Equities analysts expect ProAssurance Co. (NYSE:PRA) to announce $0.41 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for ProAssurance’s earnings. The highest EPS estimate is $0.52 and the lowest is $0.34. ProAssurance reported earnings per share of $0.45 in the same quarter last year, which suggests a negative year-over-year growth rate of 8.9%. The company is scheduled to report its next earnings results on Monday, November 5th.
According to Zacks, analysts expect that ProAssurance will report full year earnings of $1.83 per share for the current year, with EPS estimates ranging from $1.75 to $1.95. For the next year, analysts forecast that the business will post earnings of $1.65 per share, with EPS estimates ranging from $1.60 to $1.70. Zacks’ EPS averages are an average based on a survey of analysts that follow ProAssurance.
ProAssurance (NYSE:PRA) last released its quarterly earnings data on Tuesday, August 7th. The insurance provider reported $0.48 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.09. ProAssurance had a return on equity of 6.14% and a net margin of 9.67%. The company had revenue of $248.02 million during the quarter, compared to analysts’ expectations of $219.98 million. During the same period last year, the firm posted $0.40 earnings per share.
A number of equities analysts have recently weighed in on PRA shares. ValuEngine lowered ProAssurance from a “hold” rating to a “sell” rating in a research note on Wednesday, May 2nd. Boenning Scattergood reiterated a “hold” rating on shares of ProAssurance in a research note on Friday, May 4th. Zacks Investment Research upgraded ProAssurance from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 4th. Finally, Sandler O’Neill reiterated a “hold” rating and set a $44.00 target price on shares of ProAssurance in a research note on Thursday, August 9th. Eight analysts have rated the stock with a hold rating, The company has a consensus rating of “Hold” and an average price target of $53.25.
In other news, Director Magnus James Gorrie bought 2,000 shares of the stock in a transaction dated Wednesday, June 13th. The shares were bought at an average price of $39.20 per share, for a total transaction of $78,400.00. Following the completion of the purchase, the director now owns 14,231 shares in the company, valued at $557,855.20. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.80% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Wells Fargo & Company MN increased its stake in ProAssurance by 6.0% during the 1st quarter. Wells Fargo & Company MN now owns 1,294,935 shares of the insurance provider’s stock worth $62,869,000 after acquiring an additional 73,287 shares during the period. Rhumbline Advisers increased its stake in ProAssurance by 1.7% during the 1st quarter. Rhumbline Advisers now owns 137,900 shares of the insurance provider’s stock worth $6,695,000 after acquiring an additional 2,292 shares during the period. Victory Capital Management Inc. increased its stake in ProAssurance by 11.5% during the 1st quarter. Victory Capital Management Inc. now owns 1,743,480 shares of the insurance provider’s stock worth $84,646,000 after acquiring an additional 180,270 shares during the period. Swiss National Bank increased its stake in ProAssurance by 2.1% during the 1st quarter. Swiss National Bank now owns 92,900 shares of the insurance provider’s stock worth $4,510,000 after acquiring an additional 1,900 shares during the period. Finally, Schwab Charles Investment Management Inc. increased its stake in ProAssurance by 10.0% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 335,773 shares of the insurance provider’s stock worth $16,302,000 after acquiring an additional 30,610 shares during the period. Institutional investors own 83.50% of the company’s stock.
Shares of PRA traded up $0.55 during mid-day trading on Thursday, reaching $48.00. The company’s stock had a trading volume of 245,600 shares, compared to its average volume of 351,485. The stock has a market cap of $2.55 billion, a price-to-earnings ratio of 23.54 and a beta of 0.62. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.18. ProAssurance has a 1-year low of $34.95 and a 1-year high of $63.45.
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, 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.
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