Citizens Jmp Downgrades ProAssurance (NYSE:PRA) to Market Perform

ProAssurance (NYSE:PRA) was downgraded by analysts at Citizens Jmp from an “outperform” rating to a “market perform” rating in a research report issued to clients and investors on Thursday,Briefing.com Automated Import reports.

Separately, StockNews.com began coverage on shares of ProAssurance in a research report on Tuesday. They issued a “hold” rating on the stock. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $18.67.

ProAssurance Stock Up 0.1 %

NYSE PRA opened at $23.37 on Thursday. The stock has a market capitalization of $1.20 billion, a P/E ratio of 28.16 and a beta of 0.21. ProAssurance has a 52 week low of $10.76 and a 52 week high of $23.48. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.28 and a current ratio of 0.28. The stock has a fifty day moving average of $16.73 and a 200-day moving average of $15.97.

ProAssurance (NYSE:PRA) last announced its quarterly earnings data on Monday, February 24th. The insurance provider reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.19. The firm had revenue of $287.52 million for the quarter, compared to analysts’ expectations of $274.56 million. ProAssurance had a net margin of 3.71% and a return on equity of 2.65%. On average, equities research analysts forecast that ProAssurance will post 0.8 EPS for the current year.

Institutional Investors Weigh In On ProAssurance

A number of hedge funds have recently modified their holdings of the business. Janus Henderson Group PLC boosted its holdings in shares of ProAssurance by 2,655.2% in the fourth quarter. Janus Henderson Group PLC now owns 645,358 shares of the insurance provider’s stock valued at $10,268,000 after buying an additional 621,935 shares during the period. Zacks Investment Management acquired a new position in shares of ProAssurance during the third quarter worth about $5,140,000. Arrowstreet Capital Limited Partnership grew its holdings in shares of ProAssurance by 92.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 690,871 shares of the insurance provider’s stock worth $10,992,000 after buying an additional 331,224 shares in the last quarter. Tudor Investment Corp ET AL acquired a new stake in ProAssurance in the 4th quarter valued at approximately $2,466,000. Finally, Dimensional Fund Advisors LP lifted its stake in ProAssurance by 4.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,703,953 shares of the insurance provider’s stock valued at $43,019,000 after acquiring an additional 123,232 shares in the last quarter. Institutional investors and hedge funds own 85.58% of the company’s stock.

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.