ProAssurance (NYSE:PRA) Earns Hold Rating from Analysts at StockNews.com

StockNews.com started coverage on shares of ProAssurance (NYSE:PRA) in a report issued on Tuesday morning. The firm issued a hold rating on the insurance provider’s stock.

ProAssurance Stock Performance

NYSE PRA opened at $23.35 on Tuesday. The stock has a market capitalization of $1.19 billion, a price-to-earnings ratio of 28.13 and a beta of 0.21. The business’s 50 day moving average is $16.90 and its two-hundred day moving average is $16.03. ProAssurance has a 12-month low of $10.76 and a 12-month high of $23.43. 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) last announced its quarterly earnings data 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 firm had revenue of $287.52 million for the quarter, compared to analyst estimates of $274.56 million. ProAssurance had a return on equity of 2.65% and a net margin of 3.71%. Research analysts expect that ProAssurance will post 0.8 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Mariner LLC grew its holdings in shares of ProAssurance by 4.2% in the 4th quarter. Mariner LLC now owns 17,007 shares of the insurance provider’s stock worth $271,000 after acquiring an additional 688 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in ProAssurance by 4.0% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,991 shares of the insurance provider’s stock valued at $461,000 after purchasing an additional 1,127 shares during the last quarter. Rhumbline Advisers increased its position in shares of ProAssurance by 0.8% in the fourth quarter. Rhumbline Advisers now owns 160,707 shares of the insurance provider’s stock valued at $2,557,000 after buying an additional 1,281 shares in the last quarter. Sterling Capital Management LLC raised its stake in shares of ProAssurance by 859.4% during the 4th quarter. Sterling Capital Management LLC now owns 1,631 shares of the insurance provider’s stock worth $26,000 after buying an additional 1,461 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its position in shares of ProAssurance by 0.3% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 587,901 shares of the insurance provider’s stock worth $8,842,000 after buying an additional 1,738 shares in the last quarter. 85.58% of the stock is owned by hedge funds and other institutional investors.

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.