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ProAssurance (NYSE:PRA – Get Rating) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday.
PRA has been the subject of a number of other reports. Piper Sandler lowered their price target on ProAssurance to $22.00 in a research note on Wednesday, November 16th. Truist Financial lowered their price target on ProAssurance from $25.00 to $23.00 in a research note on Monday, November 14th.
ProAssurance Trading Down 4.1 %
ProAssurance stock traded down $0.74 during trading hours on Friday, reaching $17.19. 1,276,328 shares of the company’s stock traded hands, compared to its average volume of 238,306. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.28 and a current ratio of 0.28. ProAssurance has a fifty-two week low of $16.90 and a fifty-two week high of $27.55. The firm has a market capitalization of $927.64 million, a price-to-earnings ratio of 53.72 and a beta of 0.32. The firm’s 50 day moving average is $20.09 and its 200-day moving average is $21.29.
ProAssurance (NYSE:PRA – Get Rating) last released its earnings results on Tuesday, November 8th. The insurance provider reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.26). ProAssurance had a net margin of 1.58% and a return on equity of 4.41%. The business had revenue of $288.20 million for the quarter, compared to analyst estimates of $288.12 million. On average, analysts predict that ProAssurance will post 0.46 earnings per share for the current year.
Institutional Trading of ProAssurance
A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in ProAssurance by 1.2% during the 3rd quarter. Vanguard Group Inc. now owns 6,140,790 shares of the insurance provider’s stock worth $119,806,000 after purchasing an additional 74,033 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in ProAssurance by 2.0% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 3,019,414 shares of the insurance provider’s stock worth $71,349,000 after purchasing an additional 60,057 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in ProAssurance by 7.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,978,667 shares of the insurance provider’s stock worth $38,601,000 after purchasing an additional 142,341 shares in the last quarter. American Century Companies Inc. increased its stake in ProAssurance by 1.3% during the 1st quarter. American Century Companies Inc. now owns 1,967,697 shares of the insurance provider’s stock worth $52,892,000 after purchasing an additional 25,834 shares in the last quarter. Finally, State Street Corp boosted its position in ProAssurance by 0.3% during the 3rd quarter. State Street Corp now owns 1,945,679 shares of the insurance provider’s stock worth $38,058,000 after acquiring an additional 6,345 shares during the last quarter. 87.31% of the stock is owned by institutional investors.
About ProAssurance
(Get Rating)
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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