ProAssurance (NYSE:PRA) Earns Hold Rating from Analysts at StockNews.com

by · The Markets Daily

StockNews.com began coverage on shares of ProAssurance (NYSE:PRA – Free Report) in a research note issued to investors on Wednesday. The firm issued a hold rating on the insurance provider’s stock.

Several other equities research analysts have also recently issued reports on PRA. Citizens Jmp cut shares of ProAssurance from an “outperform” rating to a “market perform” rating in a research report on Thursday, April 3rd. Citigroup lowered ProAssurance to a “market perform” rating in a research report on Thursday, April 3rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $18.67.

Check Out Our Latest Report on PRA

ProAssurance Stock Up 0.6 %

NYSE PRA opened at $23.29 on Wednesday. The stock’s 50-day moving average price is $18.20 and its 200-day moving average price is $16.55. The company has a market capitalization of $1.19 billion, a P/E ratio of 28.05 and a beta of -0.09. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.35. ProAssurance has a 52 week low of $10.76 and a 52 week high of $23.70.

ProAssurance (NYSE:PRA – Get Free Report) last issued its quarterly earnings results on Monday, February 24th. The insurance provider reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.19. The business had revenue of $287.52 million for the quarter, compared to the consensus estimate of $274.56 million. ProAssurance had a net margin of 3.71% and a return on equity of 2.65%. On average, equities research analysts predict that ProAssurance will post 0.8 earnings per share for the current year.

Institutional Trading of ProAssurance

Hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC boosted its holdings in shares of ProAssurance by 9,409.8% in the 1st quarter. GAMMA Investing LLC now owns 48,405 shares of the insurance provider’s stock worth $1,130,000 after purchasing an additional 47,896 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in ProAssurance by 10.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 157,977 shares of the insurance provider’s stock worth $2,513,000 after buying an additional 15,542 shares during the last quarter. ProShare Advisors LLC boosted its stake in ProAssurance by 44.4% during the fourth quarter. ProShare Advisors LLC now owns 15,354 shares of the insurance provider’s stock worth $244,000 after buying an additional 4,723 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in ProAssurance by 4.0% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,991 shares of the insurance provider’s stock valued at $461,000 after acquiring an additional 1,127 shares during the last quarter. Finally, Lighthouse Investment Partners LLC raised its stake in shares of ProAssurance by 243.5% in the fourth quarter. Lighthouse Investment Partners LLC now owns 111,766 shares of the insurance provider’s stock valued at $1,778,000 after acquiring an additional 79,226 shares during the period. 85.58% of the stock is currently owned by hedge funds and other institutional investors.

ProAssurance Company Profile

(Get Free Report)

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, and Segregated Portfolio Cell Reinsurance segments. It offers professional liability insurance to healthcare providers and institutions, and attorneys and their firms; medical technology liability insurance to medical technology and life sciences companies; and custom alternative risk solutions, including assumed reinsurance, loss portfolio transfers, and captive cell programs for healthcare professional liability insureds.

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