ProAssurance Co. (NYSE:PRA) – Equities research analysts at SunTrust Banks lowered their Q4 2018 earnings estimates for ProAssurance in a research report issued to clients and investors on Tuesday, February 5th. SunTrust Banks analyst M. Hughes now expects that the insurance provider will earn $0.17 per share for the quarter, down from their prior forecast of $0.33. SunTrust Banks has a “Hold” rating and a $45.00 price objective on the stock.
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Other analysts have also issued reports about the company. Zacks Investment Research reaffirmed a “hold” rating on shares of ProAssurance in a research note on Wednesday, November 14th. Boenning Scattergood reaffirmed a “hold” rating on shares of ProAssurance in a research note on Tuesday, February 5th. Seven analysts have rated the stock with a hold rating and one has issued a buy rating to the company. ProAssurance currently has an average rating of “Hold” and an average target price of $49.40.
Shares of NYSE:PRA opened at $42.41 on Friday. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $2.27 billion, a PE ratio of 21.00 and a beta of 0.64. ProAssurance has a 1 year low of $34.95 and a 1 year high of $53.00.
Large investors have recently modified their holdings of the company. Strs Ohio boosted its stake in ProAssurance by 25.0% during the fourth quarter. Strs Ohio now owns 1,500 shares of the insurance provider’s stock worth $60,000 after buying an additional 300 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in ProAssurance by 95.2% during the third quarter. PNC Financial Services Group Inc. now owns 2,360 shares of the insurance provider’s stock worth $111,000 after buying an additional 1,151 shares during the last quarter. AdvisorNet Financial Inc acquired a new position in ProAssurance during the fourth quarter worth $150,000. Larson Financial Group LLC acquired a new position in ProAssurance during the fourth quarter worth $158,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in ProAssurance by 27.8% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,974 shares of the insurance provider’s stock worth $161,000 after buying an additional 865 shares during the last quarter. 84.25% of the stock is currently owned by hedge funds and other institutional investors.
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, and Lloyd's Syndicate segments. It offers 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 for employers, groups, and associations.
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