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JMP Securities Sticks to Its Buy Rating for ProAssurance (PRA)

In a report released yesterday, Matthew Carletti from JMP Securities reiterated a Buy rating on ProAssurance (PRAResearch Report), with a price target of $30.00. The company’s shares closed yesterday at $21.96.

According to TipRanks, Carletti is a 2-star analyst with an average return of 0.3% and a 54.15% success rate. Carletti covers the Financial sector, focusing on stocks such as Allstate, Heritage Insurance Holdings, and Chubb.

Currently, the analyst consensus on ProAssurance is a Moderate Buy with an average price target of $30.00.

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The company has a one-year high of $27.55 and a one-year low of $20.37. Currently, ProAssurance has an average volume of 226.6K.

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ProAssurance Corp. is a holding company. It operates through the following segments: Specialty Property and Casualty, Workers’ Compensation Insurance, Lloyd’s Syndicate, Segregated Portfolio Cell Reinsurance and Corporate. The Specialty Property and Casualty segment includes professional liability business and medical technology and life sciences business. The Workers’ Compensation Insurance segment includes the workers’ compensation business which the company provides for employers, groups and associations. The Lloyd’s Syndicate segment includes operating results from participation in Lloyd’s Syndicate 1729. The Segregated Portfolio Cell Reinsurance segment assumes workers’ compensation insurance, healthcare professional liability insurance or a combination of the two from Workers’ Compensation Insurance and Specialty Property & Casualty segments. The Corporate segment includes investing operations managed at the corporate level, non-premium revenues generated outside of insurance entities, and corporate expenses, including interest and U.S. income taxes. The company was founded in 1976 and is headquartered in Birmingham, AL.

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