ProAssurance (NYSE:PRA) Raised to “Buy” at StockNews.com

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

Several other analysts also recently commented on the stock. Piper Sandler downgraded shares of ProAssurance from an “overweight” rating to a “neutral” rating and set a $18.00 price objective on the stock. in a research report on Monday, November 11th. Truist Financial upped their price objective on ProAssurance from $14.00 to $18.00 and gave the stock a “hold” rating in a research note on Tuesday, November 12th.

ProAssurance Stock Down 1.9 %

PRA stock opened at $15.66 on Thursday. The business’s 50-day moving average price is $16.19 and its 200-day moving average price is $14.15. The stock has a market cap of $801.10 million, a P/E ratio of 18.87 and a beta of 0.28. ProAssurance has a twelve month low of $10.76 and a twelve month high of $17.79. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.35.

Hedge Funds Weigh In On ProAssurance

Several institutional investors have recently added to or reduced their stakes in PRA. Commonwealth Equity Services LLC boosted its position in shares of ProAssurance by 2.5% during the 2nd quarter. Commonwealth Equity Services LLC now owns 32,346 shares of the insurance provider’s stock valued at $395,000 after acquiring an additional 800 shares during the last quarter. Arizona State Retirement System lifted its stake in shares of ProAssurance by 8.1% in the 2nd quarter. Arizona State Retirement System now owns 15,136 shares of the insurance provider’s stock valued at $185,000 after purchasing an additional 1,128 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of ProAssurance by 7.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,106 shares of the insurance provider’s stock worth $258,000 after purchasing an additional 1,521 shares during the period. Jacobs Levy Equity Management Inc. increased its position in shares of ProAssurance by 0.3% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 587,901 shares of the insurance provider’s stock valued at $8,842,000 after purchasing an additional 1,738 shares during the last quarter. Finally, Private Advisor Group LLC raised its stake in shares of ProAssurance by 12.8% in the third quarter. Private Advisor Group LLC now owns 16,806 shares of the insurance provider’s stock valued at $253,000 after acquiring an additional 1,905 shares during the period. 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.