ProAssurance Corporation (NYSE:PRA) updated its second quarter earnings guidance on Tuesday. The company provided EPS guidance of $0.38-0.41 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.54.
A number of equities research analysts have issued reports on the company. BidaskClub downgraded ProAssurance Corporation from a hold rating to a sell rating in a research note on Wednesday, July 19th. Zacks Investment Research raised ProAssurance Corporation from a sell rating to a hold rating in a report on Monday, May 1st. Boenning Scattergood reaffirmed a hold rating on shares of ProAssurance Corporation in a report on Tuesday, August 8th. Finally, Keefe, Bruyette & Woods began coverage on ProAssurance Corporation in a report on Monday, July 17th. They set a market perform rating and a $61.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating and three have given a hold rating to the stock. The stock currently has an average rating of Hold and a consensus price target of $63.33.
ProAssurance Corporation (NYSE:PRA) opened at 54.45 on Friday. ProAssurance Corporation has a 52-week low of $50.50 and a 52-week high of $63.53. The stock’s 50 day moving average price is $59.09 and its 200-day moving average price is $59.23. The company has a market cap of $2.91 billion, a P/E ratio of 19.45 and a beta of 0.51.
ProAssurance Corporation (NYSE:PRA) last announced its quarterly earnings results on Monday, August 7th. The insurance provider reported $0.40 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.01. The company had revenue of $205.58 million during the quarter, compared to the consensus estimate of $207.14 million. ProAssurance Corporation had a return on equity of 6.59% and a net margin of 16.80%. ProAssurance Corporation’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.67 EPS. On average, equities analysts predict that ProAssurance Corporation will post $2.14 earnings per share for the current fiscal year.
In other news, insider Neil Frank B. O bought 2,500 shares of ProAssurance Corporation stock in a transaction dated Friday, August 11th. The stock was acquired at an average cost of $54.75 per share, with a total value of $136,875.00. Following the acquisition, the insider now owns 101,931 shares of the company’s stock, valued at $5,580,722.25. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Edward Lewis Rand, Jr. sold 13,845 shares of the company’s stock in a transaction that occurred on Wednesday, June 28th. The shares were sold at an average price of $60.41, for a total value of $836,376.45. Following the sale, the insider now directly owns 117,079 shares of the company’s stock, valued at $7,072,742.39. The disclosure for this sale can be found here. Insiders have sold a total of 28,000 shares of company stock valued at $1,703,438 over the last ninety days. 1.80% of the stock is owned by company insiders.
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ProAssurance Corporation Company Profile
ProAssurance Corporation (ProAssurance) is a holding company for property and casualty insurance companies. The Company provides 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.
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