ProAssurance (NYSE:PRA) Announces Earnings Results

ProAssurance (NYSE:PRA) released its earnings results on Monday. The insurance provider reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.04, Briefing.com reports. The company had revenue of $284.97 million for the quarter, compared to the consensus estimate of $233.62 million. ProAssurance had a negative return on equity of 0.53% and a negative net margin of 3.39%. ProAssurance’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter last year, the business posted ($0.15) EPS.

ProAssurance Price Performance

NYSE PRA opened at $14.72 on Thursday. The stock has a market capitalization of $750.26 million, a P/E ratio of -19.89 and a beta of 0.21. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.27 and a current ratio of 0.27. The business’s fifty day moving average is $12.94 and its two-hundred day moving average is $13.52. ProAssurance has a 1 year low of $11.76 and a 1 year high of $19.38.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on PRA. Piper Sandler cut their price target on ProAssurance from $16.00 to $15.00 and set an “overweight” rating on the stock in a report on Monday, March 4th. Truist Financial raised their price target on ProAssurance from $14.00 to $16.00 and gave the stock a “hold” rating in a report on Wednesday. Finally, JMP Securities reissued a “market outperform” rating and issued a $22.00 price target on shares of ProAssurance in a report on Monday, April 15th. Two analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, ProAssurance presently has an average rating of “Moderate Buy” and an average target price of $17.67.

About ProAssurance

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.