ProAssurance (NYSE:PRA – Free Report) had its price target increased by stock analysts at Piper Sandler from $15.00 to $16.00 in a research note issued on Thursday, The Fly reports. Piper Sandler’s price objective would suggest a potential upside of 4.99% from the company’s previous close.
A number of other equities analysts have also weighed in on the stock. Truist Financial decreased their price target on shares of ProAssurance from $22.00 to $16.00 in a report on Wednesday, May 17th. StockNews.com initiated coverage on shares of ProAssurance in a report on Thursday, May 18th. They issued a “hold” rating on the stock.
ProAssurance Trading Down 1.7 %
Shares of PRA stock opened at $15.24 on Thursday. ProAssurance has a twelve month low of $11.87 and a twelve month high of $24.50. The firm has a 50-day moving average price of $14.73 and a 200 day moving average price of $17.24. The company has a market capitalization of $823.42 million, a price-to-earnings ratio of -304.74 and a beta of 0.46. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.38.
ProAssurance (NYSE:PRA – Free Report) last released its earnings results on Tuesday, May 9th. The insurance provider reported ($0.15) earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.30). The business had revenue of $272.70 million for the quarter, compared to analysts’ expectations of $283.40 million. ProAssurance had a positive return on equity of 0.78% and a negative net margin of 0.28%. The business’s quarterly revenue was down 3.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.14 earnings per share. Research analysts forecast that ProAssurance will post 0.26 earnings per share for the current fiscal year.
Institutional Investors Weigh In On ProAssurance
Several hedge funds and other institutional investors have recently bought and sold shares of the business. Lazard Asset Management LLC acquired a new stake in ProAssurance in the first quarter valued at $31,000. Point72 Middle East FZE acquired a new stake in shares of ProAssurance during the fourth quarter worth $25,000. Tower Research Capital LLC TRC lifted its position in shares of ProAssurance by 85.1% in the 1st quarter. Tower Research Capital LLC TRC now owns 4,541 shares of the insurance provider’s stock worth $84,000 after buying an additional 2,088 shares during the last quarter. Engineers Gate Manager LP acquired a new position in shares of ProAssurance in the 1st quarter valued at about $251,000. Finally, Schonfeld Strategic Advisors LLC bought a new stake in shares of ProAssurance during the 1st quarter valued at about $190,000. 85.54% of the stock is currently owned by hedge funds and other institutional investors.
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, Segregated Portfolio Cell Reinsurance, and Lloyd’s Syndicates segments.