ProAssurance Co. (NYSE:PRA) has received a consensus recommendation of “Hold” from the seven ratings firms that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $41.75.
Several research firms have commented on PRA. Boenning Scattergood reiterated a “hold” rating on shares of ProAssurance in a research note on Friday, April 26th. Keefe, Bruyette & Woods lowered shares of ProAssurance from a “market perform” rating to an “underperform” rating and set a $33.00 price objective for the company. in a research note on Monday, May 20th. JMP Securities reduced their target price on shares of ProAssurance from $50.00 to $45.00 and set a “market outperform” rating for the company in a research report on Wednesday, April 10th. Finally, ValuEngine downgraded shares of ProAssurance from a “buy” rating to a “hold” rating in a research report on Tuesday, July 2nd.
PRA opened at $37.87 on Wednesday. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.20. ProAssurance has a fifty-two week low of $34.11 and a fifty-two week high of $49.47. The firm has a market cap of $2.06 billion, a price-to-earnings ratio of 25.59 and a beta of 0.55. The stock has a 50-day simple moving average of $37.67.
In related news, Director John J. Mcmahon, Jr. sold 933 shares of ProAssurance stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $36.19, for a total value of $33,765.27. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.70% of the stock is owned by company insiders.
Institutional investors have recently made changes to their positions in the business. Quadrant Capital Group LLC grew its holdings in ProAssurance by 375.0% in the 1st quarter. Quadrant Capital Group LLC now owns 855 shares of the insurance provider’s stock worth $28,000 after acquiring an additional 675 shares during the last quarter. Versant Capital Management Inc grew its holdings in ProAssurance by 43.4% in the 2nd quarter. Versant Capital Management Inc now owns 879 shares of the insurance provider’s stock worth $31,000 after acquiring an additional 266 shares during the last quarter. Marshall Wace North America L.P. bought a new stake in ProAssurance in the 1st quarter worth $42,000. Twin Tree Management LP bought a new stake in ProAssurance in the 1st quarter worth $63,000. Finally, Larson Financial Group LLC grew its holdings in ProAssurance by 10.5% in the 2nd quarter. Larson Financial Group LLC now owns 4,314 shares of the insurance provider’s stock worth $156,000 after acquiring an additional 410 shares during the last quarter. 81.28% of the stock is currently owned by institutional investors and hedge funds.
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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