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

ProAssurance (NYSE:PRA) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

PRA has been the subject of several other reports. Truist Financial upped 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 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.

ProAssurance Trading Down 0.1 %

NYSE:PRA opened at $15.83 on Wednesday. The firm has a market capitalization of $809.80 million, a P/E ratio of 19.07 and a beta of 0.28. 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 company has a fifty day moving average of $16.13 and a 200 day moving average of $14.07. ProAssurance has a 52 week low of $10.76 and a 52 week high of $17.79.

Institutional Investors Weigh In On ProAssurance

A number of large investors have recently modified their holdings of PRA. Deerfield Management Company L.P. Series C lifted its holdings in ProAssurance by 199.4% in the second quarter. Deerfield Management Company L.P. Series C now owns 80,425 shares of the insurance provider’s stock worth $983,000 after buying an additional 53,560 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in shares of ProAssurance by 1.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,311,435 shares of the insurance provider’s stock valued at $19,724,000 after purchasing an additional 18,718 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of ProAssurance by 402.1% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 68,435 shares of the insurance provider’s stock valued at $1,029,000 after purchasing an additional 54,806 shares in the last quarter. Public Sector Pension Investment Board grew its stake 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 grew its stake in ProAssurance by 25.7% in the second 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 during the period. 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.