On May 18, Zacks Investment Research upgraded
) to a Zacks Rank #1 (Strong Buy).
AXIS CAP HLDGS (AXS): Free Stock Analysis
HILLTOP HLDGS (HTH): Free Stock Analysis
MONTPELIER RE (MRH): Free Stock Analysis
PROASSURANCE CP (PRA): Free Stock Analysis
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Why the Upgrade?
ProAssurance has been witnessing rising earnings estimates on the
back of strong first-quarter 2013 results. Moreover, this
property and casualty insurer delivered positive earnings
surprises in the last 4 quarters with an average beat of 17.7%.
The long-term expected earnings growth rate for this stock is
ProAssurance reported first-quarter results on May 6. Non-GAAP
earnings per share came in at 97 cents, striding ahead of the
Zacks Consensus Estimate of 76 cents as well as the year-ago
quarter's earnings of 78 cents per share.
Top-line growth of nearly 8% as well a 10% decline in total
expenses aided the improvement.
Total revenue of ProAssurance increased 8% to $195 million from
$180.6 million in the year-ago quarter. Revenues also surpassed
the Zacks Consensus Estimate of $175 million.
The combined ratio of ProAssurance improved to 70.5% from 76.6%
in the comparable quarter last year,
The Zacks Consensus Estimate for 2013 increased 5% to $3.97 per
share as most of the estimates were revised higher over the last
30 days. For 2014, 2 of 4 estimates were revised higher over the
same time frame, lifting the Zacks Consensus Estimate by 0.6% to
$3.63 per share.
Other Stocks to Consider
Apart from ProAssurance, other property and casualty insurers
AXIS Capital Holdings Limited
Hilltop Holdings Inc
Montpelier Re Holdings Ltd
), among others carry a favorable Zacks Rank # 1 (Strong Buy) and