StockNews.com Begins Coverage on ProAssurance (NYSE:PRA)

StockNews.com initiated coverage on shares of ProAssurance (NYSE:PRA - Get Free Report) in a research report issued on Wednesday. The brokerage set a "hold" rating on the insurance provider's stock.

PRA has been the subject of a number of other research reports. Citizens Jmp cut ProAssurance from an "outperform" rating to a "market perform" rating in a research report on Thursday, April 3rd. Citigroup cut ProAssurance to a "market perform" rating in a research note on Thursday, April 3rd. One equities research 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 data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $18.67.

ProAssurance Stock Up 0.6 %

NYSE:PRA traded up $0.15 during trading hours on Wednesday, hitting $23.29. The stock had a trading volume of 755,704 shares, compared to its average volume of 408,331. The company has a market cap of $1.19 billion, a PE ratio of 28.05 and a beta of -0.09. The business has a 50 day simple moving average of $18.20 and a two-hundred day simple moving average of $16.56. ProAssurance has a 1-year low of $10.76 and a 1-year high of $23.70. 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 issued its earnings results on Monday, February 24th. The insurance provider reported $0.36 earnings per share for the quarter, topping analysts' consensus estimates of $0.17 by $0.19. The company had revenue of $287.52 million for the quarter, compared to analysts' expectations of $274.56 million. ProAssurance had a net margin of 3.71% and a return on equity of 2.65%. Analysts predict that ProAssurance will post 0.8 EPS for the current year.

Hedge Funds Weigh In On ProAssurance

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Mariner LLC grew its position in shares of ProAssurance by 4.2% in the fourth quarter. Mariner LLC now owns 17,007 shares of the insurance provider's stock valued at $271,000 after purchasing an additional 688 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in ProAssurance by 4.0% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,991 shares of the insurance provider's stock worth $461,000 after purchasing an additional 1,127 shares in the last quarter. Rhumbline Advisers grew its position in shares of ProAssurance by 0.8% during the 4th quarter. Rhumbline Advisers now owns 160,707 shares of the insurance provider's stock worth $2,557,000 after purchasing an additional 1,281 shares in the last quarter. Sterling Capital Management LLC increased its holdings in shares of ProAssurance by 859.4% during the fourth quarter. Sterling Capital Management LLC now owns 1,631 shares of the insurance provider's stock worth $26,000 after purchasing an additional 1,461 shares during the period. Finally, KBC Group NV raised 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 valued at $67,000 after buying an additional 1,798 shares in the last quarter. Institutional investors own 85.58% of the company's stock.

ProAssurance Company Profile

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.