$ 0.13 in earnings per share expected for ProAssurance Co. (NYSE: PRA) this quarter
Wall Street analysts expect ProAssurance Co. (NYSE: PRA) to report earnings per share (EPS) of $ 0.13 for the current fiscal quarter, Zacks Investment Research reports. Four analysts provided earnings estimates for ProAssurance. The highest EPS estimate is $ 0.20 and the lowest is $ 0.06. ProAssurance reported earnings per share of $ 0.05 in the same quarter last year, indicating a positive year-over-year growth rate of 160%. The company is expected to release its next quarterly results on Thursday, November 4.
On average, analysts expect ProAssurance to report annual earnings of $ 0.73 per share for the current year, with EPS estimates ranging from $ 0.35 to $ 1.02. For the next fiscal year, analysts predict the company will post earnings of $ 0.65 per share, with EPS estimates ranging from $ 0.45 to $ 0.95. Zacks earnings per share averages are an average based on a survey of research analysts who cover ProAssurance.
PRA has been the subject of several analyst reports. TheStreet raised ProAssurance from a “d +” rating to a “c-” rating in a report released on Tuesday, May 25th. Piper Sandler downgraded ProAssurance shares from a “neutral” to an “overweight” rating and raised her price target for the company from $ 23.00 to $ 26.00 in a research note on Tuesday 10 August. Two equity research analysts rated the stock with a conservation rating and two issued a buy rating for the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $ 26.50.
A number of hedge funds and other institutional investors have recently changed their positions in the stock. Marshall Wace North America LP purchased a new position in ProAssurance during the first quarter valued at approximately $ 42,000. First Mercantile Trust Co. acquired a new equity interest in ProAssurance during the second quarter valued at approximately $ 62,000. Royal Bank of Canada increased its position in shares of ProAssurance by 43.1% during the second quarter. Royal Bank of Canada now owns 6,083 shares of the insurance provider valued at $ 138,000 after purchasing an additional 1,833 shares during the period. Mutual of America Capital Management LLC increased its stake in ProAssurance by 6.6% in the second quarter. Mutual of America Capital Management LLC now owns 7,670 shares of the insurance provider valued at $ 174,000 after acquiring an additional 473 shares in the last quarter. Finally, Jane Street Group LLC purchased a new position in ProAssurance in the first quarter valued at approximately $ 251,000. 74.70% of the capital is held by institutional investors.
NYSE: PRA shares traded down $ 0.24 in Friday’s session, reaching $ 24.06. The company’s shares had a trading volume of 194,252 shares, compared to its average volume of 231,180. ProAssurance has a 12-month low of $ 13.56 and a 12-month high of $ 29.15. The company has a current ratio of 0.32, a quick ratio of 0.32, and a debt ratio of 0.32. The stock has a market cap of $ 1.30 billion, a PE ratio of -35.91 and a beta of 0.30. The company’s 50-day simple moving average is $ 22.92 and its two-hundred-day simple moving average is $ 24.65.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 8. Shareholders of record on Friday, September 24 will receive a dividend of $ 0.05. This represents a dividend of $ 0.20 on an annualized basis and a dividend yield of 0.83%. The ex-dividend date of this dividend is Thursday, September 23. ProAssurance’s dividend payout ratio is currently -38.46%.
Company Profile ProAssurance
ProAssurance Corp. is a holding company. It operates in the following segments: Specialty P&C Insurance, Workers’ Compensation Insurance, Lloyd’s Syndicate, Separate Portfolio Unit Reinsurance and Corporate. The Specialized Property & Casualty segment includes professional liability activities and medical technology and life sciences activities.
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