Equities research analysts expect ProAssurance Co. (NYSE:PRA) to report $213.90 million in sales for the current quarter, Zacks reports. Three analysts have issued estimates for ProAssurance’s earnings. The highest sales estimate is $220.40 million and the lowest is $203.11 million. ProAssurance reported sales of $216.54 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 1.2%. The company is scheduled to announce its next quarterly earnings results after the market closes on Tuesday, November 6th.
On average, analysts expect that ProAssurance will report full-year sales of $873.90 million for the current year, with estimates ranging from $817.91 million to $902.69 million. For the next financial year, analysts forecast that the company will post sales of $879.44 million, with estimates ranging from $811.08 million to $930.25 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow ProAssurance.
ProAssurance (NYSE:PRA) last issued its quarterly earnings data on Tuesday, August 7th. The insurance provider reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.09. The company had revenue of $248.02 million during the quarter, compared to the consensus estimate of $219.98 million. ProAssurance had a net margin of 9.67% and a return on equity of 6.14%. During the same quarter in the previous year, the firm posted $0.40 earnings per share.
Institutional investors and hedge funds have recently made changes to their positions in the company. OppenheimerFunds Inc. raised its holdings in ProAssurance by 14.1% in the 1st quarter. OppenheimerFunds Inc. now owns 10,843 shares of the insurance provider’s stock valued at $526,000 after acquiring an additional 1,341 shares during the last quarter. UBS Group AG raised its holdings in ProAssurance by 3.2% in the 1st quarter. UBS Group AG now owns 49,935 shares of the insurance provider’s stock valued at $2,424,000 after acquiring an additional 1,527 shares during the last quarter. Xact Kapitalforvaltning AB grew its stake in shares of ProAssurance by 22.5% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 8,723 shares of the insurance provider’s stock valued at $309,000 after buying an additional 1,600 shares during the period. Cubist Systematic Strategies LLC grew its stake in shares of ProAssurance by 39.7% in the 1st quarter. Cubist Systematic Strategies LLC now owns 5,886 shares of the insurance provider’s stock valued at $286,000 after buying an additional 1,672 shares during the period. Finally, Ramsey Quantitative Systems grew its stake in shares of ProAssurance by 57.7% in the 3rd quarter. Ramsey Quantitative Systems now owns 9,735 shares of the insurance provider’s stock valued at $457,000 after buying an additional 3,560 shares during the period. 85.61% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE:PRA opened at $43.41 on Thursday. The company has a market capitalization of $2.30 billion, a P/E ratio of 22.86 and a beta of 0.63. ProAssurance has a 52 week low of $34.95 and a 52 week high of $63.45. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.18.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 10th. Stockholders of record on Friday, September 28th were issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.86%. The ex-dividend date of this dividend was Thursday, September 27th. ProAssurance’s dividend payout ratio (DPR) is presently 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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