ProAssurance (NYSE:PRA) Posts Quarterly Earnings Results, Beats Expectations By $0.19 EPS

ProAssurance (NYSE:PRA) announced its quarterly earnings data on Monday. The insurance provider reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.19, Zacks reports. ProAssurance had a net margin of 3.71% and a return on equity of 2.65%. The business had revenue of $287.52 million for the quarter, compared to analysts’ expectations of $274.56 million.

ProAssurance Stock Down 3.4 %

Shares of PRA opened at $15.59 on Wednesday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.28 and a current ratio of 0.28. ProAssurance has a 52 week low of $10.76 and a 52 week high of $17.79. The stock has a market capitalization of $797.42 million, a price-to-earnings ratio of 18.84 and a beta of 0.27. The stock has a fifty day moving average of $15.14 and a 200-day moving average of $15.03.

Analysts Set New Price Targets

A number of brokerages have weighed in on PRA. Piper Sandler downgraded ProAssurance from an “overweight” rating to a “neutral” rating and set a $18.00 target price on the stock. in a report on Monday, November 11th. StockNews.com raised ProAssurance from a “hold” rating to a “buy” rating in a research note on Thursday, December 26th. Finally, Truist Financial boosted their target price on ProAssurance from $14.00 to $18.00 and gave the stock a “hold” rating in a research note on Tuesday, November 12th.

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 Insurance, and Segregated Portfolio Cell Reinsurance segments. It offers professional liability insurance to healthcare providers and institutions, and attorneys and their firms; medical technology liability insurance to medical technology and life sciences companies; and custom alternative risk solutions, including assumed reinsurance, loss portfolio transfers, and captive cell programs for healthcare professional liability insureds.