Analysts Anticipate ProAssurance Corporation (PRA) to Announce $0.54 Earnings Per Share
ProAssurance Corporation (NYSE:PRA) has been given a consensus broker rating score of 2.33 (Buy) from the three brokers that cover the company, Zacks Investment Research reports. Two equities research analysts have rated the stock with a hold rating and one has issued a strong buy rating on the company.
Brokers have set a 12 month consensus target price of $70.00 for the company and are expecting that the company will post $0.54 earnings per share for the current quarter, according to Zacks. Zacks has also given ProAssurance Corporation an industry rank of 229 out of 265 based on the ratings given to related companies.
Several equities research analysts recently weighed in on the company. BidaskClub lowered ProAssurance Corporation from a “hold” rating to a “sell” rating in a report on Wednesday. Keefe, Bruyette & Woods started coverage on ProAssurance Corporation in a report on Monday. They set a “market perform” rating and a $61.00 target price for the company. Zacks Investment Research lowered ProAssurance Corporation from a “buy” rating to a “hold” rating in a report on Monday, May 29th. Finally, Boenning Scattergood reaffirmed a “neutral” rating on shares of ProAssurance Corporation in a report on Monday, April 17th.
In related news, insider Edward Lewis Rand, Jr. sold 13,845 shares of the business’s stock in a transaction that occurred on Wednesday, June 28th. The stock was sold at an average price of $60.41, for a total value of $836,376.45. Following the completion of the sale, the insider now owns 117,079 shares in the company, valued at approximately $7,072,742.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Edward Lewis Rand, Jr. sold 3,155 shares of the business’s stock in a transaction that occurred on Monday, June 26th. The stock was sold at an average price of $60.11, for a total value of $189,647.05. Following the completion of the sale, the insider now owns 120,014 shares of the company’s stock, valued at approximately $7,214,041.54. The disclosure for this sale can be found here. Insiders have sold 28,000 shares of company stock valued at $1,703,438 in the last three months. 2.00% of the stock is owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its position in ProAssurance Corporation by 23,830.8% in the first quarter. BlackRock Inc. now owns 5,194,417 shares of the insurance provider’s stock valued at $312,963,000 after buying an additional 5,172,711 shares during the period. Vanguard Group Inc. boosted its position in ProAssurance Corporation by 5.5% in the first quarter. Vanguard Group Inc. now owns 5,000,763 shares of the insurance provider’s stock valued at $301,296,000 after buying an additional 258,955 shares during the period. FMR LLC boosted its position in ProAssurance Corporation by 17.7% in the first quarter. FMR LLC now owns 2,082,159 shares of the insurance provider’s stock valued at $125,450,000 after buying an additional 313,514 shares during the period. Dimensional Fund Advisors LP boosted its position in ProAssurance Corporation by 3.4% in the first quarter. Dimensional Fund Advisors LP now owns 1,700,841 shares of the insurance provider’s stock valued at $102,476,000 after buying an additional 55,591 shares during the period. Finally, State Street Corp boosted its position in ProAssurance Corporation by 15.6% in the first quarter. State Street Corp now owns 1,232,824 shares of the insurance provider’s stock valued at $74,274,000 after buying an additional 166,133 shares during the period. Institutional investors own 81.92% of the company’s stock.
Shares of ProAssurance Corporation (PRA) traded up 0.50% during mid-day trading on Wednesday, hitting $60.75. 66,973 shares of the stock were exchanged. ProAssurance Corporation has a 12-month low of $50.50 and a 12-month high of $63.53. The stock has a market capitalization of $3.24 billion, a P/E ratio of 18.76 and a beta of 0.50. The stock’s 50 day moving average price is $60.34 and its 200-day moving average price is $58.89.
ProAssurance Corporation (NYSE:PRA) last announced its quarterly earnings data on Thursday, May 4th. The insurance provider reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.08. ProAssurance Corporation had a return on equity of 7.19% and a net margin of 19.25%. The company had revenue of $223 million during the quarter, compared to analyst estimates of $211.53 million. During the same quarter last year, the firm posted $0.46 EPS. The firm’s revenue for the quarter was up 15.3% on a year-over-year basis. On average, equities research analysts expect that ProAssurance Corporation will post $2.33 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, July 12th. Shareholders of record on Tuesday, June 27th were issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date was Friday, June 23rd. ProAssurance Corporation’s payout ratio is presently 38.39%.
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ProAssurance Corporation Company Profile
ProAssurance Corporation (ProAssurance) 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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