ProAssurance Co. (NYSE:PRA) has been given a consensus rating of “Hold” by the nine brokerages that are presently covering the company, Marketbeat reports. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $50.50.
Several research firms have weighed in on PRA. JMP Securities lifted their price objective on ProAssurance from $50.00 to $52.00 and gave the company a “market outperform” rating in a research report on Friday. Zacks Investment Research raised ProAssurance from a “hold” rating to a “buy” rating and set a $54.00 price objective on the stock in a research report on Tuesday, September 11th. ValuEngine raised ProAssurance from a “sell” rating to a “hold” rating in a research report on Wednesday, August 15th. Sandler O’Neill reaffirmed a “hold” rating and set a $44.00 price objective on shares of ProAssurance in a research report on Thursday, August 9th. Finally, Boenning Scattergood reaffirmed a “hold” rating on shares of ProAssurance in a research report on Wednesday, August 8th.
Several hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. lifted its holdings in shares of ProAssurance by 31.3% during the second quarter. BlackRock Inc. now owns 7,461,935 shares of the insurance provider’s stock valued at $264,525,000 after purchasing an additional 1,777,372 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of ProAssurance by 3.2% during the first quarter. JPMorgan Chase & Co. now owns 2,242,180 shares of the insurance provider’s stock valued at $108,858,000 after purchasing an additional 70,179 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of ProAssurance by 11.5% during the second quarter. Dimensional Fund Advisors LP now owns 2,029,596 shares of the insurance provider’s stock valued at $71,950,000 after purchasing an additional 209,147 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of ProAssurance by 5.6% during the second quarter. Victory Capital Management Inc. now owns 1,840,518 shares of the insurance provider’s stock valued at $65,247,000 after purchasing an additional 97,038 shares during the last quarter. Finally, Royce & Associates LP lifted its holdings in shares of ProAssurance by 225.4% during the second quarter. Royce & Associates LP now owns 1,464,735 shares of the insurance provider’s stock valued at $51,925,000 after purchasing an additional 1,014,637 shares during the last quarter. Hedge funds and other institutional investors own 85.71% of the company’s stock.
ProAssurance stock traded up $0.10 during trading hours on Friday, hitting $48.10. 11,629 shares of the stock traded hands, compared to its average volume of 197,861. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.35 and a current ratio of 0.35. The stock has a market cap of $2.57 billion, a price-to-earnings ratio of 23.99 and a beta of 0.60. ProAssurance has a one year low of $34.95 and a one year high of $63.45.
ProAssurance (NYSE:PRA) last posted its quarterly earnings data on Tuesday, August 7th. The insurance provider reported $0.48 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.09. The business had revenue of $248.02 million for the quarter, compared to analysts’ expectations of $219.98 million. ProAssurance had a return on equity of 6.14% and a net margin of 9.67%. During the same period in the previous year, the firm posted $0.40 EPS. analysts predict that ProAssurance will post 1.83 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 10th. Shareholders of record on Friday, September 28th will be given a dividend of $0.31 per share. The ex-dividend date of this dividend is Thursday, September 27th. This represents a $1.24 annualized dividend and a yield of 2.58%. ProAssurance’s payout ratio is 61.39%.
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, 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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