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 research report sent to investors on Thursday.

A number of other equities research analysts have also commented on PRA. Piper Sandler lowered ProAssurance from an “overweight” rating to a “neutral” rating and set a $18.00 target price on the stock. in a research report on Monday, November 11th. Truist Financial boosted their target price 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.

ProAssurance Stock Performance

Shares of PRA stock opened at $15.66 on Thursday. 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 business has a fifty day moving average of $16.19 and a 200 day moving average of $14.16. The firm has a market capitalization of $801.10 million, a price-to-earnings ratio of 18.87 and a beta of 0.28. ProAssurance has a 1 year low of $10.76 and a 1 year high of $17.79.

Institutional Investors Weigh In On ProAssurance

Institutional investors have recently bought and sold shares of the company. Point72 Hong Kong Ltd purchased a new position in shares of ProAssurance in the second quarter valued at approximately $28,000. nVerses Capital LLC purchased a new stake in ProAssurance in the third quarter valued at $44,000. Innealta Capital LLC purchased a new position in shares of ProAssurance during the 2nd quarter worth $69,000. Point72 Asia Singapore Pte. Ltd. raised its holdings in ProAssurance by 94.3% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 8,347 shares of the insurance provider’s stock valued at $126,000 after buying an additional 4,052 shares during the period. Finally, Susquehanna Fundamental Investments LLC acquired a new position in ProAssurance in the second 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.