ProAssurance Co. (NYSE:PRA) – Equities researchers at SunTrust Banks reduced their Q1 2018 EPS estimates for shares of ProAssurance in a research report issued on Monday. SunTrust Banks analyst M. Hughes now anticipates that the insurance provider will earn $0.39 per share for the quarter, down from their prior forecast of $0.45. SunTrust Banks also issued estimates for ProAssurance’s Q2 2018 earnings at $0.41 EPS, Q3 2018 earnings at $0.41 EPS and FY2018 earnings at $1.75 EPS.

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ProAssurance (NYSE:PRA) last announced its earnings results on Wednesday, February 21st. The insurance provider reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.07). The company had revenue of $209.12 million for the quarter, compared to the consensus estimate of $217.03 million. ProAssurance had a net margin of 12.38% and a return on equity of 6.11%. The company’s revenue for the quarter was down 12.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.83 EPS.

A number of other brokerages have also weighed in on PRA. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $61.00 target price on shares of ProAssurance in a research note on Wednesday, December 6th. Zacks Investment Research raised shares of ProAssurance from a “hold” rating to a “buy” rating and set a $68.00 price target for the company in a research report on Wednesday, December 13th. Boenning Scattergood reissued a “hold” rating on shares of ProAssurance in a research report on Thursday, February 22nd. TheStreet cut shares of ProAssurance from a “b” rating to a “c+” rating in a research report on Friday, March 9th. Finally, Raymond James Financial raised shares of ProAssurance from an “underperform” rating to a “market perform” rating in a research report on Wednesday, February 28th. Two equities research analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $57.33.

Shares of ProAssurance (NYSE PRA) opened at $49.80 on Wednesday. The firm has a market cap of $2,670.18, a PE ratio of 25.03 and a beta of 0.59. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.46 and a current ratio of 0.46. ProAssurance has a 52 week low of $46.90 and a 52 week high of $63.45.

Institutional investors have recently modified their holdings of the business. JPMorgan Chase & Co. raised its holdings in ProAssurance by 1.1% in the third quarter. JPMorgan Chase & Co. now owns 2,142,632 shares of the insurance provider’s stock worth $116,988,000 after buying an additional 24,219 shares during the last quarter. GSA Capital Partners LLP purchased a new position in ProAssurance in the third quarter worth about $1,565,000. Sei Investments Co. raised its holdings in ProAssurance by 3.2% in the third quarter. Sei Investments Co. now owns 281,413 shares of the insurance provider’s stock worth $15,379,000 after buying an additional 8,675 shares during the last quarter. Susquehanna International Group LLP raised its holdings in ProAssurance by 10.4% in the third quarter. Susquehanna International Group LLP now owns 67,361 shares of the insurance provider’s stock worth $3,681,000 after buying an additional 6,367 shares during the last quarter. Finally, Pinebridge Investments L.P. raised its holdings in ProAssurance by 54.3% in the fourth quarter. Pinebridge Investments L.P. now owns 75,211 shares of the insurance provider’s stock worth $4,299,000 after buying an additional 26,467 shares during the last quarter. 82.69% of the stock is owned by institutional investors and hedge funds.

In related news, Chairman William Stancil Starnes sold 2,442 shares of ProAssurance stock in a transaction dated Wednesday, January 10th. The shares were sold at an average price of $55.00, for a total transaction of $134,310.00. Following the completion of the transaction, the chairman now directly owns 324,895 shares of the company’s stock, valued at approximately $17,869,225. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Over the last three months, insiders have sold 39,074 shares of company stock valued at $2,149,329. 1.80% of the stock is currently owned by corporate insiders.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 18th. Investors of record on Thursday, March 29th will be given a dividend of $0.31 per share. The ex-dividend date is Wednesday, March 28th. This represents a $1.24 dividend on an annualized basis and a yield of 2.49%. ProAssurance’s dividend payout ratio (DPR) is currently 62.31%.

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ProAssurance 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.

Earnings History and Estimates for ProAssurance (NYSE:PRA)

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