ProAssurance Corporation (PRA) Expected to Post Quarterly Sales of $214.65 Million

Equities research analysts predict that ProAssurance Corporation (NYSE:PRA) will announce sales of $214.65 million for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for ProAssurance’s earnings. The lowest sales estimate is $213.32 million and the highest is $215.32 million. ProAssurance reported sales of $220.27 million in the same quarter last year, which would suggest a negative year over year growth rate of 2.6%. The firm is expected to report its next earnings results on Wednesday, February 28th.

On average, analysts expect that ProAssurance will report full year sales of $214.65 million for the current fiscal year, with estimates ranging from $843.06 million to $845.05 million. For the next year, analysts anticipate that the company will report sales of $874.15 million per share, with estimates ranging from $857.68 million to $883.80 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for ProAssurance.

ProAssurance (NYSE:PRA) last posted its quarterly earnings results on Monday, November 6th. The insurance provider reported $0.45 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.09. ProAssurance had a return on equity of 6.75% and a net margin of 16.18%. The business had revenue of $228.50 million during the quarter, compared to the consensus estimate of $215.12 million. During the same period in the prior year, the company posted $0.46 EPS. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year.

Several research analysts have weighed in on PRA shares. Buckingham Research started coverage on ProAssurance in a research note on Monday, September 11th. They issued a “neutral” rating and a $54.00 price target for the company. Keefe, Bruyette & Woods restated a “hold” rating and issued a $60.00 price target on shares of ProAssurance in a research note on Monday, October 16th. Zacks Investment Research upgraded ProAssurance from a “sell” rating to a “hold” rating in a research note on Wednesday, November 8th. Finally, Boenning Scattergood restated a “hold” rating on shares of ProAssurance in a research note on Tuesday, November 7th. One research analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $60.75.

ProAssurance (PRA) opened at $61.55 on Friday. ProAssurance has a 52 week low of $50.70 and a 52 week high of $63.53. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $3,310.41, a P/E ratio of 26.95 and a beta of 0.57.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 10th. Stockholders of record on Thursday, December 21st will be given a dividend of $0.31 per share. The ex-dividend date of this dividend is Wednesday, December 20th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.01%. ProAssurance’s dividend payout ratio is currently 46.10%.

Several hedge funds and other institutional investors have recently bought and sold shares of PRA. FMR LLC boosted its position in shares of ProAssurance by 28.9% during the 2nd quarter. FMR LLC now owns 2,684,274 shares of the insurance provider’s stock valued at $163,204,000 after acquiring an additional 602,115 shares during the last quarter. Victory Capital Management Inc. boosted its position in shares of ProAssurance by 34.2% during the 3rd quarter. Victory Capital Management Inc. now owns 1,470,050 shares of the insurance provider’s stock valued at $80,338,000 after acquiring an additional 374,906 shares during the last quarter. Koch Industries Inc. bought a new position in shares of ProAssurance during the 2nd quarter valued at approximately $230,000. Robeco Institutional Asset Management B.V. boosted its position in shares of ProAssurance by 54.8% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 470,404 shares of the insurance provider’s stock valued at $28,600,000 after acquiring an additional 166,561 shares during the last quarter. Finally, Janus Henderson Group PLC bought a new position in shares of ProAssurance during the 2nd quarter valued at approximately $8,896,000. Hedge funds and other institutional investors own 80.16% of the company’s stock.

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

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