ProAssurance (NYSE:PRA) Downgraded by Citizens Jmp to “Market Perform”

ProAssurance (NYSE:PRA) was downgraded by Citizens Jmp from an “outperform” rating to a “market perform” rating in a research report issued on Thursday,Briefing.com Automated Import reports.

Separately, StockNews.com assumed coverage on shares of ProAssurance in a research report on Tuesday. They set a “hold” rating on the stock. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $18.67.

ProAssurance Price Performance

NYSE:PRA opened at $23.37 on Thursday. ProAssurance has a 52-week low of $10.76 and a 52-week high of $23.48. The company has a market cap of $1.20 billion, a P/E ratio of 28.16 and a beta of 0.21. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.28 and a current ratio of 0.28. The stock’s 50-day simple moving average is $16.73 and its 200 day simple moving average is $15.97.

ProAssurance (NYSE:PRA) last posted its quarterly earnings results on Monday, February 24th. The insurance provider reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.19. ProAssurance had a return on equity of 2.65% and a net margin of 3.71%. The firm had revenue of $287.52 million for the quarter, compared to analyst estimates of $274.56 million. As a group, sell-side analysts forecast that ProAssurance will post 0.8 EPS for the current fiscal year.

Institutional Trading of ProAssurance

A number of hedge funds have recently made changes to their positions in the business. Janus Henderson Group PLC increased its holdings in shares of ProAssurance by 2,655.2% during the 4th quarter. Janus Henderson Group PLC now owns 645,358 shares of the insurance provider’s stock worth $10,268,000 after acquiring an additional 621,935 shares during the last quarter. Zacks Investment Management acquired a new position in shares of ProAssurance in the third quarter valued at $5,140,000. Arrowstreet Capital Limited Partnership increased its holdings in shares of ProAssurance by 92.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 690,871 shares of the insurance provider’s stock valued at $10,992,000 after purchasing an additional 331,224 shares during the last quarter. Tudor Investment Corp ET AL bought a new position in shares of ProAssurance in the fourth quarter valued at about $2,466,000. Finally, Dimensional Fund Advisors LP lifted its stake in shares of ProAssurance by 4.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,703,953 shares of the insurance provider’s stock worth $43,019,000 after buying an additional 123,232 shares during the last quarter. 85.58% of the stock is owned by institutional investors and hedge funds.

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.