ProAssurance Corp. (PRA) Sets New 1-Year High at $54.92
ProAssurance Corp. (NYSE:PRA) shares reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $54.92 and last traded at $54.84, with a volume of 88,600 shares traded. The stock had previously closed at $54.59.
A number of research analysts recently issued reports on the company. Zacks Investment Research downgraded ProAssurance Corp. from a “buy” rating to a “hold” rating in a report on Monday, May 2nd. JMP Securities raised their price target on ProAssurance Corp. to $57.00 and gave the company an “outperform” rating in a research note on Monday, June 13th. Finally, TheStreet downgraded ProAssurance Corp. from a “buy” rating to a “hold” rating in a research note on Tuesday, May 10th.
The firm’s 50-day moving average price is $52.27 and its 200-day moving average price is $50.47. The company has a market capitalization of $2.91 billion and a PE ratio of 27.19.
ProAssurance Corp. (NYSE:PRA) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.57 by $0.10. During the same quarter in the previous year, the company posted $0.64 earnings per share. The firm had revenue of $214.80 million for the quarter, compared to the consensus estimate of $202.70 million. The business’s revenue for the quarter was up 5.6% on a year-over-year basis. Analysts predict that ProAssurance Corp. will post $2.42 EPS for the current year.
Several institutional investors have added to or reduced their stakes in PRA. New York State Common Retirement Fund increased its position in ProAssurance Corp. by 9.0% in the fourth quarter. New York State Common Retirement Fund now owns 181,856 shares of the company’s stock worth $8,825,000 after buying an additional 14,956 shares in the last quarter. Principal Financial Group Inc. increased its position in ProAssurance Corp. by 7.1% in the fourth quarter. Principal Financial Group Inc. now owns 362,513 shares of the company’s stock worth $17,593,000 after buying an additional 23,985 shares in the last quarter. Diamond Hill Capital Management Inc. increased its position in ProAssurance Corp. by 1.5% in the fourth quarter. Diamond Hill Capital Management Inc. now owns 443,560 shares of the company’s stock worth $21,526,000 after buying an additional 6,390 shares in the last quarter. US Bancorp DE increased its position in ProAssurance Corp. by 5.1% in the fourth quarter. US Bancorp DE now owns 24,692 shares of the company’s stock worth $1,198,000 after buying an additional 1,197 shares in the last quarter. Finally, Trexquant Investment LP acquired a new position in ProAssurance Corp. during the fourth quarter worth about $1,281,000.
ProAssurance Corporation is a holding company for property and casualty insurance companies. The Company provides 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.
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