ProAssurance Corporation (NYSE:PRA) has been given an average recommendation of “Hold” by the six ratings firms that are presently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating and four have given a hold rating to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $58.33.
A number of research firms have weighed in on PRA. Buckingham Research began coverage on shares of ProAssurance Corporation in a research note on Monday. They issued a “neutral” rating and a $54.00 target price on the stock. Boenning Scattergood reissued a “hold” rating on shares of ProAssurance Corporation in a research note on Tuesday, August 8th. Zacks Investment Research lowered shares of ProAssurance Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, August 2nd. BidaskClub lowered shares of ProAssurance Corporation from a “sell” rating to a “strong sell” rating in a research note on Monday, July 31st. Finally, Keefe, Bruyette & Woods began coverage on shares of ProAssurance Corporation in a research note on Monday, July 17th. They issued a “market perform” rating and a $61.00 target price on the stock.
In other news, insider Edward Lewis Rand, Jr. sold 3,155 shares of ProAssurance Corporation stock in a transaction that occurred on Monday, June 26th. The shares were sold at an average price of $60.11, for a total transaction of $189,647.05. Following the sale, the insider now owns 120,014 shares of the company’s stock, valued at approximately $7,214,041.54. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Neil Frank B. O purchased 2,500 shares of ProAssurance Corporation stock in a transaction dated Friday, August 11th. The shares were purchased at an average cost of $54.75 per share, for a total transaction of $136,875.00. Following the transaction, the insider now owns 101,931 shares in the company, valued at approximately $5,580,722.25. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 7,000 shares of company stock worth $383,125 and have sold 28,000 shares worth $1,703,438. 1.80% of the stock is currently owned by insiders.
Several hedge funds have recently added to or reduced their stakes in PRA. ProShare Advisors LLC raised its position in shares of ProAssurance Corporation by 7.5% during the 1st quarter. ProShare Advisors LLC now owns 9,081 shares of the insurance provider’s stock valued at $547,000 after buying an additional 634 shares during the period. Great West Life Assurance Co. Can raised its position in shares of ProAssurance Corporation by 6.2% during the 1st quarter. Great West Life Assurance Co. Can now owns 74,441 shares of the insurance provider’s stock valued at $4,481,000 after buying an additional 4,358 shares during the period. First Trust Advisors LP raised its position in shares of ProAssurance Corporation by 54.2% during the 1st quarter. First Trust Advisors LP now owns 72,032 shares of the insurance provider’s stock valued at $4,340,000 after buying an additional 25,332 shares during the period. Advisors Asset Management Inc. raised its position in shares of ProAssurance Corporation by 0.7% during the 1st quarter. Advisors Asset Management Inc. now owns 32,024 shares of the insurance provider’s stock valued at $1,929,000 after buying an additional 222 shares during the period. Finally, Capital Fund Management S.A. purchased a new stake in shares of ProAssurance Corporation during the 1st quarter valued at approximately $669,000. 79.76% of the stock is currently owned by hedge funds and other institutional investors.
Shares of ProAssurance Corporation (PRA) traded down 0.74% during midday trading on Monday, reaching $53.75. The company’s stock had a trading volume of 44,318 shares. The stock’s 50 day moving average price is $55.60 and its 200 day moving average price is $58.93. The firm has a market cap of $2.87 billion, a price-to-earnings ratio of 19.20 and a beta of 0.54. ProAssurance Corporation has a one year low of $50.50 and a one year high of $63.53.
ProAssurance Corporation (NYSE:PRA) last released its earnings results on Monday, August 7th. The insurance provider reported $0.40 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.01. ProAssurance Corporation had a net margin of 16.80% and a return on equity of 6.59%. The business had revenue of $205.58 million for the quarter, compared to analyst estimates of $207.14 million. During the same period last year, the company posted $0.67 EPS. The business’s revenue was down 4.3% on a year-over-year basis. Analysts predict that ProAssurance Corporation will post $2.13 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 10th. Shareholders of record on Friday, September 29th will be paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date of this dividend is Thursday, September 28th. ProAssurance Corporation’s dividend payout ratio (DPR) is 44.60%.
ProAssurance Corporation 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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