ProAssurance (NYSE:PRA) Downgraded by Citizens Jmp to Market Perform

ProAssurance (NYSE:PRA - Get Free Report) was downgraded by equities research analysts at Citizens Jmp from an "outperform" rating to a "market perform" rating in a report issued on Thursday, Marketbeat reports.

Separately, StockNews.com began coverage on ProAssurance in a report on Tuesday, April 1st. They set a "hold" rating on the stock. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $18.67.

ProAssurance Stock Up 0.1 %

NYSE PRA traded up $0.03 during trading hours on Thursday, hitting $23.19. The company's stock had a trading volume of 381,756 shares, compared to its average volume of 711,094. The company has a market capitalization of $1.19 billion, a PE ratio of 27.93 and a beta of -0.09. ProAssurance has a 52 week low of $10.76 and a 52 week high of $23.43. The company's 50-day simple moving average is $17.23 and its two-hundred day simple moving average is $16.20. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.35.

ProAssurance (NYSE:PRA - Get Free Report) last released its quarterly earnings results on Monday, February 24th. The insurance provider reported $0.36 EPS for the quarter, beating analysts' consensus estimates of $0.17 by $0.19. The business had revenue of $287.52 million during the quarter, compared to analyst estimates of $274.56 million. ProAssurance had a return on equity of 2.65% and a net margin of 3.71%. Research analysts anticipate that ProAssurance will post 0.8 EPS for the current fiscal year.

Institutional Investors Weigh In On ProAssurance

A number of institutional investors and hedge funds have recently modified their holdings of the company. Janus Henderson Group PLC boosted its holdings in ProAssurance by 2,655.2% in the 4th quarter. Janus Henderson Group PLC now owns 645,358 shares of the insurance provider's stock valued at $10,268,000 after purchasing an additional 621,935 shares during the period. Zacks Investment Management purchased a new position in shares of ProAssurance in the 3rd quarter worth about $5,140,000. Arrowstreet Capital Limited Partnership increased its position in shares of ProAssurance by 92.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 690,871 shares of the insurance provider's stock valued at $10,992,000 after purchasing an additional 331,224 shares during the last quarter. Tudor Investment Corp ET AL purchased a new position in shares of ProAssurance during the 4th quarter valued at about $2,466,000. Finally, Dimensional Fund Advisors LP lifted its position in ProAssurance by 4.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,703,953 shares of the insurance provider's stock worth $43,019,000 after buying an additional 123,232 shares during the last quarter. 85.58% of the stock is owned by hedge funds and other institutional investors.

About ProAssurance

ProAssurance Corporation, through its subsidiaries, provides property and casualty insurance, and reinsurance products in the United States. The company operates through Specialty Property and Casualty, Workers' Compensation Insurance, and Segregated Portfolio Cell Reinsurance segments. It offers professional liability insurance to healthcare providers and institutions, and attorneys and their firms; medical technology liability insurance to medical technology and life sciences companies; and custom alternative risk solutions, including assumed reinsurance, loss portfolio transfers, and captive cell programs for healthcare professional liability insureds.