ProAssurance: 1Q Earnings Snapshot

BIRMINGHAM, Ala. (AP) _ ProAssurance Corp. (PRA) on Thursday reported first-quarter earnings of $31.7 million.

On a per-share basis, the Birmingham, Alabama-based company said it had profit of 59 cents. Earnings, adjusted for investment gains, were 8 cents per share.

The results fell short of Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 31 cents per share.

The medical professional liability insurer posted revenue of $268.9 million in the period. Its adjusted revenue was $233.1 million, exceeding Street forecasts. Three analysts surveyed by Zacks expected $228.2 million.

ProAssurance shares have dropped 11 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $36.06, a decline of 25 percent in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PRA at https://www.zacks.com/ap/PRA