The stock of ProAssurance Corporation (NYSE:PRA) hit a new 52-week high and has $59.94 target or 8.00% above today’s $55.50 share price. The 5 months bullish chart indicates low risk for the $2.99 billion company. The 1-year high was reported on Nov, 23 by Barchart.com. If the $59.94 price target is reached, the company will be worth $239.20 million 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. About 29,814 shares traded hands. ProAssurance Corporation (NYSE:PRA) has risen 14.90% since April 21, 2016 and is uptrending. It has outperformed by 9.57% 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 $36.10 million for 20.71 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. The rating was upgraded by SunTrust to “Buy” on Thursday, January 21. As per Thursday, January 21, the company rating was upgraded by Suntrust Robinson.
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.
Fincl Bank Of Mellon Corporation has 0.01% invested in the company for 571,152 shares. Dean Cap has 19,943 shares for 1.47% of their US portfolio. Thomson Horstmann & Bryant has 0.07% invested in the company for 10,135 shares. Us Retail Bank De accumulated 16,764 shares or 0% of the stock. Deere And has 9,047 shares for 0.03% of their US portfolio. Kinsight Lc has invested 0.31% of its portfolio in ProAssurance Corporation (NYSE:PRA). Ls Invest Ltd Co holds 1,882 shares or 0.01% of its portfolio. Quadrant Mgmt Limited Liability Company holds 3,780 shares or 0.17% of its portfolio. Aull & Monroe Inv Management has invested 0.62% of its portfolio in ProAssurance Corporation (NYSE:PRA). Moreover, Deutsche Bancorporation Ag has 0.01% invested in ProAssurance Corporation (NYSE:PRA) for 224,735 shares. Sg Americas Securities Ltd Llc holds 0.01% of its portfolio in ProAssurance Corporation (NYSE:PRA) for 21,952 shares. Moreover, Eulav Asset Management has 0.16% invested in ProAssurance Corporation (NYSE:PRA) for 53,900 shares. Moreover, Public Sector Pension Invest Board has 0.02% invested in ProAssurance Corporation (NYSE:PRA) for 37,591 shares. Vanguard Gp Incorporated has 4.42 million shares for 0.01% of their US portfolio. Principal Fincl has 0.03% invested in the company for 381,651 shares.
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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