Analysts Anticipate ProAssurance Co. (NYSE:PRA) to Announce $0.13 EPS

Brokerages expect ProAssurance Co. (NYSE:PRA) to announce $0.13 earnings per share for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for ProAssurance’s earnings. The highest EPS estimate is $0.19 and the lowest is $0.09. ProAssurance posted earnings per share of $0.48 in the same quarter last year, which would suggest a negative year-over-year growth rate of 72.9%. The company is expected to announce its next earnings results after the market closes on Wednesday, August 7th.

According to Zacks, analysts expect that ProAssurance will report full-year earnings of $0.48 per share for the current year, with EPS estimates ranging from $0.40 to $0.60. For the next year, analysts expect that the company will post earnings of $0.62 per share, with EPS estimates ranging from $0.55 to $0.70. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research analysts that cover ProAssurance.

ProAssurance (NYSE:PRA) last posted its quarterly earnings data on Thursday, April 25th. The insurance provider reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.23). ProAssurance had a return on equity of 3.98% and a net margin of 7.01%. The business had revenue of $268.88 million for the quarter, compared to analyst estimates of $238.55 million. During the same period in the prior year, the firm posted $0.40 EPS. ProAssurance’s revenue for the quarter was up 33.8% on a year-over-year basis.

Several equities analysts recently weighed in on PRA shares. JMP Securities cut their price objective on ProAssurance from $50.00 to $45.00 and set a “market outperform” rating for the company in a research report on Wednesday, April 10th. ValuEngine cut Zumiez from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. Boenning Scattergood set a $63.00 price objective on Citizens Financial Services and gave the stock a “buy” rating in a research report on Friday, April 26th. Finally, Keefe, Bruyette & Woods cut ProAssurance from a “market perform” rating to an “underperform” rating and set a $33.00 price objective for the company. in a research report on Monday, May 20th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. ProAssurance presently has an average rating of “Hold” and a consensus price target of $44.20.

In related news, Director John J. Mcmahon, Jr. sold 933 shares of the business’s stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $36.19, for a total transaction of $33,765.27. The sale was disclosed in a document filed with the SEC, which is available through this link. Insiders own 1.70% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the stock. Public Employees Retirement System of Ohio grew its stake in shares of ProAssurance by 7.0% in the 4th quarter. Public Employees Retirement System of Ohio now owns 4,685 shares of the insurance provider’s stock valued at $190,000 after purchasing an additional 308 shares during the period. Oregon Public Employees Retirement Fund grew its stake in shares of ProAssurance by 1.8% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 20,772 shares of the insurance provider’s stock valued at $719,000 after purchasing an additional 375 shares during the period. Mason Street Advisors LLC grew its stake in shares of ProAssurance by 3.4% in the 1st quarter. Mason Street Advisors LLC now owns 17,226 shares of the insurance provider’s stock valued at $596,000 after purchasing an additional 569 shares during the period. Hsbc Holdings PLC grew its stake in shares of ProAssurance by 6.2% in the 4th quarter. Hsbc Holdings PLC now owns 10,020 shares of the insurance provider’s stock valued at $405,000 after purchasing an additional 581 shares during the period. Finally, Quadrant Capital Group LLC grew its stake in shares of ProAssurance by 375.0% in the 1st quarter. Quadrant Capital Group LLC now owns 855 shares of the insurance provider’s stock valued at $28,000 after purchasing an additional 675 shares during the period. Hedge funds and other institutional investors own 81.67% of the company’s stock.

Shares of NYSE PRA traded up $0.12 during trading hours on Friday, hitting $39.70. 317,665 shares of the company’s stock were exchanged, compared to its average volume of 292,052. ProAssurance has a 1-year low of $34.11 and a 1-year high of $49.47. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.37 and a quick ratio of 0.37. The stock has a market cap of $2.08 billion, a PE ratio of 26.87 and a beta of 0.55. The firm has a 50-day moving average of $37.64.

The company also recently declared a quarterly dividend, which was paid on Thursday, July 11th. Investors of record on Friday, June 14th were paid a dividend of $0.31 per share. The ex-dividend date was Thursday, June 13th. This represents a $1.24 annualized dividend and a yield of 3.12%. ProAssurance’s dividend payout ratio is 83.78%.

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, Segregated Portfolio Cell Reinsurance, and Lloyd's Syndicate segments.

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