ProAssurance (NYSE:PRA - Get Free Report) was downgraded by equities researchers at StockNews.com from a "buy" rating to a "hold" rating in a research note issued on Tuesday.
Several other equities analysts also recently weighed in on the company. Truist Financial lifted their target price on ProAssurance from $14.00 to $18.00 and gave the company a "hold" rating in a research report on Tuesday, November 12th. Piper Sandler downgraded shares of ProAssurance from an "overweight" rating to a "neutral" rating and set a $18.00 target price on the stock. in a research note on Monday, November 11th. Three analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $18.67.
View Our Latest Stock Report on ProAssurance
ProAssurance Price Performance
Shares of NYSE:PRA traded down $0.43 during trading on Tuesday, reaching $16.24. The stock had a trading volume of 135,442 shares, compared to its average volume of 282,084. ProAssurance has a 1-year low of $10.76 and a 1-year high of $17.79. The stock has a market cap of $830.84 million, a PE ratio of 19.71 and a beta of 0.24. The business has a fifty day moving average price of $14.96 and a 200-day moving average price of $13.73. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.28 and a current ratio of 0.28.
Institutional Inflows and Outflows
Several large investors have recently modified their holdings of PRA. Point72 Hong Kong Ltd purchased a new stake in ProAssurance in the second quarter valued at $28,000. nVerses Capital LLC purchased a new stake in shares of ProAssurance in the 3rd quarter valued at about $44,000. Innealta Capital LLC acquired a new stake in shares of ProAssurance in the 2nd quarter valued at about $69,000. Point72 Asia Singapore Pte. Ltd. grew its stake in ProAssurance by 94.3% during the 3rd 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 during the last quarter. Finally, ProShare Advisors LLC acquired a new position in ProAssurance during the first quarter worth approximately $132,000. Institutional investors and hedge funds 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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