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 Tuesday.

PRA has been the topic of a number of other reports. Truist Financial upped their target price on ProAssurance from $14.00 to $18.00 and gave the company a “hold” rating in a research report on Tuesday, November 12th. Piper Sandler lowered ProAssurance from an “overweight” rating to a “neutral” rating and set a $18.00 target price on the stock. in a research report on Monday, November 11th.

ProAssurance Stock Performance

Shares of PRA opened at $16.65 on Tuesday. The business’s 50 day moving average is $15.88 and its two-hundred day moving average is $13.97. ProAssurance has a 52-week low of $10.76 and a 52-week high of $17.79. The firm has a market cap of $851.75 million, a price-to-earnings ratio of 20.06 and a beta of 0.27. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.35.

Institutional Investors Weigh In On ProAssurance

Institutional investors and hedge funds have recently made changes to their positions in the company. Point72 Hong Kong Ltd acquired a new stake in shares of ProAssurance during the 2nd quarter valued at approximately $28,000. nVerses Capital LLC bought a new position in ProAssurance during the 3rd quarter worth $44,000. Innealta Capital LLC bought a new position in ProAssurance during the 2nd quarter worth $69,000. Point72 Asia Singapore Pte. Ltd. grew 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 buying an additional 4,052 shares during the last quarter. Finally, FMR LLC grew its stake in ProAssurance by 197.8% during the 3rd quarter. FMR LLC now owns 12,063 shares of the insurance provider’s stock worth $181,000 after buying an additional 8,012 shares during the last quarter. 85.58% of the stock is owned by institutional investors and hedge funds.

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.