ProAssurance Corporation (NYSE:PRA) Releases Q2 Earnings Guidance

ProAssurance Corporation (NYSE:PRA) updated its second quarter earnings guidance on Tuesday. The company provided EPS guidance of $0.38-0.41 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.54.

A number of equities analysts have issued reports on the company. Boenning Scattergood reiterated a hold rating on shares of ProAssurance Corporation in a research report on Tuesday, August 8th. Zacks Investment Research downgraded ProAssurance Corporation from a hold rating to a sell rating in a research report on Wednesday, August 2nd. BidaskClub downgraded ProAssurance Corporation from a sell rating to a strong sell rating in a research report on Monday, July 31st. Finally, Keefe, Bruyette & Woods assumed coverage on ProAssurance Corporation in a research report on Monday, July 17th. They set a market perform rating and a $61.00 price target on the stock. Two research analysts have rated the stock with a sell rating and three have given a hold rating to the stock. ProAssurance Corporation has an average rating of Hold and a consensus price target of $63.33.

Shares of ProAssurance Corporation (PRA) opened at 54.45 on Friday. The firm has a market cap of $2.91 billion, a PE ratio of 19.45 and a beta of 0.51. ProAssurance Corporation has a 12-month low of $50.50 and a 12-month high of $63.53. The company has a 50 day moving average price of $59.09 and a 200 day moving average price of $59.23.

ProAssurance Corporation (NYSE:PRA) last posted its earnings results on Monday, August 7th. The insurance provider reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.01. ProAssurance Corporation had a return on equity of 6.59% and a net margin of 16.80%. The firm had revenue of $205.58 million for the quarter, compared to analyst estimates of $207.14 million. During the same quarter in the prior year, the company earned $0.67 EPS. ProAssurance Corporation’s revenue was down 4.3% on a year-over-year basis. On average, analysts forecast that ProAssurance Corporation will post $2.14 earnings per share for the current fiscal year.

In related news, insider Edward Lewis Rand, Jr. sold 13,845 shares of the stock in a transaction on Wednesday, June 28th. The stock was sold at an average price of $60.41, for a total value of $836,376.45. Following the completion of the sale, the insider now directly owns 117,079 shares in the company, valued at approximately $7,072,742.39. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Edward Lewis Rand, Jr. sold 3,155 shares of the company’s stock in a transaction dated Monday, June 26th. The shares were sold at an average price of $60.11, for a total transaction of $189,647.05. Following the completion of the transaction, the insider now directly owns 120,014 shares of the company’s stock, valued at $7,214,041.54. The disclosure for this sale can be found here. In the last three months, insiders have sold 28,000 shares of company stock worth $1,703,438. Corporate insiders own 1.80% of the company’s stock.

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ProAssurance Corporation Company Profile

ProAssurance Corporation (ProAssurance) is a holding company for property and casualty insurance companies. The Company provides 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.

Earnings History and Estimates for ProAssurance Corporation (NYSE:PRA)

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