ProAssurance Co. (PRA) Receives $49.33 Consensus Target Price from Analysts

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ProAssurance Co. (NYSE:PRA) has been given a consensus rating of “Hold” by the nine ratings firms that are covering the stock, MarketBeat.com reports. Seven equities research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $49.33.

PRA has been the topic of several research analyst reports. Boenning Scattergood reiterated a “hold” rating on shares of ProAssurance in a report on Wednesday, August 8th. Zacks Investment Research upgraded ProAssurance from a “hold” rating to a “buy” rating and set a $54.00 price target on the stock in a report on Tuesday, September 11th. ValuEngine upgraded ProAssurance from a “sell” rating to a “hold” rating in a report on Wednesday, August 15th. JMP Securities upped their price target on ProAssurance from $50.00 to $52.00 and gave the stock a “market outperform” rating in a report on Friday, September 21st. Finally, Sandler O’Neill restated a “hold” rating and set a $44.00 price target on shares of ProAssurance in a report on Thursday, August 9th.

Shares of PRA stock traded down $0.61 on Monday, hitting $44.11. The stock had a trading volume of 207,576 shares, compared to its average volume of 207,153. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $2.48 billion, a PE ratio of 21.84 and a beta of 0.69. ProAssurance has a 1 year low of $34.95 and a 1 year high of $63.45.

ProAssurance (NYSE:PRA) last posted its quarterly earnings data on Tuesday, November 6th. The insurance provider reported $0.42 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.02. The firm had revenue of $249.33 million for the quarter, compared to the consensus estimate of $223.98 million. ProAssurance had a return on equity of 6.28% and a net margin of 9.70%. The company’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.45 EPS. Research analysts predict that ProAssurance will post 1.84 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the business. Dimensional Fund Advisors LP increased its holdings in ProAssurance by 11.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,029,596 shares of the insurance provider’s stock worth $71,950,000 after purchasing an additional 209,147 shares during the period. Bank of New York Mellon Corp increased its holdings in ProAssurance by 7.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 669,796 shares of the insurance provider’s stock worth $23,744,000 after purchasing an additional 46,762 shares during the period. Tower Research Capital LLC TRC increased its holdings in ProAssurance by 92.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 8,131 shares of the insurance provider’s stock worth $288,000 after purchasing an additional 3,898 shares during the period. Ramsey Quantitative Systems boosted its position in shares of ProAssurance by 57.7% during the 3rd quarter. Ramsey Quantitative Systems now owns 9,735 shares of the insurance provider’s stock worth $457,000 after acquiring an additional 3,560 shares in the last quarter. Finally, Millennium Management LLC boosted its position in shares of ProAssurance by 41.1% during the 1st quarter. Millennium Management LLC now owns 29,364 shares of the insurance provider’s stock worth $1,426,000 after acquiring an additional 8,558 shares in the last quarter. Institutional investors own 84.94% 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, and Lloyd's Syndicate segments. It offers 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 employers, groups, and associations.

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Analyst Recommendations for ProAssurance (NYSE:PRA)

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