ProAssurance (NYSE:PRA) Reaches New 12-Month High – What’s Next?

by · The Cerbat Gem

Shares of ProAssurance Corporation (NYSE:PRA – Get Free Report) reached a new 52-week high on Friday . The company traded as high as $24.41 and last traded at $24.2340, with a volume of 37683 shares trading hands. The stock had previously closed at $24.16.

Analyst Ratings Changes

Several equities research analysts recently issued reports on PRA shares. Zacks Research lowered shares of ProAssurance from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 5th. Wall Street Zen raised shares of ProAssurance to a “sell” rating in a research note on Saturday, November 22nd. Finally, Weiss Ratings restated a “hold (c)” rating on shares of ProAssurance in a research note on Wednesday, October 8th. Five research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, ProAssurance currently has an average rating of “Reduce” and an average price target of $25.00.

View Our Latest Stock Analysis on PRA

ProAssurance Stock Up 0.4%

The business has a 50-day moving average of $24.03 and a 200 day moving average of $23.74. The company has a market capitalization of $1.25 billion, a PE ratio of 37.30 and a beta of 0.11. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.28 and a quick ratio of 0.28.

ProAssurance (NYSE:PRA – Get Free Report) last issued its quarterly earnings data on Friday, May 20th. The insurance provider reported $0.04 earnings per share (EPS) for the quarter. ProAssurance had a return on equity of 4.78% and a net margin of 3.01%.The business had revenue of $220.02 million for the quarter. Equities research analysts predict that ProAssurance Corporation will post 0.8 earnings per share for the current year.

Institutional Trading of ProAssurance

Hedge funds have recently made changes to their positions in the business. Russell Investments Group Ltd. grew its position in ProAssurance by 356.2% in the second quarter. Russell Investments Group Ltd. now owns 1,405 shares of the insurance provider’s stock worth $32,000 after acquiring an additional 1,097 shares in the last quarter. Quantbot Technologies LP purchased a new position in shares of ProAssurance in the 1st quarter worth approximately $47,000. Cornerstone Planning Group LLC increased its position in shares of ProAssurance by 12,152.2% during the 3rd quarter. Cornerstone Planning Group LLC now owns 2,818 shares of the insurance provider’s stock valued at $68,000 after purchasing an additional 2,795 shares during the last quarter. GAMMA Investing LLC increased its position in shares of ProAssurance by 50.7% during the 2nd quarter. GAMMA Investing LLC now owns 3,123 shares of the insurance provider’s stock valued at $71,000 after purchasing an additional 1,050 shares during the last quarter. Finally, PenderFund Capital Management Ltd. purchased a new stake in ProAssurance during the 1st quarter valued at $119,000. 85.58% of the stock is currently owned by hedge funds and other institutional investors.

ProAssurance Company Profile

(Get Free Report)

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.

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