The stock of ProAssurance Corporation (NYSE:PRA) hit a new 52-week high and has $61.80 target or 9.00% above today’s $56.70 share price. The 5 months bullish chart indicates low risk for the $3.03B company. The 1-year high was reported on Nov, 28 by Barchart.com. If the $61.80 price target is reached, the company will be worth $272.70M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. The stock increased 0.89% or $0.5 on November 28, hitting $56.7. About 102,762 shares traded hands. ProAssurance Corporation (NYSE:PRA) has risen 16.12% since April 25, 2016 and is uptrending. It has outperformed by 10.10% the S&P500.
Analysts await ProAssurance Corporation (NYSE:PRA) to report earnings on February, 28. They expect $0.67 earnings per share, down 8.22% or $0.06 from last year’s $0.73 per share. PRA’s profit will be $35.80M for 21.16 P/E if the $0.67 EPS becomes a reality. After $0.46 actual earnings per share reported by ProAssurance Corporation for the previous quarter, Wall Street now forecasts 45.65% EPS growth.
ProAssurance Corporation (NYSE:PRA) Ratings Coverage
Out of 2 analysts covering ProAssurance (NYSE:PRA), 2 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. ProAssurance has been the topic of 2 analyst reports since January 21, 2016 according to StockzIntelligence Inc. Suntrust Robinson upgraded the stock to “Buy” rating in Thursday, January 21 report. The rating was upgraded by SunTrust to “Buy” on Thursday, January 21.
According to Zacks Investment Research, “Pro Assurance is a leader in developing solutions which serve the liability needs of the evolving needs of the health care industry. ProAssurance is the nation’s fourth largest writer of medical professional liability insurance and one of the 100 largest writers of personal auto coverage.”
Insitutional Activity: The institutional sentiment decreased to 0.96 in Q2 2016. Its down 0.07, from 1.03 in 2016Q1. The ratio dived, as 17 funds sold all ProAssurance Corporation shares owned while 73 reduced positions. 20 funds bought stakes while 73 increased positions. They now own 42.59 million shares or 1.27% more from 42.05 million shares in 2016Q1.
Lpl Financial Lc last reported 16,302 shares in the company. Schroder Investment Mngmt Grp holds 0.08% of its portfolio in ProAssurance Corporation (NYSE:PRA) for 743,072 shares. Goldman Sachs Group Incorporated holds 0.02% of its portfolio in ProAssurance Corporation (NYSE:PRA) for 950,748 shares. State Of Wisconsin Invest Board reported 77,825 shares or 0.02% of all its holdings. Reilly Fincl Advisors Ltd Limited Liability Company has invested 0% of its portfolio in ProAssurance Corporation (NYSE:PRA). Neuberger Berman Gru Lc reported 4,902 shares or 0% of all its holdings. Nationwide Fund Advsr holds 0.01% or 36,009 shares in its portfolio. Jupiter Asset Mgmt Limited holds 73,389 shares or 0.15% of its portfolio. Rafferty Asset Mgmt Llc has 5,645 shares for 0.02% of their US portfolio. Blackrock Fund Advsrs, a California-based fund reported 2.67 million shares. State Of Tennessee Treasury Department reported 42,911 shares or 0.01% of all its holdings. Cadence Capital Mgmt Ltd Llc holds 0.03% of its portfolio in ProAssurance Corporation (NYSE:PRA) for 7,271 shares. Teachers holds 0.04% or 397,850 shares in its portfolio. The New York-based Qs Ltd Co has invested 0% in ProAssurance Corporation (NYSE:PRA). Advisory Ser Net Ltd Llc last reported 0% of its portfolio in the stock.
More news for ProAssurance Corporation (NYSE:PRA) were recently published by: Marketwatch.com, which released: “Plus the latest data from Realtor.com on 21 home markets across the US” on October 27, 2009. Prnewswire.com‘s article titled: “ProAssurance Announces Life Sciences Leadership Changes” and published on February 11, 2016 is yet another important article.
PRA Company Profile
ProAssurance Corporation (ProAssurance), incorporated on October 20, 2006, is a holding firm for property and casualty insurance companies. The Firm provides 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. The Firm operates in four divisions: Specialty property and casualty, which includes the Company’s professional liability business, and medical technology and life sciences business; Workers’ compensation, which includes its workers’ compensation business, which it provides for employers, groups and associations; Lloyd’s syndicate, which includes operating results from its participation in Lloyd’s Syndicate 1729, and Corporate, includes the Company’s investing activities managed at the corporate level, non-premium revenues generated outside of its insurance entities, and corporate expenses, including interest and the United States income taxes. In addition, the Company is also a well-known provider for Lloyd’s of London Syndicate 1729, which writes a range of property and casualty insurance and reinsurance lines.
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