Brokerages expect ProAssurance Co. (NYSE:PRA) to report earnings of $0.41 per share for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for ProAssurance’s earnings. The lowest EPS estimate is $0.38 and the highest is $0.45. ProAssurance posted earnings of $0.40 per share in the same quarter last year, which would indicate a positive year over year growth rate of 2.5%. The firm is expected to issue its next quarterly earnings results on Monday, August 6th.
On average, analysts expect that ProAssurance will report full year earnings of $1.77 per share for the current fiscal year, with EPS estimates ranging from $1.65 to $1.95. For the next year, analysts expect that the company will report earnings of $1.72 per share, with EPS estimates ranging from $1.60 to $1.90. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that cover ProAssurance.
Get ProAssurance alerts:ProAssurance (NYSE:PRA) last released its quarterly earnings results on Thursday, May 3rd. The insurance provider reported $0.40 EPS for the quarter, missing the Zacks’ consensus estimate of $0.44 by ($0.04). The business had revenue of $201.03 million for the quarter, compared to the consensus estimate of $219.42 million. ProAssurance had a return on equity of 5.64% and a net margin of 9.20%. The firm’s revenue was down 9.9% on a year-over-year basis. During the same quarter last year, the company earned $0.62 earnings per share.
A number of equities research analysts recently commented on PRA shares. Raymond James upgraded ProAssurance from an “underperform” rating to a “market perform” rating in a research report on Wednesday, February 28th. TheStreet lowered ProAssurance from a “b” rating to a “c+” rating in a research report on Friday, March 9th. Keefe, Bruyette & Woods set a $52.00 price target on ProAssurance and gave the stock a “hold” rating in a research report on Tuesday, April 10th. SunTrust Banks lowered ProAssurance from a “buy” rating to a “hold” rating in a research report on Wednesday, April 4th. Finally, Zacks Investment Research lowered ProAssurance from a “hold” rating to a “strong sell” rating in a research report on Monday, February 26th. Three equities research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $54.75.
ProAssurance traded up $0.90, reaching $36.70, during trading hours on Friday, according to MarketBeat Ratings. 5,223,704 shares of the company’s stock were exchanged, compared to its average volume of 413,031. The firm has a market cap of $1.92 billion, a PE ratio of 18.17 and a beta of 0.50. ProAssurance has a one year low of $35.60 and a one year high of $63.45. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.39 and a quick ratio of 0.39.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 10th. Stockholders of record on Friday, June 22nd will be paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date of this dividend is Thursday, June 21st. ProAssurance’s dividend payout ratio (DPR) is currently 61.39%.
In related news, Director Magnus James Gorrie purchased 2,000 shares of the business’s stock in a transaction dated Wednesday, June 13th. The shares were bought at an average price of $39.20 per share, with a total value of $78,400.00. Following the purchase, the director now directly owns 14,231 shares in the company, valued at approximately $557,855.20. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.80% of the company’s stock.
Several hedge funds have recently bought and sold shares of PRA. Carillon Tower Advisers Inc. acquired a new position in shares of ProAssurance in the 4th quarter valued at $37,292,000. Dimensional Fund Advisors LP raised its stake in ProAssurance by 16.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,820,449 shares of the insurance provider’s stock worth $88,383,000 after buying an additional 256,834 shares during the period. Victory Capital Management Inc. raised its stake in ProAssurance by 11.5% during the 1st quarter. Victory Capital Management Inc. now owns 1,743,480 shares of the insurance provider’s stock worth $84,646,000 after buying an additional 180,270 shares during the period. BlackRock Inc. raised its stake in ProAssurance by 3.1% during the 4th quarter. BlackRock Inc. now owns 5,573,593 shares of the insurance provider’s stock worth $318,531,000 after buying an additional 169,585 shares during the period. Finally, Goldman Sachs Group Inc. raised its stake in ProAssurance by 7.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,211,339 shares of the insurance provider’s stock worth $69,229,000 after buying an additional 79,302 shares during the period. 81.50% of the stock is currently owned by institutional investors.
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, 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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