Today’s Price Action: What’s ProAssurance Corporation Upside After Making All Time High?

Today's Price Action: What's ProAssurance Corporation Upside After Making All Time High?

The stock of ProAssurance Corporation (NYSE:PRA) reached all time high today, Nov, 29 and still has $58.97 target or 4.00% above today’s $56.70 share price. This indicates more upside for the $3.04B company. This technical setup was reported by Barchart.com. If the $58.97 PT is reached, the company will be worth $121.60M more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 88,867 shares traded hands. ProAssurance Corporation (NYSE:PRA) has risen 16.88% since April 26, 2016 and is uptrending. It has outperformed by 11.62% the S&P500.

Analysts await ProAssurance Corporation (NYSE:PRA) to report earnings on February, 28. They expect $0.67 EPS, down 8.22% or $0.06 from last year’s $0.73 per share. PRA’s profit will be $35.92M for 21.16 P/E if the $0.67 EPS becomes a reality. After $0.46 actual EPS 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. The stock of ProAssurance Corporation (NYSE:PRA) has “Buy” rating given on Thursday, January 21 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 fall, 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.
Quadrant Cap Mngmt Ltd Liability Corp, a New Jersey-based fund reported 3,780 shares. Aqr Cap Management Ltd Liability Corp has invested 0.02% of its portfolio in ProAssurance Corporation (NYSE:PRA). Eulav Asset holds 0.16% or 53,900 shares in its portfolio. Brandywine Investment Mgmt Ltd Liability Company holds 0.06% of its portfolio in ProAssurance Corporation (NYSE:PRA) for 159,184 shares. First Republic Invest Management holds 0.01% or 11,360 shares in its portfolio. Barclays Public owns 784 shares or 0% of their US portfolio. Pinebridge L P has 6,746 shares for 0.02% of their US portfolio. Cibc Ww holds 8,976 shares or 0% of its portfolio. Gemmer Asset Mgmt Limited Liability Corporation holds 200 shares or 0.01% of its portfolio. Kcg has 5,965 shares for 0.01% of their US portfolio. Utd Svcs Automobile Association has 0.04% invested in the company for 203,000 shares. Blackrock Institutional Communication Na accumulated 1.32 million shares or 0.01% of the stock. Dean Inv Assoc Limited holds 0.59% or 56,731 shares in its portfolio. Invesco Ltd has invested 0.01% of its portfolio in ProAssurance Corporation (NYSE:PRA). Timessquare Capital Ltd Liability last reported 0.68% of its portfolio in the stock.

Another recent and important ProAssurance Corporation (NYSE:PRA) news was published by Marketwatch.com which published an article titled: “Plus the latest data from Realtor.com on 21 home markets across the US” on October 27, 2009.

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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