Allspring Global Investments Holdings LLC Increases Stock Position in ProAssurance Co. (NYSE:PRA)

Allspring Global Investments Holdings LLC grew its holdings in shares of ProAssurance Co. (NYSE:PRA) by 0.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,316,249 shares of the insurance provider’s stock after buying an additional 4,814 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in ProAssurance were worth $20,678,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. nVerses Capital LLC bought a new position in ProAssurance during the 3rd quarter valued at about $44,000. KBC Group NV grew its stake in ProAssurance by 75.4% in the 4th quarter. KBC Group NV now owns 4,184 shares of the insurance provider’s stock worth $67,000 after acquiring an additional 1,798 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. grew its stake in ProAssurance by 94.3% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 8,347 shares of the insurance provider’s stock worth $126,000 after acquiring an additional 4,052 shares in the last quarter. FMR LLC grew its stake 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 acquiring an additional 8,012 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in ProAssurance in the 3rd quarter worth about $250,000. 85.58% of the stock is currently owned by hedge funds and other institutional investors.

ProAssurance Trading Down 0.8 %

NYSE:PRA opened at $14.47 on Monday. ProAssurance Co. has a 52 week low of $10.76 and a 52 week high of $17.79. The firm has a 50 day moving average of $15.42 and a 200 day moving average of $14.92. 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 stock has a market capitalization of $740.29 million, a price-to-earnings ratio of 17.43 and a beta of 0.27.

Wall Street Analysts Forecast Growth

PRA has been the topic of a number of recent research reports. Truist Financial increased their price objective 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 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. Finally, StockNews.com upgraded shares of ProAssurance from a “hold” rating to a “buy” rating in a research note on Thursday, December 26th.

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.