Short Interest in ProAssurance Co. (NYSE:PRA) Drops By 16.1%

ProAssurance Co. (NYSE:PRA) was the recipient of a large decrease in short interest in the month of November. As of November 30th, there was short interest totalling 571,000 shares, a decrease of 16.1% from the November 15th total of 680,600 shares. Currently, 1.1% of the shares of the company are sold short. Based on an average trading volume of 265,900 shares, the short-interest ratio is currently 2.1 days.

ProAssurance Trading Down 0.5 %

Shares of NYSE:PRA opened at $16.65 on Friday. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.35. ProAssurance has a 12-month low of $10.76 and a 12-month high of $17.79. The business has a 50 day moving average of $15.96 and a two-hundred day moving average of $14.00. The company has a market capitalization of $851.81 million, a PE ratio of 20.06 and a beta of 0.28.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Truist Financial upped their target price on ProAssurance from $14.00 to $18.00 and gave the company a “hold” rating in a research report on Tuesday, November 12th. StockNews.com upgraded shares of ProAssurance from a “hold” rating to a “buy” rating in a research note on Tuesday. Finally, Piper Sandler lowered shares of ProAssurance from an “overweight” rating to a “neutral” rating and set a $18.00 price objective on the stock. in a research note on Monday, November 11th.

Hedge Funds Weigh In On ProAssurance

Large investors have recently made changes to their positions in the company. Point72 Hong Kong Ltd purchased a new stake in ProAssurance in the 2nd quarter worth $28,000. nVerses Capital LLC purchased a new stake in shares of ProAssurance during the third quarter worth about $44,000. Innealta Capital LLC acquired a new position in shares of ProAssurance during the 2nd quarter worth about $69,000. Point72 Asia Singapore Pte. Ltd. raised its position in shares of ProAssurance by 94.3% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 8,347 shares of the insurance provider’s stock worth $126,000 after purchasing an additional 4,052 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC purchased a new position in ProAssurance in the 2nd quarter valued at about $166,000. 85.58% of the stock is currently owned by institutional investors and hedge funds.

ProAssurance Company Profile

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, and Segregated Portfolio Cell Reinsurance segments. It offers professional liability insurance to healthcare providers and institutions, and attorneys and their firms; medical technology liability insurance to medical technology and life sciences companies; and custom alternative risk solutions, including assumed reinsurance, loss portfolio transfers, and captive cell programs for healthcare professional liability insureds.