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

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

PRA has been the topic of several other reports. Piper Sandler cut shares of ProAssurance from an “overweight” rating to a “neutral” rating and set a $18.00 target price on the stock. in a report on Monday. Truist Financial dropped their price objective on shares of ProAssurance from $16.00 to $14.00 and set a “hold” rating on the stock in a research note on Monday, August 12th. Finally, JMP Securities cut their price objective on shares of ProAssurance from $22.00 to $20.00 and set a “market outperform” rating on the stock in a report on Wednesday, July 17th. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, ProAssurance has an average rating of “Moderate Buy” and a consensus target price of $18.67.

ProAssurance Price Performance

Shares of PRA stock opened at $16.81 on Monday. ProAssurance has a twelve month low of $10.76 and a twelve month high of $17.79. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.35. The stock has a fifty day simple moving average of $14.74 and a two-hundred day simple moving average of $13.66. The stock has a market capitalization of $860.00 million, a price-to-earnings ratio of 20.25 and a beta of 0.24.

Institutional Trading of ProAssurance

Institutional investors have recently modified their holdings of the company. Assenagon Asset Management S.A. increased its position in shares of 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 purchasing an additional 231,852 shares in the last quarter. Cubist Systematic Strategies LLC grew its stake in ProAssurance by 567.5% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 151,434 shares of the insurance provider’s stock worth $1,851,000 after buying an additional 128,747 shares during the last quarter. Dana Investment Advisors Inc. grew its stake in shares of 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 during the last quarter. Smith Thornton Advisors LLC purchased a new stake in ProAssurance during the 2nd quarter worth approximately $821,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of ProAssurance by 402.1% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 68,435 shares of the insurance provider’s stock valued at $1,029,000 after buying an additional 54,806 shares during the last quarter. 85.58% of the stock is currently owned by institutional investors.

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.