ProAssurance Corp (PRA) released its first quarter results on Monday, May 10, 2021. The company reported net earnings of $0.14 per share for the first quarter ending March 31, 2021. Earnings for this past quarter were up 135 percent compared to the same period a year ago.
The company was founded in 1976 and is headquartered in Birmingham, Alabama. ProAssurance Corporation, through its subsidiaries, provides property and casualty insurance, and reinsurance products in the United States. The company operates through Specialty Property and Casualty, Workers' Compensation Insurance, Segregated Portfolio Cell Reinsurance, and Lloyd's Syndicate segments.
ProAssurance's revenue decreased 4 percent over the past trailing twelve-month period versus the previous twelve-month period. Operating margins increased to 3.11% over the same period. Net earnings for past trailing twelve months were $-146.04 million, down 178% from the prior year.
Moving on to the balance sheet, ProAssurance's cash levels jumped 23% for the first quarter over the same period last year. Overall liquidity of the balance sheet, as measured by the current ratio, decreased 2.79% this past year. The current ratio for ProAssurance now stands at 0.36. The company increased shares outstanding by 0.19%.
Shares of PRA are currently trading around $25.06. In terms of valuation, the stock is trading at a price to book ratio of 1.52.
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This article was written by Value Investing News (https://www.valueinvestingnews.com) on Tuesday, May 11, 2021.