FY2024 Earnings Forecast for ProAssurance Co. Issued By Zacks Research (NYSE:PRA)

ProAssurance Co. (NYSE:PRA) – Investment analysts at Zacks Research upped their FY2024 earnings per share (EPS) estimates for ProAssurance in a research note issued to investors on Wednesday, August 28th. Zacks Research analyst K. Dey now forecasts that the insurance provider will post earnings per share of $0.55 for the year, up from their prior estimate of $0.36. The consensus estimate for ProAssurance’s current full-year earnings is $0.58 per share. Zacks Research also issued estimates for ProAssurance’s Q1 2026 earnings at $0.16 EPS.

ProAssurance (NYSE:PRA) last released its quarterly earnings results on Thursday, August 8th. The insurance provider reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.15. The firm had revenue of $290.30 million for the quarter, compared to analyst estimates of $235.61 million. ProAssurance had a negative net margin of 2.00% and a positive return on equity of 0.86%. The company’s revenue for the quarter was down .5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.16 earnings per share.

A number of other equities analysts also recently weighed in on PRA. Truist Financial dropped their target price on shares of ProAssurance from $16.00 to $14.00 and set a “hold” rating for the company in a research note on Monday, August 12th. JMP Securities reduced their price objective on shares of ProAssurance from $22.00 to $20.00 and set a “market outperform” rating on the stock in a research note on Wednesday, July 17th. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, ProAssurance has a consensus rating of “Moderate Buy” and an average price target of $16.33.

ProAssurance Stock Down 0.3 %

Shares of PRA opened at $13.40 on Monday. The business’s 50 day simple moving average is $12.37 and its 200-day simple moving average is $12.98. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.26 and a quick ratio of 0.26. The company has a market capitalization of $683.56 million, a P/E ratio of -24.81 and a beta of 0.23. ProAssurance has a one year low of $10.76 and a one year high of $19.25.

Hedge Funds Weigh In On ProAssurance

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Dana Investment Advisors Inc. boosted its position in shares of ProAssurance by 33.6% during the second quarter. Dana Investment Advisors Inc. now owns 434,850 shares of the insurance provider’s stock worth $5,314,000 after purchasing an additional 109,253 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new position in ProAssurance during the second quarter worth about $166,000. Smith Thornton Advisors LLC acquired a new position in ProAssurance in the second quarter valued at about $821,000. The Manufacturers Life Insurance Company increased its holdings in shares of ProAssurance by 7.8% in the second quarter. The Manufacturers Life Insurance Company now owns 21,106 shares of the insurance provider’s stock worth $258,000 after acquiring an additional 1,521 shares in the last quarter. Finally, Deerfield Management Company L.P. Series C raised its position in shares of ProAssurance by 199.4% during the second quarter. Deerfield Management Company L.P. Series C now owns 80,425 shares of the insurance provider’s stock worth $983,000 after purchasing an additional 53,560 shares during the period. Institutional investors own 85.58% of the company’s stock.

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.