ProAssurance (NYSE:PRA) Stock Price Passes Above 200 Day Moving Average - What's Next?

ProAssurance Co. (NYSE:PRA - Get Free Report) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $14.76 and traded as high as $14.90. ProAssurance shares last traded at $14.80, with a volume of 108,952 shares changing hands.

Wall Street Analyst Weigh In

PRA has been the topic of several analyst reports. Truist Financial upped their price objective on ProAssurance from $14.00 to $18.00 and gave the company a "hold" rating in a research note on Tuesday, November 12th. StockNews.com upgraded ProAssurance from a "hold" rating to a "buy" rating in a research report on Thursday, December 26th. Finally, Piper Sandler cut ProAssurance from an "overweight" rating to a "neutral" rating and set a $18.00 price objective for the company. in a report on Monday, November 11th.

ProAssurance Trading Down 2.6 %

The company has a market cap of $758.70 million, a price-to-earnings ratio of 17.87 and a beta of 0.27. 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 company's fifty day moving average price is $15.64 and its two-hundred day moving average price is $14.79.

ProAssurance (NYSE:PRA - Get Free Report) last issued its quarterly earnings data on Thursday, November 7th. The insurance provider reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.22. The firm had revenue of $285.25 million during the quarter, compared to the consensus estimate of $270.75 million. ProAssurance had a return on equity of 2.65% and a net margin of 3.71%. During the same quarter in the previous year, the company posted ($0.07) EPS. Research analysts expect that ProAssurance Co. will post 0.8 earnings per share for the current year.

Hedge Funds Weigh In On ProAssurance

A number of institutional investors have recently modified their holdings of PRA. Summit X LLC acquired a new stake in shares of ProAssurance in the fourth quarter valued at approximately $382,000. Wealthfront Advisers LLC acquired a new stake in shares of ProAssurance in the 4th quarter valued at $359,000. AlphaQuest LLC bought a new stake in shares of ProAssurance during the fourth quarter worth $420,000. Amundi raised its position in shares of ProAssurance by 182.3% during the fourth quarter. Amundi now owns 25,634 shares of the insurance provider's stock worth $389,000 after acquiring an additional 16,552 shares during the last quarter. Finally, Wakefield Asset Management LLLP acquired a new position in shares of ProAssurance during the fourth quarter valued at $1,036,000. 85.58% of the stock is 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.