ProAssurance (NYSE:PRA) Upgraded by StockNews.com to Buy Rating

ProAssurance (NYSE:PRA) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Tuesday.

PRA has been the subject of a number of other research reports. Truist Financial upped their price objective on shares of ProAssurance from $14.00 to $18.00 and gave the company a “hold” rating in a research report on Tuesday, November 12th. Piper Sandler cut ProAssurance from an “overweight” rating to a “neutral” rating and set a $18.00 price target for the company. in a report on Monday, November 11th.

ProAssurance Stock Performance

PRA stock traded down $0.19 on Tuesday, reaching $16.65. 243,548 shares of the company were exchanged, compared to its average volume of 281,133. The firm has a market capitalization of $851.75 million, a PE ratio of 20.06 and a beta of 0.27. ProAssurance has a 12 month low of $10.76 and a 12 month high of $17.79. The stock’s fifty day moving average price is $15.88 and its 200 day moving average price is $13.97. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.28 and a quick ratio of 0.28.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Zacks Investment Management bought a new stake in shares of ProAssurance in the 3rd quarter valued at approximately $5,140,000. Assenagon Asset Management S.A. boosted its stake in ProAssurance by 91.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 485,501 shares of the insurance provider’s stock valued at $7,302,000 after buying an additional 231,852 shares in the last quarter. Cubist Systematic Strategies LLC grew its position in ProAssurance by 567.5% in the second quarter. Cubist Systematic Strategies LLC now owns 151,434 shares of the insurance provider’s stock valued at $1,851,000 after acquiring an additional 128,747 shares during the period. Dana Investment Advisors Inc. raised its stake in ProAssurance by 33.6% during the second quarter. Dana Investment Advisors Inc. now owns 434,850 shares of the insurance provider’s stock worth $5,314,000 after acquiring an additional 109,253 shares in the last quarter. Finally, Wellington Management Group LLP lifted its holdings in shares of ProAssurance by 3.0% during the third 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 period. Institutional investors and hedge funds own 85.58% of the company’s stock.

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.