ProAssurance (NYSE:PRA) Lowered to Neutral Rating by Piper Sandler

Piper Sandler cut shares of ProAssurance (NYSE:PRA) from an overweight rating to a neutral rating in a research report released on Monday, Marketbeat.com reports. The brokerage currently has $18.00 price target on the insurance provider’s stock.

A number of other analysts have also weighed in on the stock. JMP Securities lowered their price objective on shares of ProAssurance from $22.00 to $20.00 and set a “market outperform” rating for the company in a research note on Wednesday, July 17th. Truist Financial dropped their price objective on shares of ProAssurance from $16.00 to $14.00 and set a “hold” rating on the stock in a research note on Monday, August 12th. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $18.67.

ProAssurance Stock Down 2.1 %

Shares of PRA opened at $16.81 on Monday. The firm has a fifty day moving average price of $14.74 and a 200-day moving average price of $13.66. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $860.00 million, a P/E ratio of 20.70 and a beta of 0.24. ProAssurance has a 12-month low of $10.76 and a 12-month high of $17.79.

Hedge Funds Weigh In On ProAssurance

Several institutional investors and hedge funds have recently bought and sold shares of PRA. 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 worth $395,000 after purchasing an additional 800 shares in the last quarter. Arizona State Retirement System lifted its position in ProAssurance by 8.1% during the 2nd quarter. Arizona State Retirement System now owns 15,136 shares of the insurance provider’s stock worth $185,000 after acquiring an additional 1,128 shares during the period. The Manufacturers Life Insurance Company grew its stake 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 last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of ProAssurance by 3.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 44,323 shares of the insurance provider’s stock valued at $570,000 after purchasing an additional 1,619 shares during the period. Finally, Private Advisor Group LLC raised its stake in shares of ProAssurance by 12.8% in the third quarter. Private Advisor Group LLC now owns 16,806 shares of the insurance provider’s stock worth $253,000 after purchasing an additional 1,905 shares during the last quarter. 85.58% of the stock is owned by hedge funds and other 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.