ProAssurance (NYSE:PRA – Rating Received) was upgraded from a “sell” rating to a “hold” rating by equity analysts at StockNews.com in a research note issued to investors on Saturday.
Several other brokerage firms have also recently commented on PRA. Truist Financial lowered its price target for shares of ProAssurance from $25.00 to $23.00 in a research note on Monday, November 14. Piper Sandler lowered its target price on shares of ProAssurance to $22.00 in a research note on Wednesday, November th.
ProAssurance price performance
PRA opened at $17.71 on Friday. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt to equity ratio of 0.40. ProAssurance has a 52-week low of $16.90 and a 52-week high of $27.55. The company has a 50-day moving average of $19.88 and a 200-day moving average of $21.14. The company has a market cap of $955.70 million, a P/E of 55.35 and a beta of 0.32.
ProAssurance (NYSE:PRA – Get Rating) last released its quarterly earnings data on Tuesday, November 8th. The insurance provider reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.26). ProAssurance had a return on equity of 4.41% and a net margin of 1.58%. The company had revenue of $288.20 million for the quarter, compared to analysts’ expectations of $288.12 million. On average, analysts expect ProAssurance to report earnings per share of 0.46 for the current year.
Institutional inflows and outflows
Several institutional investors and hedge funds have recently changed their positions in the company. The Teacher Retirement System of Texas increased its stake in ProAssurance by 6.0% in the first quarter. Teacher Retirement System of Texas now owns 11,063 shares of the insurance provider, valued at $297,000, after purchasing an additional 626 shares last quarter. The Swiss National Bank increased its stake in ProAssurance by 7.4% in the first quarter. The Swiss National Bank now owns 127,600 shares of the insurance provider, valued at $3,430,000, after purchasing an additional 8,800 shares last quarter. Profund Advisors LLC bought a new position in ProAssurance valued at $201,000 in Q1. GSA Capital Partners LLP purchased a new position in ProAssurance valued at $299,000 during the first quarter. Finally, the Tennessee Department of Treasury increased its stake in ProAssurance by 17.9% during the first quarter. The Tennessee Department of Treasury now owns 20,458 shares of the insurance provider, valued at $550,000, after purchasing an additional 3,100 shares last quarter. 84.80% of the shares are currently owned by hedge funds and other institutional investors.
ProAssurance Company Profile
(received rating)
ProAssurance Corporation, through its subsidiaries, provides property-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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