Connor Clark & Lunn Investment Management Ltd. Boosts Holdings in ProAssurance Co. (NYSE:PRA)

Connor Clark & Lunn Investment Management Ltd. raised its position in shares of ProAssurance Co. (NYSE:PRA - Free Report) by 402.1% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 68,435 shares of the insurance provider's stock after buying an additional 54,806 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.13% of ProAssurance worth $1,029,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of PRA. Point72 Hong Kong Ltd acquired a new stake in shares of ProAssurance in the 2nd quarter worth $28,000. nVerses Capital LLC acquired a new stake in ProAssurance in the third quarter worth about $44,000. Innealta Capital LLC purchased a new stake in shares of ProAssurance during the second quarter worth about $69,000. Susquehanna Fundamental Investments LLC acquired a new position in shares of ProAssurance during the second quarter valued at about $166,000. Finally, Arizona State Retirement System raised its position 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. 85.58% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PRA has been the topic of several research reports. Piper Sandler downgraded 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. StockNews.com downgraded shares of ProAssurance from a "buy" rating to a "hold" rating in a report on Tuesday, November 19th. Finally, Truist Financial raised their target price on shares of ProAssurance from $14.00 to $18.00 and gave the stock a "hold" rating in a report on Tuesday, November 12th. Three investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat.com, ProAssurance currently has an average rating of "Hold" and a consensus price target of $18.67.

ProAssurance Price Performance

Shares of PRA stock traded up $0.23 on Thursday, reaching $16.73. 200,522 shares of the company were exchanged, compared to its average volume of 281,053. ProAssurance Co. has a 1 year low of $10.76 and a 1 year high of $17.79. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.28 and a current ratio of 0.28. The business has a 50-day moving average price of $15.45 and a 200 day moving average price of $13.83. The company has a market cap of $855.91 million, a price-to-earnings ratio of 20.16 and a beta of 0.24.

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.