ProAssurance (NYSE:PRA) Price Target Raised to $16.00 at Truist Financial

ProAssurance (NYSE:PRA) had its price target boosted by Truist Financial from $14.00 to $16.00 in a research report sent to investors on Wednesday morning, Benzinga reports. The firm currently has a hold rating on the insurance provider’s stock.

Other equities analysts have also issued reports about the company. Piper Sandler decreased their target price on ProAssurance from $16.00 to $15.00 and set an overweight rating for the company in a research report on Monday, March 4th. JMP Securities reiterated a market outperform rating and issued a $22.00 target price on shares of ProAssurance in a report on Monday, April 15th. Two analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of $17.67.

ProAssurance Trading Down 1.3 %

Shares of PRA traded down $0.19 on Wednesday, reaching $14.53. 83,227 shares of the company’s stock were exchanged, compared to its average volume of 274,392. ProAssurance has a 12 month low of $11.76 and a 12 month high of $19.38. The stock has a market capitalization of $740.58 million, a P/E ratio of -19.89 and a beta of 0.21. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.38. The business has a 50 day moving average price of $12.94 and a two-hundred day moving average price of $13.52.

ProAssurance (NYSE:PRA) last issued its earnings results on Monday, May 6th. The insurance provider reported $0.08 EPS for the quarter, beating the consensus estimate of $0.04 by $0.04. ProAssurance had a negative net margin of 3.39% and a negative return on equity of 0.53%. The company had revenue of $284.97 million during the quarter, compared to analysts’ expectations of $233.62 million. During the same quarter in the previous year, the company posted ($0.15) EPS. The business’s revenue for the quarter was up 4.5% compared to the same quarter last year. Research analysts anticipate that ProAssurance will post 0.26 earnings per share for the current year.

Institutional Trading of ProAssurance

Several hedge funds have recently bought and sold shares of the stock. Tower Research Capital LLC TRC boosted its position in shares of ProAssurance by 23.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,449 shares of the insurance provider’s stock worth $61,000 after buying an additional 842 shares during the period. Quadrature Capital Ltd grew its stake in shares of ProAssurance by 4.2% during the 3rd quarter. Quadrature Capital Ltd now owns 22,982 shares of the insurance provider’s stock worth $435,000 after acquiring an additional 924 shares in the last quarter. New York State Common Retirement Fund raised its holdings in shares of ProAssurance by 5.6% in the fourth quarter. New York State Common Retirement Fund now owns 23,600 shares of the insurance provider’s stock valued at $325,000 after purchasing an additional 1,261 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of ProAssurance by 17.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,455 shares of the insurance provider’s stock worth $235,000 after purchasing an additional 1,842 shares in the last quarter. Finally, Swiss National Bank boosted its holdings in ProAssurance by 2.0% during the third quarter. Swiss National Bank now owns 118,700 shares of the insurance provider’s stock worth $2,242,000 after purchasing an additional 2,300 shares during the last quarter. 85.58% of the stock is currently owned by institutional investors and hedge funds.

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.