ProAssurance (NYSE:PRA) Lowered to Hold Rating by StockNews.com

StockNews.com downgraded shares of ProAssurance (NYSE:PRA) from a buy rating to a hold rating in a research report report published on Friday.

ProAssurance Price Performance

ProAssurance stock opened at $23.14 on Friday. The company’s 50 day simple moving average is $15.40 and its 200-day simple moving average is $15.39. The company has a market capitalization of $1.18 billion, a price-to-earnings ratio of 27.88 and a beta of 0.21. ProAssurance has a 1 year low of $10.76 and a 1 year high of $23.29. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.28 and a current ratio of 0.28.

ProAssurance (NYSE:PRA) last released its quarterly earnings results on Monday, February 24th. The insurance provider reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.19. The business had revenue of $287.52 million for the quarter, compared to the consensus estimate of $274.56 million. ProAssurance had a net margin of 3.71% and a return on equity of 2.65%. As a group, equities research analysts expect that ProAssurance will post 0.8 earnings per share for the current year.

Institutional Investors Weigh In On ProAssurance

Institutional investors and hedge funds have recently made changes to their positions in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in ProAssurance by 10.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 157,977 shares of the insurance provider’s stock worth $2,513,000 after buying an additional 15,542 shares during the period. ProShare Advisors LLC increased its stake in ProAssurance by 44.4% during the 4th quarter. ProShare Advisors LLC now owns 15,354 shares of the insurance provider’s stock worth $244,000 after buying an additional 4,723 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in ProAssurance by 4.0% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,991 shares of the insurance provider’s stock worth $461,000 after buying an additional 1,127 shares during the period. Lighthouse Investment Partners LLC increased its stake in ProAssurance by 243.5% during the 4th quarter. Lighthouse Investment Partners LLC now owns 111,766 shares of the insurance provider’s stock worth $1,778,000 after buying an additional 79,226 shares during the period. Finally, Janus Henderson Group PLC increased its stake in ProAssurance by 2,655.2% during the 4th quarter. Janus Henderson Group PLC now owns 645,358 shares of the insurance provider’s stock worth $10,268,000 after buying an additional 621,935 shares during the period. 85.58% of the stock is owned by hedge funds and other institutional investors.

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 Insurance, and Segregated Portfolio Cell Reinsurance segments. It offers professional liability insurance to healthcare providers and institutions, and attorneys and their firms; medical technology liability insurance to medical technology and life sciences companies; and custom alternative risk solutions, including assumed reinsurance, loss portfolio transfers, and captive cell programs for healthcare professional liability insureds.