ProAssurance Co. (NYSE:PRA) Short Interest Down 15.7% in December

ProAssurance Co. (NYSE:PRA) was the target of a large decrease in short interest in the month of December. As of December 15th, there was short interest totalling 481,100 shares, a decrease of 15.7% from the November 30th total of 571,000 shares. Approximately 1.0% of the shares of the stock are short sold. Based on an average trading volume of 257,700 shares, the short-interest ratio is presently 1.9 days.

Analyst Upgrades and Downgrades

Several research firms have weighed in on PRA. StockNews.com raised ProAssurance from a “hold” rating to a “buy” rating in a report on Thursday. Truist Financial raised their target price on shares of ProAssurance from $14.00 to $18.00 and gave the company a “hold” rating in a report on Tuesday, November 12th. Finally, Piper Sandler downgraded shares of ProAssurance from an “overweight” rating to a “neutral” rating and set a $18.00 price target on the stock. in a report on Monday, November 11th.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in PRA. JPMorgan Chase & Co. grew its holdings in shares of ProAssurance by 34.8% during the third quarter. JPMorgan Chase & Co. now owns 253,175 shares of the insurance provider’s stock worth $3,808,000 after buying an additional 65,325 shares in the last quarter. Barclays PLC boosted its position in ProAssurance by 307.5% during the third quarter. Barclays PLC now owns 85,117 shares of the insurance provider’s stock worth $1,280,000 after acquiring an additional 64,228 shares during the last quarter. XTX Topco Ltd acquired a new stake in ProAssurance during the third quarter worth approximately $403,000. Zacks Investment Management purchased a new stake in ProAssurance in the 3rd quarter worth approximately $5,140,000. Finally, Wellington Management Group LLP raised its holdings 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 during the last quarter. Institutional investors and hedge funds own 85.58% of the company’s stock.

ProAssurance Price Performance

Shares of NYSE PRA traded up $0.02 during trading on Monday, reaching $15.68. The company had a trading volume of 16,991 shares, compared to its average volume of 277,963. 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 twelve month low of $10.76 and a twelve month high of $17.79. The stock has a 50-day moving average price of $16.19 and a two-hundred day moving average price of $14.17. The stock has a market capitalization of $802.13 million, a PE ratio of 18.89 and a beta of 0.28.

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.