ProAssurance Corp. (PRA) Reaches New 52-Week High at $54.92
ProAssurance Corp. (NYSE:PRA)’s share price reached a new 52-week high 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 equities analysts have recently weighed in on the stock. Zacks Investment Research raised shares of ProAssurance Corp. from a “hold” rating to a “buy” rating and set a $61.00 price target on the stock in a research note on Tuesday. TheStreet cut shares of ProAssurance Corp. from a “buy” rating to a “hold” rating in a research note on Tuesday, May 10th. Finally, JMP Securities upped their price target on shares of ProAssurance Corp. to $57.00 and gave the stock an “outperform” rating in a research note on Monday, June 13th.
The company’s 50 day moving average price is $52.07 and its 200 day moving average price is $50.41. The firm has a market cap of $2.91 billion and a PE ratio of 27.24.
ProAssurance Corp. (NYSE:PRA) last released its quarterly earnings data on Wednesday, August 3rd. The company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.10. The business earned $214.80 million during the quarter, compared to analyst estimates of $202.70 million. The business’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.64 EPS. Equities analysts anticipate that ProAssurance Corp. will post $2.35 earnings per share for the current year.
A number of institutional investors have added to or reduced their stakes in the company. 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. Trexquant Investment LP acquired a new position in ProAssurance Corp. during the fourth quarter worth approximately $1,281,000. State of Tennessee Treasury Department acquired a new position in ProAssurance Corp. during the fourth quarter worth approximately $2,033,000. Rhumbline Advisers increased its position in ProAssurance Corp. by 9.9% in the fourth quarter. Rhumbline Advisers now owns 66,075 shares of the company’s stock worth $3,207,000 after buying an additional 5,935 shares in the last quarter. Finally, 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.
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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