XTX Topco Ltd Buys New Position in ProAssurance Co. (NYSE:PRA)

XTX Topco Ltd bought a new stake in ProAssurance Co. (NYSE:PRA) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 26,769 shares of the insurance provider’s stock, valued at approximately $403,000. XTX Topco Ltd owned 0.05% of ProAssurance at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Wellington Management Group LLP boosted its position in ProAssurance by 3.0% in the 3rd quarter. Wellington Management Group LLP now owns 3,164,085 shares of the insurance provider’s stock valued at $47,588,000 after buying an additional 91,987 shares during the last quarter. State Street Corp grew its stake in ProAssurance by 1.8% during the 3rd quarter. State Street Corp now owns 1,968,754 shares of the insurance provider’s stock valued at $29,610,000 after purchasing an additional 34,247 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in ProAssurance by 1.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,311,435 shares of the insurance provider’s stock worth $19,724,000 after purchasing an additional 18,718 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its position in shares of ProAssurance by 0.3% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 587,901 shares of the insurance provider’s stock valued at $8,842,000 after purchasing an additional 1,738 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in shares of ProAssurance by 91.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 485,501 shares of the insurance provider’s stock valued at $7,302,000 after buying an additional 231,852 shares during the last quarter. 85.58% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Piper Sandler downgraded shares of ProAssurance from an “overweight” rating to a “neutral” rating and set a $18.00 price objective on the stock. in a research note on Monday, November 11th. StockNews.com raised ProAssurance from a “hold” rating to a “buy” rating in a report on Tuesday, December 10th. Finally, Truist Financial increased their target price on ProAssurance from $14.00 to $18.00 and gave the stock a “hold” rating in a report on Tuesday, November 12th.

ProAssurance Price Performance

Shares of NYSE:PRA opened at $16.65 on Monday. 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 firm has a 50-day simple moving average of $15.99 and a 200 day simple moving average of $14.01. ProAssurance Co. has a fifty-two week low of $10.76 and a fifty-two week high of $17.79. The company has a market cap of $851.75 million, a PE ratio of 20.06 and a beta of 0.28.

ProAssurance 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.