ProAssurance Co. (NYSE:PRA) has been assigned a consensus rating of “Hold” from the ten brokerages that are covering the company, Marketbeat reports. Three analysts have rated the stock with a sell rating and six have given a hold rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $52.00.
A number of equities analysts have issued reports on the stock. TheStreet cut shares of ProAssurance from a “b” rating to a “c+” rating in a research note on Friday, March 9th. SunTrust Banks cut shares of ProAssurance from a “buy” rating to a “hold” rating in a research report on Wednesday, April 4th. ValuEngine cut shares of ProAssurance from a “hold” rating to a “sell” rating in a research report on Wednesday, May 2nd. Sandler O’Neill reissued a “hold” rating and set a $50.00 price target on shares of ProAssurance in a research report on Friday, April 6th. Finally, Keefe, Bruyette & Woods set a $52.00 price target on shares of ProAssurance and gave the stock a “hold” rating in a research report on Tuesday, April 10th.
ProAssurance traded up $0.10, reaching $35.90, during midday trading on Tuesday, Marketbeat reports. The company’s stock had a trading volume of 460 shares, compared to its average volume of 699,602. ProAssurance has a 52 week low of $34.95 and a 52 week high of $63.45. The stock has a market cap of $1.90 billion, a PE ratio of 17.77 and a beta of 0.54. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.39 and a current ratio of 0.39.
ProAssurance (NYSE:PRA) last announced its quarterly earnings data on Thursday, May 3rd. The insurance provider reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.04). ProAssurance had a net margin of 9.20% and a return on equity of 5.64%. The business had revenue of $201.03 million during the quarter, compared to the consensus estimate of $219.42 million. During the same period in the previous year, the business posted $0.62 earnings per share. ProAssurance’s revenue was down 9.9% compared to the same quarter last year. sell-side analysts predict that ProAssurance will post 1.77 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 10th. Stockholders of record on Friday, June 22nd will be given a dividend of $0.31 per share. The ex-dividend date of this dividend is Thursday, June 21st. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.45%. ProAssurance’s dividend payout ratio is 61.39%.
In other news, insider Howard H. Friedman purchased 2,000 shares of ProAssurance stock in a transaction dated Monday, May 7th. The shares were bought at an average cost of $40.75 per share, with a total value of $81,500.00. Following the completion of the transaction, the insider now directly owns 273,153 shares in the company, valued at approximately $11,130,984.75. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.80% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. LPL Financial LLC lifted its position in ProAssurance by 11.2% in the 4th quarter. LPL Financial LLC now owns 10,348 shares of the insurance provider’s stock valued at $591,000 after acquiring an additional 1,041 shares in the last quarter. American International Group Inc. lifted its position in ProAssurance by 16.9% in the 4th quarter. American International Group Inc. now owns 7,581 shares of the insurance provider’s stock valued at $433,000 after acquiring an additional 1,098 shares in the last quarter. Rehmann Capital Advisory Group lifted its position in ProAssurance by 2.7% in the 4th quarter. Rehmann Capital Advisory Group now owns 44,811 shares of the insurance provider’s stock valued at $2,561,000 after acquiring an additional 1,198 shares in the last quarter. Glen Harbor Capital Management LLC lifted its position in ProAssurance by 19.7% in the 1st quarter. Glen Harbor Capital Management LLC now owns 8,008 shares of the insurance provider’s stock valued at $389,000 after acquiring an additional 1,316 shares in the last quarter. Finally, OppenheimerFunds Inc. lifted its position in ProAssurance by 14.1% in the 1st quarter. OppenheimerFunds Inc. now owns 10,843 shares of the insurance provider’s stock valued at $526,000 after acquiring an additional 1,341 shares in the last quarter. 81.51% of the stock is currently owned by institutional investors and hedge funds.
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, and Lloyd's Syndicate segments. It offers professional liability insurance for healthcare professionals and facilities; professional liability insurance for attorneys; liability insurance for medical technology and life sciences risks; and workers' compensation insurance for employers, groups, and associations.
Receive News & Ratings for ProAssurance Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ProAssurance and related companies with MarketBeat.com's FREE daily email newsletter.