ProAssurance (NYSE:PRA) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of ProAssurance (NYSE:PRA) from a hold rating to a buy rating in a report released on Thursday.

Several other brokerages also recently weighed in on PRA. Piper Sandler downgraded ProAssurance from an “overweight” rating to a “neutral” rating and set a $18.00 price objective for the company. in a research report on Monday, November 11th. Truist Financial increased their target price on shares of ProAssurance from $14.00 to $18.00 and gave the stock a “hold” rating in a report on Tuesday, November 12th.

ProAssurance Stock Performance

Shares of NYSE:PRA opened at $15.96 on Thursday. ProAssurance has a 1 year low of $10.76 and a 1 year high of $17.79. The stock has a market capitalization of $816.45 million, a price-to-earnings ratio of 19.23 and a beta of 0.28. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.28 and a quick ratio of 0.28. The company’s 50 day simple moving average is $16.20 and its 200 day simple moving average is $14.12.

Institutional Trading of ProAssurance

Large investors have recently made changes to their positions in the company. Wellington Management Group LLP lifted its position in ProAssurance by 3.0% in the 3rd quarter. Wellington Management Group LLP now owns 3,164,085 shares of the insurance provider’s stock valued at $47,588,000 after acquiring an additional 91,987 shares in the last quarter. State Street Corp raised its stake in shares of ProAssurance by 1.8% in the third quarter. State Street Corp now owns 1,968,754 shares of the insurance provider’s stock worth $29,610,000 after purchasing an additional 34,247 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of ProAssurance by 1.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,311,435 shares of the insurance provider’s stock valued at $19,724,000 after purchasing an additional 18,718 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its position in shares of ProAssurance by 0.3% during the third quarter. Jacobs Levy Equity Management Inc. now owns 587,901 shares of the insurance provider’s stock valued at $8,842,000 after buying an additional 1,738 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in ProAssurance by 91.4% during the third quarter. Assenagon Asset Management S.A. now owns 485,501 shares of the insurance provider’s stock worth $7,302,000 after buying an additional 231,852 shares in the last quarter. 85.58% of the stock is currently owned by institutional investors and hedge funds.

About ProAssurance

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.