ProAssurance (NYSE:PRA) Stock Rating Upgraded by ValuEngine

ProAssurance (NYSE:PRA) was upgraded by investment analysts at ValuEngine from a “hold” rating to a “buy” rating in a research note issued on Tuesday, ValuEngine reports.

Other research analysts have also issued research reports about the stock. Keefe, Bruyette & Woods lowered shares of ProAssurance from a “market perform” rating to an “underperform” rating and set a $33.00 price objective on the stock. in a research note on Monday, May 20th. Boenning Scattergood reissued a “hold” rating on shares of ProAssurance in a research note on Friday, April 26th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $44.25.

ProAssurance stock opened at $38.72 on Tuesday. The company’s 50 day simple moving average is $38.21 and its 200 day simple moving average is $38.26. ProAssurance has a fifty-two week low of $34.11 and a fifty-two week high of $49.47. The firm has a market capitalization of $2.08 billion, a price-to-earnings ratio of 26.16 and a beta of 0.55. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.40 and a quick ratio of 0.40.



ProAssurance (NYSE:PRA) last released its quarterly earnings data on Wednesday, August 7th. The insurance provider reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.04). ProAssurance had a return on equity of 2.58% and a net margin of 5.33%. The firm had revenue of $239.62 million for the quarter, compared to the consensus estimate of $246.74 million. During the same period in the previous year, the business earned $0.48 EPS. The firm’s revenue was down 6.5% compared to the same quarter last year. As a group, analysts predict that ProAssurance will post 0.43 EPS for the current fiscal year.

In other ProAssurance news, Director John J. Mcmahon, Jr. sold 933 shares of the firm’s stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $36.19, for a total transaction of $33,765.27. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 1.70% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the business. Royal Bank of Canada boosted its position in ProAssurance by 5,875.3% during the second quarter. Royal Bank of Canada now owns 348,183 shares of the insurance provider’s stock worth $12,573,000 after purchasing an additional 342,356 shares during the period. Susquehanna International Group LLP bought a new position in ProAssurance during the second quarter worth $663,000. Voloridge Investment Management LLC bought a new position in ProAssurance during the second quarter worth $327,000. Nuveen Asset Management LLC bought a new position in ProAssurance during the second quarter worth $19,948,000. Finally, Price T Rowe Associates Inc. MD boosted its position in ProAssurance by 2.7% during the second quarter. Price T Rowe Associates Inc. MD now owns 1,748,123 shares of the insurance provider’s stock worth $63,125,000 after purchasing an additional 45,280 shares during the period. Hedge funds and other institutional investors own 80.33% of the company’s stock.

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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