ProAssurance (NYSE:PRA) Lowered to “Hold” Rating by StockNews.com

StockNews.com lowered shares of ProAssurance (NYSE:PRA) from a buy rating to a hold rating in a research report report published on Friday morning.

ProAssurance Stock Performance

Shares of PRA opened at $23.14 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.28 and a quick ratio of 0.28. 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 company has a 50-day moving average of $15.40 and a two-hundred day moving average of $15.41. ProAssurance has a one year low of $10.76 and a one year high of $23.29.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP raised its stake in shares of ProAssurance by 3.0% in the third quarter. Wellington Management Group LLP now owns 3,164,085 shares of the insurance provider’s stock valued at $47,588,000 after acquiring an additional 91,987 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of ProAssurance by 4.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,703,953 shares of the insurance provider’s stock valued at $43,019,000 after buying an additional 123,232 shares during the period. State Street Corp lifted its position in ProAssurance by 1.8% in the 3rd quarter. State Street Corp now owns 1,968,754 shares of the insurance provider’s stock valued at $29,610,000 after acquiring an additional 34,247 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in ProAssurance by 0.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,316,249 shares of the insurance provider’s stock valued at $20,678,000 after acquiring an additional 4,814 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its position in ProAssurance by 92.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 690,871 shares of the insurance provider’s stock worth $10,992,000 after buying an additional 331,224 shares in the last quarter. Institutional investors own 85.58% of the company’s stock.

ProAssurance Company Profile

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.