State Street Corp Acquires 34,247 Shares of ProAssurance Co. (NYSE:PRA)

State Street Corp boosted its holdings in shares of ProAssurance Co. (NYSE:PRA) by 1.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,968,754 shares of the insurance provider’s stock after buying an additional 34,247 shares during the quarter. State Street Corp’s holdings in ProAssurance were worth $29,610,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in PRA. Point72 Hong Kong Ltd bought a new position in ProAssurance in the 2nd quarter worth $28,000. nVerses Capital LLC bought a new stake in ProAssurance during the 3rd quarter worth approximately $44,000. Innealta Capital LLC bought a new position in shares of ProAssurance in the second quarter worth approximately $69,000. Point72 Asia Singapore Pte. Ltd. increased its stake in shares of 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 boosted its holdings in ProAssurance by 197.8% in 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 period. 85.58% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PRA has been the subject of several research analyst reports. Piper Sandler cut shares of ProAssurance from an “overweight” rating to a “neutral” rating and set a $18.00 target price for the company. in a research note on Monday, November 11th. Truist Financial raised their price objective on ProAssurance from $14.00 to $18.00 and gave the company a “hold” rating in a research note on Tuesday, November 12th. Finally, StockNews.com lowered ProAssurance from a “buy” rating to a “hold” rating in a report on Wednesday.

ProAssurance Stock Down 0.4 %

Shares of ProAssurance stock opened at $15.76 on Friday. ProAssurance Co. has a 1 year low of $10.76 and a 1 year high of $17.79. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.28 and a quick ratio of 0.28. The stock has a market cap of $806.22 million, a price-to-earnings ratio of 18.99 and a beta of 0.28. The firm’s 50-day moving average is $16.15 and its two-hundred day moving average is $14.08.

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.