ProAssurance (NYSE:PRA) Stock Passes Above 200-Day Moving Average – Should You Sell?

ProAssurance Corporation (NYSE:PRA)’s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $24.40 and traded as high as $24.76. ProAssurance shares last traded at $24.6650, with a volume of 636,592 shares.

Wall Street Analyst Weigh In

PRA has been the subject of several research analyst reports. Zacks Research upgraded ProAssurance from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 24th. Weiss Ratings upgraded ProAssurance from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, May 29th. Finally, Wall Street Zen cut ProAssurance from a “hold” rating to a “sell” rating in a research report on Sunday, May 10th. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, ProAssurance currently has a consensus rating of “Buy”.

ProAssurance Trading Down 0.0%

The firm has a market cap of $1.27 billion, a PE ratio of 19.67 and a beta of 0.02. The business has a 50-day moving average price of $24.56 and a two-hundred day moving average price of $24.41. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.27 and a quick ratio of 0.27.

ProAssurance (NYSE:PRA) last announced its quarterly earnings results on Tuesday, May 5th. The insurance provider reported $0.25 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.25. ProAssurance had a return on equity of 6.82% and a net margin of 5.99%.The business had revenue of $262.63 million during the quarter, compared to analysts’ expectations of $216.86 million. During the same quarter last year, the business posted $0.13 earnings per share. The business’s revenue for the quarter was down 3.5% on a year-over-year basis. Analysts forecast that ProAssurance Corporation will post 1.25 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in PRA. Qube Research & Technologies Ltd increased its position in shares of ProAssurance by 186.1% in the second quarter. Qube Research & Technologies Ltd now owns 1,491,060 shares of the insurance provider’s stock valued at $34,041,000 after buying an additional 969,833 shares in the last quarter. Renaissance Technologies LLC increased its position in ProAssurance by 641.1% during the 1st quarter. Renaissance Technologies LLC now owns 964,900 shares of the insurance provider’s stock worth $23,852,000 after purchasing an additional 834,700 shares in the last quarter. Balyasny Asset Management L.P. increased its position in ProAssurance by 360.0% during the 4th quarter. Balyasny Asset Management L.P. now owns 1,039,901 shares of the insurance provider’s stock worth $25,124,000 after purchasing an additional 813,814 shares in the last quarter. Alliancebernstein L.P. increased its position in ProAssurance by 41.6% during the 3rd quarter. Alliancebernstein L.P. now owns 2,711,805 shares of the insurance provider’s stock worth $65,056,000 after purchasing an additional 796,132 shares in the last quarter. Finally, Man Group plc purchased a new stake in ProAssurance during the 3rd quarter worth about $17,058,000. Hedge funds and other institutional investors own 85.58% of the company’s stock.

About ProAssurance

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.