StockNews.com Downgrades ProAssurance (NYSE:PRA) to Hold

ProAssurance (NYSE:PRA) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Wednesday.

Several other research firms have also recently weighed in on PRA. Truist Financial increased their target price 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 cut shares of ProAssurance from an “overweight” rating to a “neutral” rating and set a $18.00 price target for the company. in a research note on Monday, November 11th.

ProAssurance Stock Down 1.9 %

PRA stock opened at $16.44 on Wednesday. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.28 and a quick ratio of 0.28. The company has a 50-day moving average of $16.04 and a two-hundred day moving average of $14.03. ProAssurance has a 52-week low of $10.76 and a 52-week high of $17.79. The stock has a market capitalization of $841.00 million, a price-to-earnings ratio of 19.81 and a beta of 0.28.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp increased 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 buying an additional 8,549 shares in the last quarter. Innealta Capital LLC acquired a new stake in shares of ProAssurance during the second quarter worth approximately $69,000. Commonwealth Equity Services LLC increased its holdings in shares of ProAssurance by 2.5% during the second quarter. Commonwealth Equity Services LLC now owns 32,346 shares of the insurance provider’s stock worth $395,000 after buying an additional 800 shares in the last quarter. Arizona State Retirement System increased its holdings in shares of ProAssurance by 8.1% during the second quarter. Arizona State Retirement System now owns 15,136 shares of the insurance provider’s stock worth $185,000 after buying an additional 1,128 shares in the last quarter. Finally, Texas Permanent School Fund Corp increased its holdings in shares of ProAssurance by 52.7% during the second 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 in the last quarter. Institutional investors own 85.58% of the company’s stock.

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.