ProAssurance Co. (NYSE:PRA) Receives Average Rating of “Moderate Buy” from Analysts

ProAssurance Co. (NYSE:PRAGet Free Report) has received a consensus rating of “Moderate Buy” from the four brokerages that are currently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $19.00.

A number of research analysts recently weighed in on PRA shares. Truist Financial cut their price objective on ProAssurance from $20.00 to $15.00 and set a “hold” rating on the stock in a research note on Friday, November 10th. JMP Securities dropped their price target on ProAssurance from $25.00 to $24.00 and set a “market outperform” rating on the stock in a research report on Wednesday, January 17th. Piper Sandler dropped their price target on ProAssurance from $19.00 to $16.00 and set an “overweight” rating on the stock in a research report on Monday, November 20th. Finally, TheStreet downgraded ProAssurance from a “c-” rating to a “d+” rating in a research report on Wednesday, December 6th.

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Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. MetLife Investment Management LLC grew its holdings in shares of ProAssurance by 53.6% during the 1st quarter. MetLife Investment Management LLC now owns 29,342 shares of the insurance provider’s stock worth $789,000 after purchasing an additional 10,245 shares in the last quarter. Panagora Asset Management Inc. grew its holdings in shares of ProAssurance by 19.3% during the 1st quarter. Panagora Asset Management Inc. now owns 47,292 shares of the insurance provider’s stock worth $1,271,000 after purchasing an additional 7,653 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in shares of ProAssurance by 14.1% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 46,539 shares of the insurance provider’s stock worth $1,251,000 after purchasing an additional 5,738 shares in the last quarter. Great West Life Assurance Co. Can grew its holdings in shares of ProAssurance by 1.3% during the 1st quarter. Great West Life Assurance Co. Can now owns 46,823 shares of the insurance provider’s stock worth $1,291,000 after purchasing an additional 591 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of ProAssurance by 7.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,582,436 shares of the insurance provider’s stock worth $42,535,000 after purchasing an additional 111,196 shares in the last quarter. 85.14% of the stock is owned by institutional investors.

ProAssurance Trading Up 1.3 %

Shares of NYSE PRA opened at $13.08 on Friday. ProAssurance has a one year low of $11.87 and a one year high of $20.01. The firm has a market capitalization of $666.67 million, a PE ratio of -21.80 and a beta of 0.25. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.42. The business has a 50-day moving average price of $13.31 and a two-hundred day moving average price of $15.68.

ProAssurance (NYSE:PRAGet Free Report) last announced its quarterly earnings results on Wednesday, November 8th. The insurance provider reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.22). The firm had revenue of $275.75 million for the quarter, compared to analyst estimates of $241.12 million. ProAssurance had a negative net margin of 2.73% and a positive return on equity of 0.02%. The firm’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.06) earnings per share. As a group, analysts predict that ProAssurance will post -0.03 earnings per share for the current fiscal year.

ProAssurance Company Profile

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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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