ProAssurance Co. (NYSE:PRA) Short Interest Down 16.1% in November

ProAssurance Co. (NYSE:PRA - Get Free Report) was the recipient of a large decline in short interest during the month of November. As of November 30th, there was short interest totalling 571,000 shares, a decline of 16.1% from the November 15th total of 680,600 shares. Based on an average daily volume of 265,900 shares, the days-to-cover ratio is presently 2.1 days. Currently, 1.1% of the company's shares are sold short.

ProAssurance Trading Down 0.5 %

Shares of PRA traded down $0.09 during trading hours on Friday, reaching $16.65. 239,996 shares of the company traded hands, compared to its average volume of 279,656. The firm has a market cap of $851.81 million, a price-to-earnings ratio of 20.06 and a beta of 0.28. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.35. ProAssurance has a 12-month low of $10.76 and a 12-month high of $17.79. The stock's fifty day moving average price is $15.96 and its 200 day moving average price is $14.00.

Institutional Trading of ProAssurance

Several institutional investors and hedge funds have recently modified their holdings of PRA. Point72 Hong Kong Ltd bought a new position in ProAssurance during the 2nd quarter worth about $28,000. nVerses Capital LLC bought a new position in shares of ProAssurance during the third quarter valued at approximately $44,000. Innealta Capital LLC purchased a new position in ProAssurance during the second quarter valued at approximately $69,000. Point72 Asia Singapore Pte. Ltd. raised its stake in ProAssurance by 94.3% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 8,347 shares of the insurance provider's stock worth $126,000 after buying an additional 4,052 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in ProAssurance during the second quarter worth $166,000. Institutional investors own 85.58% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on PRA shares. Piper Sandler downgraded ProAssurance from an "overweight" rating to a "neutral" rating and set a $18.00 price target for the company. in a research report on Monday, November 11th. Truist Financial raised their price objective on shares of ProAssurance from $14.00 to $18.00 and gave the stock a "hold" rating in a research note on Tuesday, November 12th. Finally, StockNews.com raised ProAssurance from a "hold" rating to a "buy" rating in a research note on Tuesday.

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.