Wall Street brokerages expect ProAssurance Co. (NYSE:PRA) to announce sales of $216.04 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for ProAssurance’s earnings, with the highest sales estimate coming in at $218.30 million and the lowest estimate coming in at $212.53 million. ProAssurance reported sales of $207.91 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 3.9%. The firm is expected to report its next earnings report on Thursday, May 3rd.
According to Zacks, analysts expect that ProAssurance will report full-year sales of $216.04 million for the current fiscal year, with estimates ranging from $857.68 million to $886.70 million. For the next fiscal year, analysts forecast that the firm will report sales of $894.09 million per share, with estimates ranging from $872.28 million to $915.90 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow ProAssurance.
ProAssurance (NYSE:PRA) last released its quarterly earnings results on Wednesday, February 21st. The insurance provider reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.07). The company had revenue of $209.12 million during the quarter, compared to analysts’ expectations of $217.03 million. ProAssurance had a net margin of 12.38% and a return on equity of 6.11%. The company’s quarterly revenue was down 12.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.83 earnings per share.
ProAssurance (NYSE PRA) opened at $47.85 on Monday. The stock has a market capitalization of $2,557.92, a price-to-earnings ratio of 24.05 and a beta of 0.47. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.46 and a quick ratio of 0.40. ProAssurance has a 12 month low of $47.70 and a 12 month high of $63.45.
In other ProAssurance news, CEO William Stancil Starnes sold 25,896 shares of the company’s stock in a transaction on Friday, January 12th. The stock was sold at an average price of $55.01, for a total value of $1,424,538.96. Following the completion of the transaction, the chief executive officer now owns 277,772 shares in the company, valued at approximately $15,280,237.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 39,074 shares of company stock valued at $2,149,329 in the last 90 days. Corporate insiders own 1.80% of the company’s stock.
Several hedge funds have recently bought and sold shares of PRA. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of ProAssurance by 50.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,109 shares of the insurance provider’s stock worth $178,000 after acquiring an additional 1,042 shares during the period. Everence Capital Management Inc. bought a new position in shares of ProAssurance during the 4th quarter worth $202,000. FineMark National Bank & Trust bought a new position in shares of ProAssurance during the 3rd quarter worth $223,000. Larson Financial Group LLC bought a new position in shares of ProAssurance during the 4th quarter worth $223,000. Finally, Cubist Systematic Strategies LLC bought a new position in shares of ProAssurance during the 2nd quarter worth $227,000. Institutional investors own 81.24% of the company’s stock.
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ProAssurance Corporation (ProAssurance) 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.
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