ProAssurance (NYSE:PRA) Rating Increased to Buy at StockNews.com

ProAssurance (NYSE:PRA) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday.

Other equities research analysts have also issued research reports about the stock. Piper Sandler lowered shares of ProAssurance from an “overweight” rating to a “neutral” rating and set a $18.00 price objective for the company. in a report on Monday, November 11th. Truist Financial boosted their price target on ProAssurance from $14.00 to $18.00 and gave the company a “hold” rating in a report on Tuesday, November 12th.

ProAssurance Stock Performance

PRA stock opened at $15.66 on Thursday. ProAssurance has a twelve month low of $10.76 and a twelve month high of $17.79. The firm has a market cap of $801.10 million, a price-to-earnings ratio of 18.87 and a beta of 0.28. The business’s fifty day simple moving average is $16.19 and its two-hundred day simple moving average is $14.15. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.35.

Hedge Funds Weigh In On ProAssurance

A number of large investors have recently bought and sold shares of PRA. Point72 Hong Kong Ltd bought a new stake in ProAssurance during the 2nd quarter valued at $28,000. nVerses Capital LLC bought a new stake in ProAssurance during the third quarter valued at about $44,000. Innealta Capital LLC purchased a new position in ProAssurance in the second quarter valued at about $69,000. Point72 Asia Singapore Pte. Ltd. raised its holdings in ProAssurance by 94.3% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 8,347 shares of the insurance provider’s stock worth $126,000 after purchasing an additional 4,052 shares in the last quarter. Finally, FMR LLC lifted its position in shares of ProAssurance by 197.8% during the third quarter. FMR LLC now owns 12,063 shares of the insurance provider’s stock valued at $181,000 after buying an additional 8,012 shares during the last quarter. Institutional investors own 85.58% of the company’s stock.

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.