ProAssurance Co. (NYSE:PRA) Short Interest Down 15.7% in December

ProAssurance Co. (NYSE:PRA) saw a significant decrease in short interest in the month of December. As of December 15th, there was short interest totalling 481,100 shares, a decrease of 15.7% from the November 30th total of 571,000 shares. Based on an average daily volume of 257,700 shares, the short-interest ratio is currently 1.9 days. Approximately 1.0% of the company’s shares are short sold.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in PRA. Point72 Hong Kong Ltd purchased a new position in shares of ProAssurance during the 2nd quarter valued at $28,000. nVerses Capital LLC purchased a new stake in shares of ProAssurance during the 3rd quarter worth approximately $44,000. Point72 Asia Singapore Pte. Ltd. raised its holdings in shares of 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 acquiring an additional 4,052 shares in the last quarter. FMR LLC boosted its position in shares of ProAssurance by 197.8% during the 3rd quarter. FMR LLC now owns 12,063 shares of the insurance provider’s stock valued at $181,000 after acquiring an additional 8,012 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC purchased a new position in shares of ProAssurance in the second quarter valued at $166,000. Institutional investors own 85.58% of the company’s stock.

ProAssurance Stock Performance

Shares of NYSE:PRA traded down $0.30 during midday trading on Friday, reaching $15.66. 201,925 shares of the company’s stock traded hands, compared to its average volume of 279,012. ProAssurance has a one year low of $10.76 and a one year high of $17.79. The stock has a 50 day moving average of $16.19 and a 200 day moving average of $14.16. The company has a market cap of $801.10 million, a price-to-earnings ratio of 18.87 and a beta of 0.28. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.28 and a current ratio of 0.28.

Wall Street Analyst Weigh In

Several research firms recently weighed in on PRA. Piper Sandler cut shares of ProAssurance from an “overweight” rating to a “neutral” rating and set a $18.00 price target on the stock. in a report on Monday, November 11th. StockNews.com raised ProAssurance from a “hold” rating to a “buy” rating in a research report on Thursday. Finally, Truist Financial increased 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.

About ProAssurance

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.