ProAssurance (NYSE:PRA) Coverage Initiated at StockNews.com

Equities research analysts at StockNews.com began coverage on shares of ProAssurance (NYSE:PRA - Get Free Report) in a research report issued to clients and investors on Friday. The brokerage set a "hold" rating on the insurance provider's stock.

Several other brokerages have also recently commented on PRA. Citizens Jmp cut shares of ProAssurance from an "outperform" rating to a "market perform" rating in a research report on Thursday, April 3rd. Citigroup downgraded shares of ProAssurance to a "market perform" rating in a report on Thursday, April 3rd. Finally, Raymond James cut shares of ProAssurance from a "market perform" rating to an "underperform" rating in a report on Thursday, April 10th. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, ProAssurance has an average rating of "Hold" and an average price target of $18.67.

ProAssurance Stock Performance

PRA stock opened at $23.12 on Friday. The company has a market capitalization of $1.18 billion, a P/E ratio of 27.86 and a beta of -0.09. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.35. The company has a 50-day simple moving average of $19.71 and a 200 day simple moving average of $17.05. ProAssurance has a fifty-two week low of $10.76 and a fifty-two week high of $23.70.

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

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Sterling Capital Management LLC lifted its position in shares of ProAssurance by 859.4% in the 4th quarter. Sterling Capital Management LLC now owns 1,631 shares of the insurance provider's stock valued at $26,000 after acquiring an additional 1,461 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of ProAssurance by 307.3% in the first quarter. GAMMA Investing LLC now owns 2,073 shares of the insurance provider's stock valued at $48,000 after purchasing an additional 1,564 shares in the last quarter. KBC Group NV boosted its position in shares of ProAssurance by 75.4% in the fourth quarter. KBC Group NV now owns 4,184 shares of the insurance provider's stock worth $67,000 after buying an additional 1,798 shares during the period. Aquatic Capital Management LLC grew its holdings in shares of ProAssurance by 148.6% during the fourth quarter. Aquatic Capital Management LLC now owns 6,214 shares of the insurance provider's stock valued at $99,000 after buying an additional 3,714 shares in the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new position in ProAssurance during the fourth quarter valued at $150,000. 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.

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