Q1 2018 EPS Estimates for ProAssurance Corporation (PRA) Lowered by SunTrust Banks

ProAssurance Corporation (NYSE:PRA) – Analysts at SunTrust Banks dropped their Q1 2018 earnings per share (EPS) estimates for ProAssurance Corporation in a report issued on Tuesday. SunTrust Banks analyst M. Hughes now expects that the insurance provider will post earnings per share of $0.51 for the quarter, down from their previous forecast of $0.54. SunTrust Banks also issued estimates for ProAssurance Corporation’s Q2 2018 earnings at $0.50 EPS and Q3 2018 earnings at $0.58 EPS.

A number of other equities research analysts also recently weighed in on PRA. Boenning Scattergood reissued a “hold” rating on shares of ProAssurance Corporation in a research note on Tuesday. Zacks Investment Research raised shares of ProAssurance Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $60.00 target price on shares of ProAssurance Corporation in a research note on Monday, October 16th. BidaskClub downgraded shares of ProAssurance Corporation from a “sell” rating to a “strong sell” rating in a research note on Monday, July 31st. Finally, Buckingham Research started coverage on shares of ProAssurance Corporation in a research note on Monday, September 11th. They issued a “neutral” rating and a $54.00 target price for the company. One analyst has rated the stock with a sell rating and five have given a hold rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $60.75.

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Shares of ProAssurance Corporation (NYSE:PRA) opened at $60.40 on Thursday. The company has a quick ratio of 0.37, a current ratio of 0.40 and a debt-to-equity ratio of 0.22. The company has a market cap of $3,226.28, a P/E ratio of 26.26 and a beta of 0.54. ProAssurance Corporation has a 12 month low of $50.70 and a 12 month high of $63.53.

ProAssurance Corporation (NYSE:PRA) last announced its quarterly earnings results on Monday, November 6th. The insurance provider reported $0.45 EPS for the quarter, beating the consensus estimate of $0.36 by $0.09. ProAssurance Corporation had a net margin of 16.18% and a return on equity of 6.75%. The company had revenue of $228.50 million for the quarter, compared to analyst estimates of $215.12 million. During the same quarter last year, the business earned $0.46 earnings per share. ProAssurance Corporation’s revenue was up 1.9% compared to the same quarter last year.

Several hedge funds have recently modified their holdings of the company. Teacher Retirement System of Texas increased its position in shares of ProAssurance Corporation by 0.7% during the second quarter. Teacher Retirement System of Texas now owns 4,243 shares of the insurance provider’s stock worth $258,000 after acquiring an additional 30 shares in the last quarter. Arizona State Retirement System increased its position in shares of ProAssurance Corporation by 0.4% during the second quarter. Arizona State Retirement System now owns 27,800 shares of the insurance provider’s stock worth $1,690,000 after acquiring an additional 100 shares in the last quarter. Hartford Investment Management Co. increased its position in shares of ProAssurance Corporation by 3.6% during the second quarter. Hartford Investment Management Co. now owns 3,728 shares of the insurance provider’s stock worth $227,000 after acquiring an additional 130 shares in the last quarter. World Asset Management Inc increased its position in shares of ProAssurance Corporation by 4.0% during the second quarter. World Asset Management Inc now owns 3,515 shares of the insurance provider’s stock worth $214,000 after acquiring an additional 134 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of ProAssurance Corporation by 8.4% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,067 shares of the insurance provider’s stock worth $126,000 after acquiring an additional 161 shares in the last quarter. 80.32% of the stock is owned by institutional investors.

In other news, insider Neil Frank B. O bought 2,500 shares of the stock in a transaction on Friday, August 18th. The stock was purchased at an average price of $54.50 per share, with a total value of $136,250.00. Following the completion of the purchase, the insider now owns 104,431 shares of the company’s stock, valued at $5,691,489.50. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.80% of the stock is currently owned by corporate insiders.

About ProAssurance Corporation

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.

Earnings History and Estimates for ProAssurance Corporation (NYSE:PRA)

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