ProAssurance (NYSE:PRA - Get Free Report) was upgraded by stock analysts at StockNews.com from a "hold" rating to a "buy" rating in a research note issued on Thursday.
A number of other brokerages have also recently issued reports on PRA. Piper Sandler cut ProAssurance from an "overweight" rating to a "neutral" rating and set a $18.00 target price on the stock. in a report on Monday, November 11th. 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.
Get Our Latest Stock Analysis on ProAssurance
ProAssurance Trading Down 0.7 %
PRA traded down $0.11 during trading on Thursday, hitting $15.96. The company's stock had a trading volume of 119,167 shares, compared to its average volume of 279,322. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.35. ProAssurance has a twelve month low of $10.76 and a twelve month high of $17.79. The stock's fifty day moving average price is $16.20 and its 200-day moving average price is $14.12. The firm has a market capitalization of $816.45 million, a P/E ratio of 19.23 and a beta of 0.28.
Institutional Inflows and Outflows
Large investors have recently added to or reduced their stakes in the stock. Zacks Investment Management bought a new position in shares of ProAssurance in the 3rd quarter worth $5,140,000. Assenagon Asset Management S.A. raised its stake 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 valued at $7,302,000 after acquiring an additional 231,852 shares during the last quarter. Cubist Systematic Strategies LLC lifted its holdings in ProAssurance by 567.5% in 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 period. Dana Investment Advisors Inc. boosted its holdings in ProAssurance by 33.6% in the second quarter. Dana Investment Advisors Inc. now owns 434,850 shares of the insurance provider's stock valued at $5,314,000 after acquiring an additional 109,253 shares in the last quarter. Finally, Wellington Management Group LLP boosted its stake in shares of ProAssurance by 3.0% during the 3rd quarter. Wellington Management Group LLP now owns 3,164,085 shares of the insurance provider's stock valued at $47,588,000 after purchasing an additional 91,987 shares in the last quarter. Institutional investors own 85.58% of the company's stock.
ProAssurance Company Profile
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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.
Further Reading
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