ProAssurance (NYSE:PRA) Cut to “Hold” at StockNews.com

StockNews.com cut shares of ProAssurance (NYSE:PRA) from a buy rating to a hold rating in a research report sent to investors on Tuesday morning.

Several other research firms have also commented on PRA. Truist Financial increased their target price on ProAssurance from $14.00 to $18.00 and gave the company a “hold” rating in a report on Tuesday, November 12th. Piper Sandler downgraded ProAssurance from an “overweight” rating to a “neutral” rating and set a $18.00 price objective on the stock. in a report on Monday, November 11th. Three analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $18.67.

ProAssurance Trading Up 2.6 %

Shares of NYSE:PRA opened at $16.67 on Tuesday. ProAssurance has a 52 week low of $10.76 and a 52 week high of $17.79. The company’s 50 day moving average is $15.10 and its two-hundred day moving average is $13.76. The company has a market cap of $852.84 million, a PE ratio of 20.08 and a beta of 0.24. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.35.

Hedge Funds Weigh In On ProAssurance

Several large investors have recently bought and sold shares of the stock. Point72 Hong Kong Ltd purchased a new stake in shares of ProAssurance in the 2nd quarter valued at about $28,000. nVerses Capital LLC acquired a new stake in shares of ProAssurance in the third quarter valued at approximately $44,000. Innealta Capital LLC purchased a new stake in ProAssurance in the 2nd quarter valued at $69,000. Point72 Asia Singapore Pte. Ltd. boosted 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 purchasing an additional 4,052 shares during the period. Finally, ProShare Advisors LLC acquired a new stake in ProAssurance during the 1st quarter worth $132,000. Institutional investors and hedge funds own 85.58% of the company’s stock.

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.