In a report released today, Robert Farnam from Boenning & Scattergood maintained a Hold rating on Pro-Assurance Corp (PRA). The company’s shares closed yesterday at $44.56.
Farnam observed:
“We view ProAssurance as one of the most conservative insurers in the sector. The company has a long track record of building shareholder value (book value plus cumulative dividends), averaging 13% growth per year for the last 25 years. Much of the strong performance is related to significant favorable prior-year loss reserve development. PRA also continues to operate with very low leverage, and the board has declared special dividends in each of the last four years (and five of the last six). Given the excess capital, we would not be surprised to see additional special dividends in the future.”
According to TipRanks.com, Farnam is a 1-star analyst with an average return of -1.9% and a 44.1% success rate. Farnam covers the Financial sector, focusing on stocks such as Argo Group International Holdings Ltd, 1347 Property Insurance Holdings Inc, and Hallmark Financial Services.
The word on The Street in general, suggests a Hold analyst consensus rating for Pro-Assurance Corp with a $47 average price target.
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The company has a one-year high of $58.65 and a one-year low of $34.95. Currently, Pro-Assurance Corp has an average volume of 258.7K.
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ProAssurance Corp. is a holding company for property and casualty insurance companies. It operates through the following business segments: Specialty Property and Casualty, Workers’ Compensation, Lloyd’s Syndicate, and Corporate.
