$217.62 Million in Sales Expected for ProAssurance Co. (PRA) This Quarter

Equities analysts predict that ProAssurance Co. (NYSE:PRA) will announce sales of $217.62 million for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for ProAssurance’s earnings, with estimates ranging from $215.48 million to $219.09 million. ProAssurance posted sales of $207.91 million in the same quarter last year, which would indicate a positive year over year growth rate of 4.7%. The company is expected to issue its next earnings report after the market closes on Thursday, May 3rd.

On average, analysts expect that ProAssurance will report full-year sales of $217.62 million for the current financial year, with estimates ranging from $872.22 million to $888.68 million. For the next financial year, analysts expect that the business will report sales of $910.60 million per share, with estimates ranging from $886.57 million to $929.33 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that that provide coverage for ProAssurance.

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ProAssurance (NYSE:PRA) last posted its quarterly earnings data on Wednesday, February 21st. The insurance provider reported $0.55 EPS for the quarter, missing the Zacks’ consensus estimate of $0.62 by ($0.07). The business 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 firm’s quarterly revenue was down 12.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.83 earnings per share.

A number of analysts have recently commented on the company. Sandler O’Neill restated a “hold” rating and issued a $50.00 price objective on shares of ProAssurance in a research report on Friday. Raymond James Financial upgraded ProAssurance from an “underperform” rating to a “market perform” rating in a research report on Wednesday, February 28th. Zacks Investment Research upgraded ProAssurance from a “hold” rating to a “buy” rating and set a $63.00 price target for the company in a research report on Friday, January 5th. TheStreet cut ProAssurance from a “b” rating to a “c+” rating in a research report on Friday, March 9th. Finally, SunTrust Banks cut ProAssurance from a “buy” rating to a “hold” rating in a research report on Wednesday. Two research analysts have rated the stock with a sell rating and six have given a hold rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $55.50.

Shares of ProAssurance stock traded down $0.60 on Friday, reaching $46.15. The company’s stock had a trading volume of 275,665 shares, compared to its average volume of 212,875. The stock has a market capitalization of $2,467.04, a PE ratio of 22.85 and a beta of 0.56. ProAssurance has a 52-week low of $45.25 and a 52-week high of $63.45. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.46 and a quick ratio of 0.46.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 18th. Investors of record on Thursday, March 29th will be given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 2.69%. The ex-dividend date is Wednesday, March 28th. ProAssurance’s payout ratio is 61.39%.

In related news, CEO William Stancil Starnes sold 25,896 shares of the business’s stock in a transaction that occurred on Friday, January 12th. The stock was sold at an average price of $55.01, for a total transaction of $1,424,538.96. Following the completion of the sale, the chief executive officer now directly owns 277,772 shares in the company, valued at $15,280,237.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 39,074 shares of company stock valued at $2,149,329 over the last quarter. 1.80% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PRA. Carillon Tower Advisers Inc. acquired a new position in ProAssurance during the fourth quarter worth $37,292,000. BlackRock Inc. boosted its stake in ProAssurance by 3.1% during the fourth quarter. BlackRock Inc. now owns 5,573,593 shares of the insurance provider’s stock worth $318,531,000 after buying an additional 169,585 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in ProAssurance during the fourth quarter worth $8,281,000. Wells Fargo & Company MN boosted its stake in ProAssurance by 10.7% during the third quarter. Wells Fargo & Company MN now owns 1,313,376 shares of the insurance provider’s stock worth $71,777,000 after buying an additional 127,382 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its stake in ProAssurance by 6.3% during the fourth quarter. Victory Capital Management Inc. now owns 1,563,210 shares of the insurance provider’s stock worth $89,338,000 after buying an additional 93,160 shares during the last quarter. 82.60% of the stock is currently owned by institutional investors.

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ProAssurance Company Profile

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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Earnings History and Estimates for ProAssurance (NYSE:PRA)

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