Wall Street analysts expect ProAssurance Co. (NYSE:PRA – Get Rating) to report $293.76 million in sales for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for ProAssurance’s earnings. The lowest sales estimate is $256.26 million and the highest is $365.81 million. ProAssurance posted sales of $258.87 million in the same quarter last year, which would indicate a positive year over year growth rate of 13.5%. The firm is expected to report its next earnings results on Monday, January 1st.
According to Zacks, analysts expect that ProAssurance will report full year sales of $1.13 billion for the current year, with estimates ranging from $1.01 billion to $1.29 billion. For the next year, analysts forecast that the firm will report sales of $1.15 billion, with estimates ranging from $1.01 billion to $1.29 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that cover ProAssurance.
ProAssurance (NYSE:PRA – Get Rating) last released its quarterly earnings data on Monday, May 9th. The insurance provider reported $0.14 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.03). ProAssurance had a return on equity of 5.42% and a net margin of 12.82%. The company had revenue of $283.10 million during the quarter, compared to analysts’ expectations of $281.72 million. During the same quarter in the previous year, the company posted $0.04 EPS. The company’s revenue for the quarter was up 28.7% on a year-over-year basis.
A number of equity research analysts have recently issued reports on the stock. Zacks Investment Research raised shares of ProAssurance from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a research note on Friday, April 8th. StockNews.com assumed coverage on shares of ProAssurance in a report on Thursday, March 31st. They set a “hold” rating for the company. Finally, TheStreet upgraded shares of ProAssurance from a “c” rating to a “b-” rating in a report on Friday, February 18th.
NYSE:PRA opened at $21.37 on Wednesday. The company’s 50-day moving average price is $25.42 and its 200-day moving average price is $24.66. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.30. The company has a market cap of $1.15 billion, a P/E ratio of 8.03 and a beta of 0.40. ProAssurance has a twelve month low of $20.00 and a twelve month high of $27.55.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 7th. Stockholders of record on Thursday, March 24th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Wednesday, March 23rd. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.94%. ProAssurance’s payout ratio is 7.52%.
Several institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. increased its holdings in shares of ProAssurance by 0.4% in the 4th quarter. BlackRock Inc. now owns 7,915,918 shares of the insurance provider’s stock valued at $200,272,000 after acquiring an additional 33,866 shares during the last quarter. Wellington Management Group LLP grew its stake in ProAssurance by 19.9% during the 3rd quarter. Wellington Management Group LLP now owns 2,421,840 shares of the insurance provider’s stock worth $57,592,000 after buying an additional 402,551 shares during the last quarter. American Century Companies Inc. grew its stake in ProAssurance by 68.2% during the 4th quarter. American Century Companies Inc. now owns 1,941,863 shares of the insurance provider’s stock worth $49,129,000 after buying an additional 787,399 shares during the last quarter. State Street Corp grew its stake in shares of ProAssurance by 1.4% in the fourth quarter. State Street Corp now owns 1,846,586 shares of the insurance provider’s stock worth $46,810,000 after purchasing an additional 25,268 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new position in shares of ProAssurance in the fourth quarter worth $39,025,000. 85.02% of the stock is currently owned by institutional investors.
ProAssurance Company Profile (GetRating)
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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