ProAssurance (NYSE:PRA) Downgraded to “Hold” Rating by StockNews.com

ProAssurance (NYSE:PRA) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a report released on Wednesday.

Several other equities research analysts also recently commented on PRA. Piper Sandler downgraded 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 target 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.

ProAssurance Stock Performance

Shares of PRA opened at $15.83 on Wednesday. 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 stock has a market cap of $809.80 million, a P/E ratio of 19.07 and a beta of 0.28. The business’s 50 day moving average price is $16.13 and its 200-day moving average price is $14.07. ProAssurance has a 52 week low of $10.76 and a 52 week high of $17.79.

Institutional Trading of ProAssurance

Institutional investors have recently added to or reduced their stakes in the business. Commonwealth Equity Services LLC boosted its position in shares of ProAssurance by 2.5% during the second quarter. Commonwealth Equity Services LLC now owns 32,346 shares of the insurance provider’s stock valued at $395,000 after buying an additional 800 shares during the last quarter. Arizona State Retirement System lifted its stake in ProAssurance by 8.1% during the 2nd quarter. Arizona State Retirement System now owns 15,136 shares of the insurance provider’s stock valued at $185,000 after acquiring an additional 1,128 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in shares of ProAssurance by 7.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,106 shares of the insurance provider’s stock valued at $258,000 after acquiring an additional 1,521 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its stake in shares of ProAssurance by 0.3% in the third quarter. Jacobs Levy Equity Management Inc. now owns 587,901 shares of the insurance provider’s stock worth $8,842,000 after acquiring an additional 1,738 shares during the period. Finally, Private Advisor Group LLC grew its stake in shares of ProAssurance by 12.8% in the third quarter. Private Advisor Group LLC now owns 16,806 shares of the insurance provider’s stock worth $253,000 after acquiring an additional 1,905 shares during the period. 85.58% of the stock is currently 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.