Zacks: Brokerages Expect ProAssurance Co. (PRA) Will Post Quarterly Sales of $213.90 Million

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.



A number of brokerages recently commented on PRA. Zacks Investment Research downgraded shares of ProAssurance from a “buy” rating to a “hold” rating in a research note on Tuesday, October 9th. JMP Securities lifted their price target on shares of ProAssurance from $50.00 to $52.00 and gave the stock a “market outperform” rating in a report on Friday, September 21st. ValuEngine raised shares of ProAssurance from a “sell” rating to a “hold” rating in a report on Wednesday, August 15th. Sandler O’Neill reaffirmed a “hold” rating and issued a $44.00 price target on shares of ProAssurance in a report on Thursday, August 9th. Finally, Boenning Scattergood reaffirmed a “hold” rating on shares of ProAssurance in a report on Wednesday, August 8th. Seven analysts have rated the stock with a hold rating and one has issued a buy rating to the company. ProAssurance presently has an average rating of “Hold” and an average target price of $50.50.

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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