Truist Financial Issues Positive Forecast for ProAssurance (NYSE:PRA) Stock Price

ProAssurance (NYSE:PRA) had its price objective increased by Truist Financial from $14.00 to $18.00 in a research report sent to investors on Tuesday morning,Benzinga reports. Truist Financial currently has a hold rating on the insurance provider’s stock.

Other equities research analysts also recently issued research reports about the stock. StockNews.com raised shares of ProAssurance from a “hold” rating to a “buy” rating in a research report on Monday, November 11th. Piper Sandler cut ProAssurance from an “overweight” rating to a “neutral” rating and set a $18.00 price objective for the company. in a research report on Monday, November 11th. Finally, JMP Securities lowered their price objective on shares of ProAssurance from $22.00 to $20.00 and set a “market outperform” rating on the stock in a research note on Wednesday, July 17th. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, ProAssurance currently has an average rating of “Moderate Buy” and an average target price of $18.67.

ProAssurance Trading Up 0.4 %

NYSE PRA opened at $16.88 on Tuesday. ProAssurance has a 12 month low of $10.76 and a 12 month high of $17.79. 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 stock’s fifty day moving average price is $14.81 and its 200-day moving average price is $13.68. The stock has a market cap of $863.51 million, a P/E ratio of 20.34 and a beta of 0.24.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Commonwealth Equity Services LLC boosted its position in ProAssurance by 2.5% during the second 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 in the last quarter. Arizona State Retirement System raised its stake in ProAssurance by 8.1% in 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 last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of ProAssurance by 7.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,106 shares of the insurance provider’s stock valued at $258,000 after acquiring an additional 1,521 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in ProAssurance by 3.8% during 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 acquiring an additional 1,619 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its stake in shares of ProAssurance by 0.3% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 587,901 shares of the insurance provider’s stock worth $8,842,000 after acquiring an additional 1,738 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.