ProAssurance (NYSE:PRA) Downgraded by StockNews.com to Hold

ProAssurance (NYSE:PRA) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Friday.

ProAssurance Price Performance

PRA stock traded up $0.12 on Friday, hitting $23.14. 2,136,040 shares of the company’s stock traded hands, compared to its average volume of 322,610. ProAssurance has a 1-year low of $10.76 and a 1-year high of $23.29. The stock has a market cap of $1.18 billion, a price-to-earnings ratio of 27.88 and a beta of 0.21. The stock has a fifty day moving average of $15.40 and a 200-day moving average of $15.39. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.35.

ProAssurance (NYSE:PRA) last released its quarterly earnings results 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. ProAssurance had a net margin of 3.71% and a return on equity of 2.65%. The business had revenue of $287.52 million for the quarter, compared to analyst estimates of $274.56 million. On average, analysts forecast that ProAssurance will post 0.8 EPS for the current fiscal year.

Institutional Investors Weigh In On ProAssurance

Large investors have recently made changes to their positions in the company. Sterling Capital Management LLC raised its holdings in shares of ProAssurance by 859.4% during the fourth quarter. Sterling Capital Management LLC now owns 1,631 shares of the insurance provider’s stock valued at $26,000 after acquiring an additional 1,461 shares during the period. KBC Group NV raised its holdings in shares of ProAssurance by 75.4% during the fourth quarter. KBC Group NV now owns 4,184 shares of the insurance provider’s stock valued at $67,000 after acquiring an additional 1,798 shares during the period. Aquatic Capital Management LLC increased its stake in ProAssurance by 148.6% in the 4th quarter. Aquatic Capital Management LLC now owns 6,214 shares of the insurance provider’s stock valued at $99,000 after buying an additional 3,714 shares during the period. Point72 Asia Singapore Pte. Ltd. increased its stake in ProAssurance by 94.3% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 8,347 shares of the insurance provider’s stock valued at $126,000 after buying an additional 4,052 shares during the period. Finally, KLP Kapitalforvaltning AS acquired a new position in ProAssurance in the 4th quarter valued at approximately $150,000. 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.