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

StockNews.com upgraded shares of ProAssurance (NYSE:PRA - Free Report) from a hold rating to a buy rating in a report released on Thursday morning.

Other equities research analysts also recently issued reports about the stock. Truist Financial increased 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. Piper Sandler downgraded shares of ProAssurance from an "overweight" rating to a "neutral" rating and set a $18.00 price objective for the company. in a research report on Monday, November 11th.

ProAssurance Stock Performance

Shares of PRA traded down $0.13 during mid-day trading on Thursday, hitting $15.25. 312,762 shares of the company's stock were exchanged, compared to its average volume of 251,482. 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 52 week low of $10.76 and a 52 week high of $17.79. The stock's 50-day simple moving average is $15.09 and its 200-day simple moving average is $15.17. The firm has a market cap of $779.99 million, a price-to-earnings ratio of 18.37 and a beta of 0.21.

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ProAssurance (NYSE:PRA - Get Free Report) last posted its quarterly earnings data on Monday, February 24th. The insurance provider reported $0.36 EPS for the quarter, topping analysts' consensus estimates of $0.17 by $0.19. The firm had revenue of $287.52 million for the quarter, compared to analyst estimates of $274.56 million. ProAssurance had a return on equity of 2.65% and a net margin of 3.71%. On average, equities research analysts expect that ProAssurance will post 0.8 EPS for the current year.

Institutional Investors Weigh In On ProAssurance

Several hedge funds and other institutional investors have recently made changes to their positions in PRA. Private Advisor Group LLC raised its stake in shares of ProAssurance by 12.8% during 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 last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of ProAssurance by 402.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 68,435 shares of the insurance provider's stock valued at $1,029,000 after purchasing an additional 54,806 shares during the period. FMR LLC lifted its stake in shares of ProAssurance by 197.8% in the 3rd quarter. FMR LLC now owns 12,063 shares of the insurance provider's stock valued at $181,000 after purchasing an additional 8,012 shares during the period. BNP Paribas Financial Markets boosted its holdings in shares of ProAssurance by 30.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 17,978 shares of the insurance provider's stock worth $270,000 after buying an additional 4,149 shares in the last quarter. Finally, Verition Fund Management LLC boosted its stake in ProAssurance by 164.1% during the third quarter. Verition Fund Management LLC now owns 36,589 shares of the insurance provider's stock worth $550,000 after acquiring an additional 22,737 shares in the last quarter. 85.58% of the stock is owned by institutional investors.

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.