ProAssurance (NYSE:PRA) Share Price Passes Above 200 Day Moving Average – Here’s Why

ProAssurance Co. (NYSE:PRA)’s share price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $14.34 and traded as high as $15.03. ProAssurance shares last traded at $14.24, with a volume of 197,380 shares traded.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on PRA shares. StockNews.com raised ProAssurance from a “hold” rating to a “buy” rating in a report on Thursday, December 26th. 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. Finally, Truist Financial raised their price target on ProAssurance from $14.00 to $18.00 and gave the company a “hold” rating in a research report on Tuesday, November 12th.

ProAssurance Stock Performance

The stock has a market cap of $728.46 million, a PE ratio of 17.16 and a beta of 0.29. The company has a fifty day moving average price of $16.25 and a 200 day moving average price of $14.34. 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 Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Commonwealth Equity Services LLC increased its holdings in ProAssurance by 2.5% during 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 increased its holdings in ProAssurance by 8.1% during the 2nd quarter. Arizona State Retirement System now owns 15,136 shares of the insurance provider’s stock valued at $185,000 after purchasing an additional 1,128 shares during the period. The Manufacturers Life Insurance Company increased its holdings in ProAssurance by 7.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,106 shares of the insurance provider’s stock valued at $258,000 after purchasing an additional 1,521 shares during the period. Jacobs Levy Equity Management Inc. increased its holdings in ProAssurance by 0.3% during 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 during the period. Finally, Private Advisor Group LLC boosted its position in ProAssurance by 12.8% during the 3rd quarter. Private Advisor Group LLC now owns 16,806 shares of the insurance provider’s stock valued at $253,000 after acquiring an additional 1,905 shares in the last quarter. Hedge funds and other institutional investors own 85.58% of the company’s stock.

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.