ProAssurance (NYSE:PRA) Upgraded by StockNews.com to Buy Rating

StockNews.com upgraded shares of ProAssurance (NYSE:PRA) from a hold rating to a buy rating in a research note issued to investors on Monday.

PRA has been the subject of a number of other research reports. JMP Securities lowered their price target on shares of ProAssurance from $22.00 to $20.00 and set a “market outperform” rating for the company in a report on Wednesday, July 17th. Truist Financial decreased their price objective on shares of ProAssurance from $16.00 to $14.00 and set a “hold” rating for the company in a research report on Monday, August 12th. Finally, Piper Sandler lowered ProAssurance from an “overweight” rating to a “neutral” rating and set a $18.00 target price on the stock. in a report on Monday. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, ProAssurance presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.67.

ProAssurance Price Performance

PRA stock opened at $17.17 on Monday. ProAssurance has a 1 year low of $10.76 and a 1 year high of $17.79. The firm has a market capitalization of $878.42 million, a P/E ratio of 20.69 and a beta of 0.24. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.28 and a quick ratio of 0.28. The business’s 50-day moving average is $14.67 and its two-hundred day moving average is $13.63.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. BNP Paribas Financial Markets lifted its position in ProAssurance by 30.0% in the third quarter. BNP Paribas Financial Markets now owns 17,978 shares of the insurance provider’s stock valued at $270,000 after acquiring an additional 4,149 shares during the last quarter. FMR LLC lifted its holdings 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 last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position 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. Assenagon Asset Management S.A. grew its stake in ProAssurance by 91.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 485,501 shares of the insurance provider’s stock worth $7,302,000 after buying an additional 231,852 shares during the last quarter. Finally, Private Advisor Group LLC increased its position in ProAssurance by 12.8% during the third quarter. Private Advisor Group LLC now owns 16,806 shares of the insurance provider’s stock worth $253,000 after buying an additional 1,905 shares during the period. 85.58% of the stock is owned by hedge funds and other 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.