FY2024 EPS Estimates for ProAssurance Co. (NYSE:PRA) Increased by Analyst

ProAssurance Co. (NYSE:PRA) – Investment analysts at Zacks Research upped their FY2024 earnings estimates for shares of ProAssurance in a research note issued on Wednesday, August 28th. Zacks Research analyst K. Dey now anticipates that the insurance provider will post earnings of $0.55 per share for the year, up from their prior estimate of $0.36. The consensus estimate for ProAssurance’s current full-year earnings is $0.58 per share. Zacks Research also issued estimates for ProAssurance’s Q1 2026 earnings at $0.16 EPS.

ProAssurance (NYSE:PRA) last issued its quarterly earnings results on Thursday, August 8th. The insurance provider reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.15. ProAssurance had a positive return on equity of 0.86% and a negative net margin of 2.00%. The firm had revenue of $290.30 million during the quarter, compared to analyst estimates of $235.61 million. During the same quarter in the previous year, the company posted $0.16 earnings per share. The company’s revenue was down .5% compared to the same quarter last year.

Several other research analysts also recently commented on the stock. Truist Financial decreased their price target on shares of ProAssurance from $16.00 to $14.00 and set a “hold” rating on the stock in a research note on Monday, August 12th. JMP Securities decreased their target price on shares of ProAssurance from $22.00 to $20.00 and set a “market outperform” rating on the stock in a research report on Wednesday, July 17th. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $16.33.

ProAssurance Stock Performance

Shares of NYSE PRA opened at $13.57 on Monday. The stock has a market cap of $692.23 million, a price-to-earnings ratio of -25.13 and a beta of 0.23. The stock’s 50-day moving average is $12.41 and its 200 day moving average is $12.98. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.38. ProAssurance has a 1-year low of $10.76 and a 1-year high of $19.25.

Hedge Funds Weigh In On ProAssurance

A number of large investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP raised its stake in shares of ProAssurance by 6.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,838,938 shares of the insurance provider’s stock valued at $39,150,000 after acquiring an additional 168,634 shares during the last quarter. Dana Investment Advisors Inc. increased its holdings in ProAssurance by 33.6% during the 2nd quarter. Dana Investment Advisors Inc. now owns 434,850 shares of the insurance provider’s stock valued at $5,314,000 after purchasing an additional 109,253 shares during the period. Bank of New York Mellon Corp raised its position in ProAssurance by 2.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 417,150 shares of the insurance provider’s stock valued at $5,098,000 after purchasing an additional 8,549 shares during the last quarter. American Century Companies Inc. raised its position in ProAssurance by 4.7% during the 2nd quarter. American Century Companies Inc. now owns 305,698 shares of the insurance provider’s stock valued at $3,736,000 after purchasing an additional 13,650 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its position in shares of ProAssurance by 2.4% in the 2nd quarter. Assenagon Asset Management S.A. now owns 253,649 shares of the insurance provider’s stock worth $3,100,000 after buying an additional 6,062 shares during the last quarter. 85.58% of the stock is owned by hedge funds and other institutional investors.

ProAssurance Company Profile

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.