ProAssurance (NYSE:PRA) Posts Quarterly Earnings Results, Beats Estimates By $0.60 EPS

ProAssurance (NYSE:PRA) posted its quarterly earnings results on Monday. The insurance provider reported $0.82 EPS for the quarter, beating the consensus estimate of $0.22 by $0.60, FiscalAI reports. The company had revenue of $269.64 million for the quarter, compared to analyst estimates of $261.08 million. ProAssurance had a net margin of 3.01% and a return on equity of 4.78%.

ProAssurance Stock Down 0.3%

ProAssurance stock opened at $24.42 on Tuesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.28 and a quick ratio of 0.28. The stock has a market capitalization of $1.26 billion, a PE ratio of 37.56 and a beta of 0.09. The business has a 50 day simple moving average of $24.23 and a 200-day simple moving average of $24.06. ProAssurance has a 12 month low of $13.90 and a 12 month high of $24.66.

Institutional Investors Weigh In On ProAssurance

Several institutional investors and hedge funds have recently added to or reduced their stakes in PRA. Inspire Investing LLC raised its position in ProAssurance by 3.0% during the fourth quarter. Inspire Investing LLC now owns 19,386 shares of the insurance provider’s stock worth $468,000 after acquiring an additional 569 shares during the period. LPL Financial LLC increased its stake in shares of ProAssurance by 7.6% during the fourth quarter. LPL Financial LLC now owns 10,616 shares of the insurance provider’s stock worth $256,000 after purchasing an additional 747 shares in the last quarter. Jane Street Group LLC raised its position in shares of ProAssurance by 1.2% during the 2nd quarter. Jane Street Group LLC now owns 73,834 shares of the insurance provider’s stock worth $1,686,000 after purchasing an additional 890 shares during the last quarter. Illinois Municipal Retirement Fund raised its position in shares of ProAssurance by 3.5% during the 4th quarter. Illinois Municipal Retirement Fund now owns 27,993 shares of the insurance provider’s stock worth $676,000 after purchasing an additional 948 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its stake in ProAssurance by 22.8% in the 2nd quarter. BNP Paribas Financial Markets now owns 5,679 shares of the insurance provider’s stock valued at $130,000 after buying an additional 1,056 shares in the last quarter. Hedge funds and other institutional investors own 85.58% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Wall Street Zen upgraded ProAssurance to a “sell” rating in a research note on Saturday, November 22nd. Zacks Research lowered ProAssurance from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 5th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of ProAssurance in a research note on Thursday, January 22nd. Five equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus price target of $25.00.

ProAssurance Company Profile

ProAssurance Corporation is a specialty property and casualty insurance holding company headquartered in Birmingham, Alabama. The company focuses primarily on professional liability coverage for healthcare providers, including physicians, surgeons, dentists and allied health professionals. ProAssurance operates through a group of insurance subsidiaries that underwrite both occurrence- and claims-made policies tailored to the unique risks faced by the medical community.

In addition to professional liability insurance, ProAssurance offers a suite of complementary property and casualty products, such as general liability, workers’ compensation, property and inland marine, and umbrella coverage.