ProAssurance (NYSE:PRA) Stock Price Up 3.5% – Should You Buy?

Shares of ProAssurance Co. (NYSE:PRA) rose 3.5% during mid-day trading on Monday . The stock traded as high as $16.29 and last traded at $16.19. Approximately 131,850 shares were traded during trading, a decline of 33% from the average daily volume of 196,510 shares. The stock had previously closed at $15.64.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Piper Sandler lowered ProAssurance from an “overweight” rating to a “neutral” rating and set a $18.00 price target for the company. in a research note on Monday, November 11th. StockNews.com cut ProAssurance from a “buy” rating to a “hold” rating in a research report on Wednesday, February 26th. Finally, Truist Financial increased 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.

ProAssurance Stock Performance

The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.35. The firm has a market cap of $820.97 million, a PE ratio of 19.33 and a beta of 0.27. The firm has a 50-day moving average price of $15.12 and a two-hundred day moving average price of $15.10.

ProAssurance (NYSE:PRA) last announced its quarterly earnings data on Monday, February 24th. The insurance provider reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.19. ProAssurance had a return on equity of 2.65% and a net margin of 3.71%. The company had revenue of $287.52 million for the quarter, compared to analyst estimates of $274.56 million. Research analysts forecast that ProAssurance Co. will post 0.8 EPS for the current fiscal year.

Institutional Trading of ProAssurance

Large investors have recently bought and sold shares of the business. Sterling Capital Management LLC boosted its holdings in shares of ProAssurance by 859.4% during the 4th quarter. Sterling Capital Management LLC now owns 1,631 shares of the insurance provider’s stock worth $26,000 after purchasing an additional 1,461 shares during the last quarter. KBC Group NV lifted its position in ProAssurance by 75.4% during the fourth quarter. KBC Group NV now owns 4,184 shares of the insurance provider’s stock worth $67,000 after buying an additional 1,798 shares in the last quarter. Aquatic Capital Management LLC boosted its stake in ProAssurance by 148.6% during the fourth quarter. Aquatic Capital Management LLC now owns 6,214 shares of the insurance provider’s stock worth $99,000 after buying an additional 3,714 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. grew 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 in the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new stake in ProAssurance in the 4th quarter valued at $150,000. Hedge funds and other institutional investors 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.