ProAssurance (NYSE:PRA) Now Covered by StockNews.com

StockNews.com assumed coverage on shares of ProAssurance (NYSE:PRA) in a research report report published on Thursday morning. The firm issued a hold rating on the insurance provider’s stock.

A number of other analysts have also recently commented on the company. Citizens Jmp cut ProAssurance from an “outperform” rating to a “market perform” rating in a research report on Thursday, April 3rd. Raymond James cut shares of ProAssurance from a “market perform” rating to an “underperform” rating in a research report on Thursday, April 10th. Finally, Citigroup lowered shares of ProAssurance to a “market perform” rating in a research report on Thursday, April 3rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $18.67.

ProAssurance Trading Down 0.6 %

ProAssurance stock opened at $23.16 on Thursday. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.35. The firm has a market cap of $1.18 billion, a PE ratio of 27.90 and a beta of -0.09. The stock’s 50 day simple moving average is $18.87 and its two-hundred day simple moving average is $16.77. ProAssurance has a 12 month low of $10.76 and a 12 month high of $23.70.

ProAssurance (NYSE:PRA) last released its quarterly earnings data on Monday, February 24th. The insurance provider reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.19. ProAssurance had a net margin of 3.71% and a return on equity of 2.65%. The company had revenue of $287.52 million during the quarter, compared to analysts’ expectations of $274.56 million. Analysts anticipate that ProAssurance will post 0.8 earnings per share for the current year.

Institutional Investors Weigh In On ProAssurance

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Mariner LLC lifted its stake in shares of ProAssurance by 4.2% in the fourth quarter. Mariner LLC now owns 17,007 shares of the insurance provider’s stock worth $271,000 after buying an additional 688 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in ProAssurance by 4.0% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,991 shares of the insurance provider’s stock worth $461,000 after purchasing an additional 1,127 shares in the last quarter. Rhumbline Advisers boosted its holdings in shares of ProAssurance by 0.8% during the 4th quarter. Rhumbline Advisers now owns 160,707 shares of the insurance provider’s stock worth $2,557,000 after purchasing an additional 1,281 shares during the last quarter. Sterling Capital Management LLC grew its position in shares of ProAssurance by 859.4% in the fourth quarter. Sterling Capital Management LLC now owns 1,631 shares of the insurance provider’s stock valued at $26,000 after purchasing an additional 1,461 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of ProAssurance by 307.3% in the first quarter. GAMMA Investing LLC now owns 2,073 shares of the insurance provider’s stock valued at $48,000 after purchasing an additional 1,564 shares during the last quarter. Institutional investors and hedge funds own 85.58% of the company’s stock.

About ProAssurance

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.