News headlines about ProAssurance (NYSE:PRA) have trended somewhat positive on Monday, according to Accern. Accern scores the sentiment of press coverage by analyzing more than 20 million blog and news sources. Accern ranks coverage of companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. ProAssurance earned a coverage optimism score of 0.10 on Accern’s scale. Accern also assigned media coverage about the insurance provider an impact score of 47.3509746662957 out of 100, meaning that recent press coverage is somewhat unlikely to have an impact on the stock’s share price in the near term.
These are some of the news headlines that may have impacted Accern’s scoring:
- ProAssurance Corporation (PRA) CEO Sells $1,424,538.96 in Stock (americanbankingnews.com)
- Insider Selling: ProAssurance Corporation (PRA) Chairman Sells 2,442 Shares of Stock (americanbankingnews.com)
- United Fire Group (UFCS) & ProAssurance (PRA) Critical Review (americanbankingnews.com)
- ProAssurance Corporation (PRA) Receives Average Recommendation of “Hold” from Brokerages (americanbankingnews.com)
Several research firms have recently issued reports on PRA. Zacks Investment Research raised ProAssurance from a “hold” rating to a “buy” rating and set a $63.00 target price on the stock in a research note on Friday, January 5th. Keefe, Bruyette & Woods restated a “hold” rating and set a $60.00 price target on shares of ProAssurance in a research report on Monday, October 16th. Finally, Boenning Scattergood restated a “hold” rating on shares of ProAssurance in a research report on Tuesday, November 7th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $59.50.
ProAssurance (NYSE:PRA) last released its quarterly earnings results on Monday, November 6th. The insurance provider reported $0.45 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.09. ProAssurance had a return on equity of 6.75% and a net margin of 16.18%. The company had revenue of $228.50 million for the quarter, compared to analyst estimates of $215.12 million. During the same period in the previous year, the company posted $0.46 earnings per share. The firm’s revenue was up 1.9% on a year-over-year basis. research analysts predict that ProAssurance will post 2.09 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, January 10th. Investors of record on Thursday, December 21st were given a dividend of $0.31 per share. The ex-dividend date of this dividend was Wednesday, December 20th. This represents a $1.24 annualized dividend and a dividend yield of 2.26%. ProAssurance’s dividend payout ratio is presently 45.93%.
In related news, CEO William Stancil Starnes sold 25,896 shares of ProAssurance stock in a transaction that occurred on Friday, January 12th. The stock was sold at an average price of $55.01, for a total transaction of $1,424,538.96. Following the sale, the chief executive officer now directly owns 277,772 shares in the company, valued at $15,280,237.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.80% of the company’s stock.
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ProAssurance Corporation (ProAssurance) is a holding company for property and casualty insurance companies. The Company 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.
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