ProAssurance Corporation (NYSE:PRA) Given Average Recommendation of “Reduce” by Brokerages

ProAssurance Corporation (NYSE:PRA) has received a consensus recommendation of “Reduce” from the six analysts that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $25.00.

A number of research firms have recently weighed in on PRA. Zacks Research lowered shares of ProAssurance from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 5th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of ProAssurance in a research note on Wednesday, October 8th. Finally, Wall Street Zen upgraded ProAssurance to a “sell” rating in a report on Saturday, November 22nd.

Institutional Trading of ProAssurance

A number of hedge funds have recently added to or reduced their stakes in PRA. Cubist Systematic Strategies LLC acquired a new position in shares of ProAssurance during the 1st quarter valued at about $909,000. AQR Capital Management LLC grew its holdings in ProAssurance by 40.4% in the first quarter. AQR Capital Management LLC now owns 134,641 shares of the insurance provider’s stock valued at $3,144,000 after purchasing an additional 38,756 shares during the period. Alliancebernstein L.P. grew its holdings in ProAssurance by 2,035.6% in the first quarter. Alliancebernstein L.P. now owns 1,516,479 shares of the insurance provider’s stock valued at $35,410,000 after purchasing an additional 1,445,469 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in ProAssurance by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,293 shares of the insurance provider’s stock worth $707,000 after purchasing an additional 1,302 shares during the last quarter. Finally, Millennium Management LLC raised its stake in ProAssurance by 181.5% during the first quarter. Millennium Management LLC now owns 306,540 shares of the insurance provider’s stock worth $7,158,000 after purchasing an additional 197,663 shares during the period. 85.58% of the stock is owned by institutional investors and hedge funds.

ProAssurance Stock Performance

NYSE PRA opened at $24.08 on Wednesday. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.32. ProAssurance has a fifty-two week low of $13.90 and a fifty-two week high of $24.41. The business has a fifty day moving average of $24.05 and a 200-day moving average of $23.91. The stock has a market cap of $1.24 billion, a price-to-earnings ratio of 37.04 and a beta of 0.09.

ProAssurance (NYSE:PRA) last posted its quarterly earnings data on Friday, May 20th. The insurance provider reported $0.04 EPS for the quarter. ProAssurance had a return on equity of 4.78% and a net margin of 3.01%.The business had revenue of $220.02 million for the quarter. As a group, analysts predict that ProAssurance will post 0.8 earnings per share for the current fiscal year.

ProAssurance Company Profile

ProAssurance Corporation is a specialty property and casualty insurance holding company headquartered in Birmingham, Alabama. The company focuses primarily on professional liability coverage for healthcare providers, including physicians, surgeons, dentists and allied health professionals. ProAssurance operates through a group of insurance subsidiaries that underwrite both occurrence- and claims-made policies tailored to the unique risks faced by the medical community.

In addition to professional liability insurance, ProAssurance offers a suite of complementary property and casualty products, such as general liability, workers’ compensation, property and inland marine, and umbrella coverage.