ProAssurance (PRA) Earns Hold Rating from Keefe, Bruyette & Woods

Keefe, Bruyette & Woods reaffirmed their hold rating on shares of ProAssurance (NYSE:PRA) in a research report released on Wednesday. They currently have a $61.00 price target on the insurance provider’s stock.

PRA has been the subject of several other reports. Zacks Investment Research raised shares of ProAssurance from a sell rating to a hold rating in a research note on Wednesday, November 8th. Boenning Scattergood reaffirmed a hold rating on shares of ProAssurance in a research note on Tuesday, November 7th. Finally, Buckingham Research started coverage on shares of ProAssurance in a research note on Monday, September 11th. They set a neutral rating and a $54.00 target price for the company. One analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. The stock presently has a consensus rating of Hold and an average price target of $61.00.

ProAssurance (NYSE:PRA) opened at $61.20 on Wednesday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.40 and a current ratio of 0.40. The company has a market cap of $3,285.04, a price-to-earnings ratio of 26.74 and a beta of 0.58. ProAssurance has a one year low of $50.70 and a one year high of $63.53.

ProAssurance (NYSE:PRA) last posted its quarterly earnings data on Monday, November 6th. The insurance provider reported $0.45 EPS for the quarter, topping the consensus estimate of $0.36 by $0.09. The company had revenue of $228.50 million during the quarter, compared to analyst estimates of $215.12 million. ProAssurance had a net margin of 16.18% and a return on equity of 6.75%. ProAssurance’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.46 earnings per share. equities analysts anticipate that ProAssurance will post 2.09 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 10th. Stockholders of record on Thursday, December 21st will be paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date is Wednesday, December 20th. ProAssurance’s dividend payout ratio is currently 46.10%.

Several institutional investors and hedge funds have recently modified their holdings of PRA. FMR LLC increased its holdings in shares of ProAssurance by 28.9% during the second quarter. FMR LLC now owns 2,684,274 shares of the insurance provider’s stock valued at $163,204,000 after acquiring an additional 602,115 shares in the last quarter. Victory Capital Management Inc. increased its stake in shares of ProAssurance by 34.2% in the 3rd quarter. Victory Capital Management Inc. now owns 1,470,050 shares of the insurance provider’s stock worth $80,338,000 after acquiring an additional 374,906 shares during the last quarter. Koch Industries Inc. acquired a new stake in shares of ProAssurance in the 2nd quarter worth $230,000. Robeco Institutional Asset Management B.V. increased its stake in shares of ProAssurance by 54.8% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 470,404 shares of the insurance provider’s stock worth $28,600,000 after acquiring an additional 166,561 shares during the last quarter. Finally, Janus Henderson Group PLC acquired a new stake in shares of ProAssurance in the 2nd quarter worth $8,896,000. 80.23% of the stock is owned by hedge funds and other institutional investors.

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About ProAssurance

ProAssurance Corporation (ProAssurance) is a holding company for property and casualty insurance companies. The Company provides professional liability insurance for healthcare professionals and facilities, professional liability insurance for attorneys, liability insurance for medical technology and life sciences risks, and workers’ compensation insurance.

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