StockNews.com Begins Coverage on ProAssurance (NYSE:PRA)

Research analysts at StockNews.com assumed coverage on shares of ProAssurance (NYSE:PRA) in a research note issued on Wednesday. The firm set a “hold” rating on the insurance provider’s stock.

PRA has been the topic of several other reports. Citizens Jmp cut shares of ProAssurance from an “outperform” rating to a “market perform” rating in a research note on Thursday, April 3rd. Citigroup downgraded ProAssurance to a “market perform” rating in a research report on Thursday, April 3rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $18.67.

ProAssurance Stock Up 0.0 %

ProAssurance stock opened at $23.18 on Wednesday. The firm has a market capitalization of $1.19 billion, a price-to-earnings ratio of 27.92 and a beta of -0.09. The firm has a 50 day simple moving average of $18.03 and a 200 day simple moving average of $16.49. ProAssurance has a 1-year low of $10.76 and a 1-year high of $23.70. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.35.

ProAssurance (NYSE:PRA) last issued its earnings results on Monday, February 24th. The insurance provider reported $0.36 EPS for the quarter, topping the consensus estimate of $0.17 by $0.19. ProAssurance had a return on equity of 2.65% and a net margin of 3.71%. The business had revenue of $287.52 million during the quarter, compared to the consensus estimate of $274.56 million. On average, analysts predict that ProAssurance will post 0.8 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wealthfront Advisers LLC purchased a new position in shares of ProAssurance during the fourth quarter worth approximately $359,000. Barclays PLC grew its holdings in shares of ProAssurance by 307.5% during the 3rd quarter. Barclays PLC now owns 85,117 shares of the insurance provider’s stock valued at $1,280,000 after purchasing an additional 64,228 shares during the last quarter. State Street Corp raised its position in ProAssurance by 1.8% in the 3rd quarter. State Street Corp now owns 1,968,754 shares of the insurance provider’s stock worth $29,610,000 after purchasing an additional 34,247 shares during the period. Amundi lifted its stake in ProAssurance by 182.3% in the fourth quarter. Amundi now owns 25,634 shares of the insurance provider’s stock worth $389,000 after purchasing an additional 16,552 shares during the last quarter. Finally, Prudential Financial Inc. boosted its position in ProAssurance by 57.3% during the fourth quarter. Prudential Financial Inc. now owns 86,703 shares of the insurance provider’s stock valued at $1,379,000 after buying an additional 31,580 shares during the period. 85.58% of the stock is currently owned by hedge funds and other institutional investors.

ProAssurance Company Profile

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.