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

Investment analysts at StockNews.com initiated coverage on shares of ProAssurance (NYSE:PRA - Get Free Report) in a note issued to investors on Tuesday. The brokerage set a "hold" rating on the insurance provider's stock.

ProAssurance Stock Performance

Shares of PRA stock traded up $0.02 during mid-day trading on Tuesday, reaching $23.37. 638,028 shares of the company's stock traded hands, compared to its average volume of 369,543. ProAssurance has a 12 month low of $10.76 and a 12 month high of $23.71. The firm has a 50 day moving average price of $16.55 and a two-hundred day moving average price of $15.92. The firm has a market capitalization of $1.20 billion, a PE ratio of 28.16 and a beta of 0.21. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.28 and a current ratio of 0.28.

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

Remove Ads

Institutional Trading of ProAssurance

Institutional investors and hedge funds have recently modified their holdings of the company. Wellington Management Group LLP increased its stake in ProAssurance by 3.0% in the 3rd quarter. Wellington Management Group LLP now owns 3,164,085 shares of the insurance provider's stock worth $47,588,000 after buying an additional 91,987 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of ProAssurance by 4.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,703,953 shares of the insurance provider's stock worth $43,019,000 after purchasing an additional 123,232 shares in the last quarter. State Street Corp raised its stake in ProAssurance by 1.8% during the 3rd quarter. State Street Corp now owns 1,968,754 shares of the insurance provider's stock valued at $29,610,000 after purchasing an additional 34,247 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in ProAssurance by 0.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,316,249 shares of the insurance provider's stock worth $20,678,000 after purchasing an additional 4,814 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its stake in ProAssurance by 92.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 690,871 shares of the insurance provider's stock worth $10,992,000 after purchasing an additional 331,224 shares during the period. 85.58% of the stock is currently owned by 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.