$0.40 Earnings Per Share Expected for ProAssurance Co. (PRA) This Quarter

Equities research analysts expect ProAssurance Co. (NYSE:PRA) to report $0.40 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for ProAssurance’s earnings, with estimates ranging from $0.34 to $0.47. ProAssurance posted earnings of $0.45 per share in the same quarter last year, which would suggest a negative year over year growth rate of 11.1%. The firm is expected to announce its next earnings report after the market closes on Tuesday, November 6th.

According to Zacks, analysts expect that ProAssurance will report full year earnings of $1.82 per share for the current fiscal year, with EPS estimates ranging from $1.75 to $1.90. For the next financial year, analysts anticipate that the firm will report earnings of $1.65 per share, with EPS estimates ranging from $1.60 to $1.70. Zacks’ earnings per share averages are an average based on a survey of sell-side research firms that cover ProAssurance.

ProAssurance (NYSE:PRA) last released its quarterly earnings data on Tuesday, August 7th. The insurance provider reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.09. ProAssurance had a net margin of 9.67% and a return on equity of 6.14%. The company had revenue of $248.02 million during the quarter, compared to the consensus estimate of $219.98 million. During the same quarter in the prior year, the firm posted $0.40 earnings per share.

Several equities research analysts have recently weighed in on the stock. JMP Securities increased their target price on shares of ProAssurance from $50.00 to $52.00 and gave the stock a “market outperform” rating in a research note on Friday, September 21st. Zacks Investment Research upgraded shares of ProAssurance from a “hold” rating to a “buy” rating and set a $54.00 target price for the company in a research note on Tuesday, September 11th. ValuEngine upgraded shares of ProAssurance from a “sell” rating to a “hold” rating in a research note on Wednesday, August 15th. Sandler O’Neill reiterated a “hold” rating and set a $44.00 target price on shares of ProAssurance in a research note on Thursday, August 9th. Finally, Boenning Scattergood reiterated a “hold” rating on shares of ProAssurance in a research note on Wednesday, August 8th. Seven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. ProAssurance presently has a consensus rating of “Hold” and a consensus price target of $50.50.

Shares of PRA traded down $0.35 during mid-day trading on Friday, hitting $43.36. 207,447 shares of the company’s stock were exchanged, compared to its average volume of 329,206. ProAssurance has a fifty-two week low of $34.95 and a fifty-two week high of $63.45. The company has a market capitalization of $2.52 billion, a price-to-earnings ratio of 21.47 and a beta of 0.63. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.35 and a current ratio of 0.35.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 10th. Stockholders of record on Friday, September 28th were paid a dividend of $0.31 per share. The ex-dividend date of this dividend was Thursday, September 27th. This represents a $1.24 annualized dividend and a dividend yield of 2.86%. ProAssurance’s dividend payout ratio (DPR) is 61.39%.

Several institutional investors and hedge funds have recently made changes to their positions in PRA. Dimensional Fund Advisors LP raised its holdings in ProAssurance by 11.5% during the second quarter. Dimensional Fund Advisors LP now owns 2,029,596 shares of the insurance provider’s stock worth $71,950,000 after purchasing an additional 209,147 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in ProAssurance by 7.5% during the second quarter. Bank of New York Mellon Corp now owns 669,796 shares of the insurance provider’s stock worth $23,744,000 after purchasing an additional 46,762 shares in the last quarter. Millennium Management LLC raised its holdings in ProAssurance by 41.1% during the first quarter. Millennium Management LLC now owns 29,364 shares of the insurance provider’s stock worth $1,426,000 after purchasing an additional 8,558 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in ProAssurance by 92.1% during the second quarter. Tower Research Capital LLC TRC now owns 8,131 shares of the insurance provider’s stock worth $288,000 after purchasing an additional 3,898 shares in the last quarter. Finally, Unigestion Holding SA purchased a new position in ProAssurance during the second quarter worth about $1,067,000. Institutional investors and hedge funds own 85.77% of the company’s stock.

About ProAssurance

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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Earnings History and Estimates for ProAssurance (NYSE:PRA)

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