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

StockNews.com upgraded shares of ProAssurance (NYSE:PRA) from a hold rating to a buy rating in a research note issued to investors on Thursday.

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

ProAssurance Stock Performance

Shares of NYSE PRA opened at $15.96 on Thursday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.28 and a current ratio of 0.28. The stock has a 50 day moving average price of $16.20 and a 200 day moving average price of $14.12. The stock has a market capitalization of $816.45 million, a PE ratio of 19.23 and a beta of 0.28. ProAssurance has a 52 week low of $10.76 and a 52 week high of $17.79.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of PRA. Bank of New York Mellon Corp boosted its holdings in shares of ProAssurance by 2.1% during the second quarter. Bank of New York Mellon Corp now owns 417,150 shares of the insurance provider’s stock worth $5,098,000 after acquiring an additional 8,549 shares during the period. Innealta Capital LLC acquired a new stake in ProAssurance during the 2nd quarter worth approximately $69,000. Commonwealth Equity Services LLC boosted its stake in ProAssurance by 2.5% in the 2nd quarter. Commonwealth Equity Services LLC now owns 32,346 shares of the insurance provider’s stock valued at $395,000 after purchasing an additional 800 shares during the period. Arizona State Retirement System grew its holdings in ProAssurance by 8.1% in the 2nd quarter. Arizona State Retirement System now owns 15,136 shares of the insurance provider’s stock valued at $185,000 after buying an additional 1,128 shares in the last quarter. Finally, Texas Permanent School Fund Corp increased its position in ProAssurance by 52.7% during the 2nd quarter. Texas Permanent School Fund Corp now owns 67,588 shares of the insurance provider’s stock worth $826,000 after buying an additional 23,327 shares during the period. 85.58% of the stock is owned by institutional investors.

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.