ProAssurance Co. (PRA) Expected to Post Quarterly Sales of $228.21 Million

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Equities analysts predict that ProAssurance Co. (NYSE:PRA) will report $228.21 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for ProAssurance’s earnings, with estimates ranging from $226.28 million to $231.50 million. ProAssurance reported sales of $211.91 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 7.7%. The company is expected to issue its next earnings report on Thursday, May 2nd.

According to Zacks, analysts expect that ProAssurance will report full-year sales of $918.93 million for the current year, with estimates ranging from $898.04 million to $952.70 million. For the next financial year, analysts forecast that the company will report sales of $952.09 million, with estimates ranging from $912.42 million to $1.01 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for ProAssurance.

ProAssurance (NYSE:PRA) last issued its earnings results on Thursday, February 21st. The insurance provider reported $0.18 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.18. ProAssurance had a return on equity of 5.09% and a net margin of 5.31%. The company had revenue of $228.92 million for the quarter, compared to analyst estimates of $230.73 million.

A number of equities research analysts recently commented on PRA shares. Zacks Investment Research raised ProAssurance from a “sell” rating to a “hold” rating in a research report on Wednesday, January 9th. SunTrust Banks lowered their price target on ProAssurance to $45.00 and set a “hold” rating for the company in a research report on Friday, December 14th. They noted that the move was a valuation call. Finally, Boenning Scattergood reissued a “hold” rating on shares of ProAssurance in a research report on Tuesday, February 5th. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. ProAssurance has a consensus rating of “Hold” and an average target price of $49.40.

Shares of NYSE:PRA opened at $37.52 on Thursday. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.19. ProAssurance has a twelve month low of $34.95 and a twelve month high of $50.78. The company has a market cap of $2.01 billion, a PE ratio of 25.35 and a beta of 0.65.

The business also recently declared a quarterly dividend, which will be paid on Monday, April 22nd. Investors of record on Friday, March 29th will be given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 3.30%. The ex-dividend date is Thursday, March 28th. ProAssurance’s payout ratio is currently 83.78%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Resources Investment Advisors Inc. purchased a new stake in ProAssurance in the 4th quarter valued at $29,000. Massmutual Trust Co. FSB ADV purchased a new stake in ProAssurance in the 4th quarter valued at $42,000. Strs Ohio grew its stake in ProAssurance by 25.0% in the 4th quarter. Strs Ohio now owns 1,500 shares of the insurance provider’s stock valued at $60,000 after purchasing an additional 300 shares during the period. PNC Financial Services Group Inc. grew its stake in ProAssurance by 95.2% in the 3rd quarter. PNC Financial Services Group Inc. now owns 2,360 shares of the insurance provider’s stock valued at $111,000 after purchasing an additional 1,151 shares during the period. Finally, AdvisorNet Financial Inc bought a new position in ProAssurance in the 4th quarter valued at $150,000. 83.03% of the stock is owned by institutional investors and hedge funds.

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, Segregated Portfolio Cell Reinsurance, and Lloyd's Syndicate segments.

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