ProAssurance Co. (NYSE:PRA - Get Free Report) gapped up before the market opened on Thursday . The stock had previously closed at $15.54, but opened at $23.26. ProAssurance shares last traded at $23.05, with a volume of 3,746,412 shares traded.
Wall Street Analysts Forecast Growth
Separately, StockNews.com downgraded shares of ProAssurance from a "buy" rating to a "hold" rating in a research note on Friday.
View Our Latest Stock Report on ProAssurance
ProAssurance Stock Performance
The firm has a market cap of $1.18 billion, a price-to-earnings ratio of 27.90 and a beta of 0.21. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.28 and a quick ratio of 0.28. The firm has a fifty day simple moving average of $15.40 and a two-hundred day simple moving average of $15.41.
ProAssurance (NYSE:PRA - Get Free Report) last released its 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 net margin of 3.71% and a return on equity of 2.65%. The company had revenue of $287.52 million during the quarter, compared to analysts' expectations of $274.56 million. On average, analysts expect that ProAssurance Co. will post 0.8 EPS for the current year.
Institutional Investors Weigh In On ProAssurance
Large investors have recently made changes to their positions in the stock. Janus Henderson Group PLC lifted its position in ProAssurance by 2,655.2% during the 4th quarter. Janus Henderson Group PLC now owns 645,358 shares of the insurance provider's stock worth $10,268,000 after acquiring an additional 621,935 shares during the period. Zacks Investment Management acquired a new stake in shares of ProAssurance during the third quarter worth about $5,140,000. Arrowstreet Capital Limited Partnership boosted its position in ProAssurance by 92.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 690,871 shares of the insurance provider's stock valued at $10,992,000 after buying an additional 331,224 shares during the last quarter. Tudor Investment Corp ET AL acquired a new position in ProAssurance in the 4th quarter worth approximately $2,466,000. Finally, Dimensional Fund Advisors LP increased its holdings 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 period. 85.58% of the stock is owned by hedge funds and other institutional investors.
About ProAssurance
(
Get Free Report)
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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