ProAssurance Price Performance
The company has a market cap of $663.63 million, a P/E ratio of -21.63 and a beta of 0.39. The company’s 50-day moving average price is $17.43 and its 200-day moving average price is $16.31. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.28 and a quick ratio of 0.28.
ProAssurance (NYSE:PRA – Get Free Report) last posted its quarterly earnings data on Wednesday, November 8th. The insurance provider reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.22). ProAssurance had a negative net margin of 2.73% and a positive return on equity of 0.02%. The business had revenue of $275.75 million during the quarter, compared to analyst estimates of $241.12 million. During the same quarter last year, the business earned ($0.06) earnings per share. ProAssurance’s revenue for the quarter was up 1.0% on a year-over-year basis. As a group, sell-side analysts predict that ProAssurance Co. will post 0.13 earnings per share for the current fiscal year.
ProAssurance Company Profile
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, Segregated Portfolio Cell Reinsurance, and Lloyd's Syndicates segments.
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