Shares of ProAssurance Corp. (NYSE:PRA) have received a consensus broker rating score of 2.33 (Buy) from the three analysts that cover the stock, Zacks Investment Research reports. Two research analysts have rated the stock with a hold recommendation and one has assigned a strong buy recommendation to the company.
Analysts have set a twelve-month consensus price objective of $62.00 for the company and are expecting that the company will post $0.60 EPS for the current quarter, according to Zacks. Zacks has also assigned ProAssurance Corp. an industry rank of 194 out of 265 based on the ratings given to related companies.
PRA has been the subject of a number of recent research reports. Zacks Investment Research upgraded ProAssurance Corp. from a “hold” rating to a “buy” rating and set a $58.00 price objective for the company in a research report on Monday, July 11th. JMP Securities lifted their price target on ProAssurance Corp. to $57.00 and gave the company an “outperform” rating in a report on Monday, June 13th.
ProAssurance Corp. (NYSE:PRA) opened at 54.20 on Wednesday. The firm has a market cap of $2.88 billion, a PE ratio of 26.97 and a beta of 0.45. The firm has a 50-day moving average of $53.45 and a 200-day moving average of $51.58. ProAssurance Corp. has a 52-week low of $45.78 and a 52-week high of $55.43.
ProAssurance Corp. (NYSE:PRA) last released its quarterly earnings results on Wednesday, August 3rd. The company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.10. The business earned $214.80 million during the quarter, compared to the consensus estimate of $202.70 million. ProAssurance Corp. had a return on equity of 7.65% and a net margin of 16.40%. The business’s revenue was up 5.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.64 EPS. Equities analysts anticipate that ProAssurance Corp. will post $2.40 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, October 7th. Stockholders of record on Wednesday, September 28th were issued a $0.31 dividend. The ex-dividend date was Monday, September 26th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.29%. ProAssurance Corp.’s dividend payout ratio (DPR) is 61.69%.
Large investors have recently modified their holdings of the stock. LS Investment Advisors LLC increased its stake in shares of ProAssurance Corp. by 3.7% in the second quarter. LS Investment Advisors LLC now owns 1,882 shares of the company’s stock worth $101,000 after buying an additional 67 shares during the period. Advisor Group Inc. bought a new position in shares of ProAssurance Corp. during the second quarter worth approximately $121,000. O Shaughnessy Asset Management LLC increased its position in shares of ProAssurance Corp. by 0.7% in the second quarter. O Shaughnessy Asset Management LLC now owns 2,273 shares of the company’s stock worth $122,000 after buying an additional 15 shares during the last quarter. Independent Portfolio Consultants Inc. bought a new position in shares of ProAssurance Corp. during the third quarter worth approximately $186,000. Finally, Quadrant Capital Management LLC bought a new position in shares of ProAssurance Corp. during the second quarter worth approximately $202,000. Institutional investors and hedge funds own 80.78% of the company’s stock.
About ProAssurance Corp.
ProAssurance Corporation is a holding company for property and casualty insurance companies. The Company provides 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 more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for ProAssurance Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ProAssurance Corp. and related companies with MarketBeat.com's FREE daily email newsletter.