ProAssurance Corporation (PRA) Rating Reiterated by Boenning Scattergood

Boenning Scattergood restated their hold rating on shares of ProAssurance Corporation (NYSE:PRA) in a research note released on Tuesday, August 1st. Boenning Scattergood also issued estimates for ProAssurance Corporation’s Q2 2017 earnings at $0.39 EPS, FY2017 earnings at $2.11 EPS, Q1 2018 earnings at $0.48 EPS, Q2 2018 earnings at $0.44 EPS, Q3 2018 earnings at $0.45 EPS and Q4 2018 earnings at $0.57 EPS.

PRA has been the subject of several other research reports. Zacks Investment Research lowered shares of ProAssurance Corporation from a buy rating to a hold rating in a report on Monday, June 5th. BidaskClub lowered shares of ProAssurance Corporation from a sell rating to a strong sell rating in a report on Monday, July 31st. Two equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the company. The company has an average rating of Hold and an average price target of $63.33.

ProAssurance Corporation (NYSE PRA) opened at 54.45 on Tuesday. The firm has a market cap of $2.91 billion, a PE ratio of 19.45 and a beta of 0.51. The company’s 50-day moving average is $59.09 and its 200-day moving average is $59.23. ProAssurance Corporation has a one year low of $50.50 and a one year high of $63.53.

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

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In related news, insider Howard H. Friedman acquired 2,000 shares of ProAssurance Corporation stock in a transaction dated Wednesday, August 9th. The stock was bought at an average price of $55.00 per share, with a total value of $110,000.00. Following the transaction, the insider now directly owns 259,573 shares in the company, valued at approximately $14,276,515. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Edward Lewis Rand, Jr. sold 3,155 shares of the firm’s stock in a transaction that occurred on Monday, June 26th. The stock was sold at an average price of $60.11, for a total transaction of $189,647.05. Following the sale, the insider now directly owns 120,014 shares of the company’s stock, valued at approximately $7,214,041.54. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 28,000 shares of company stock valued at $1,703,438. Insiders own 1.80% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. increased its stake in shares of ProAssurance Corporation by 2.4% in the second quarter. BlackRock Inc. now owns 5,318,451 shares of the insurance provider’s stock valued at $323,363,000 after buying an additional 124,034 shares during the period. Vanguard Group Inc. increased its stake in shares of ProAssurance Corporation by 1.0% in the second quarter. Vanguard Group Inc. now owns 5,051,135 shares of the insurance provider’s stock valued at $307,108,000 after buying an additional 50,372 shares during the period. FMR LLC increased its stake in ProAssurance Corporation by 28.9% in the second quarter. FMR LLC now owns 2,684,274 shares of the insurance provider’s stock valued at $163,204,000 after buying an additional 602,115 shares during the last quarter. JPMorgan Chase & Co. increased its stake in ProAssurance Corporation by 2.0% in the second quarter. JPMorgan Chase & Co. now owns 2,118,413 shares of the insurance provider’s stock valued at $128,799,000 after buying an additional 41,574 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in ProAssurance Corporation by 3.4% in the first quarter. Dimensional Fund Advisors LP now owns 1,700,841 shares of the insurance provider’s stock valued at $102,476,000 after buying an additional 55,591 shares during the last quarter. 81.42% of the stock is owned by institutional investors.

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.

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