Principal Financial Group Inc. Sells 10,774 Shares of ProAssurance Co. (NYSE:PRA)

Principal Financial Group Inc. decreased its position in shares of ProAssurance Co. (NYSE:PRA) by 4.3% during the third quarter, according to its most recent filing with the SEC. The firm owned 241,150 shares of the insurance provider’s stock after selling 10,774 shares during the period. Principal Financial Group Inc.’s holdings in ProAssurance were worth $3,627,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Deerfield Management Company L.P. Series C boosted its holdings in shares of ProAssurance by 199.4% during the 2nd quarter. Deerfield Management Company L.P. Series C now owns 80,425 shares of the insurance provider’s stock valued at $983,000 after buying an additional 53,560 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in ProAssurance by 1.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,311,435 shares of the insurance provider’s stock worth $19,724,000 after acquiring an additional 18,718 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in ProAssurance by 2.4% during the second quarter. Assenagon Asset Management S.A. now owns 253,649 shares of the insurance provider’s stock worth $3,100,000 after acquiring an additional 6,062 shares in the last quarter. Public Sector Pension Investment Board grew its holdings in ProAssurance by 6.1% in the second quarter. Public Sector Pension Investment Board now owns 112,203 shares of the insurance provider’s stock worth $1,371,000 after purchasing an additional 6,437 shares during the period. Finally, AQR Capital Management LLC boosted its position in shares of ProAssurance by 25.7% in the 2nd quarter. AQR Capital Management LLC now owns 243,834 shares of the insurance provider’s stock worth $2,980,000 after purchasing an additional 49,851 shares in the last quarter. Institutional investors own 85.58% of the company’s stock.

ProAssurance Price Performance

Shares of NYSE:PRA opened at $16.67 on Friday. 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 firm has a market cap of $852.84 million, a price-to-earnings ratio of 19.76 and a beta of 0.24. The business has a 50-day simple moving average of $15.10 and a two-hundred day simple moving average of $13.76. ProAssurance Co. has a fifty-two week low of $10.76 and a fifty-two week high of $17.79.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on PRA shares. Piper Sandler lowered ProAssurance from an “overweight” rating to a “neutral” rating and set a $18.00 price target for the company. in a research report on Monday, November 11th. Truist Financial lifted their target price on shares of ProAssurance from $14.00 to $18.00 and gave the stock a “hold” rating in a report on Tuesday, November 12th. Finally, StockNews.com downgraded shares of ProAssurance from a “buy” rating to a “hold” rating in a research report on Tuesday. Three analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, ProAssurance has an average rating of “Hold” and an average target price of $18.67.

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.