ProAssurance Co. (NYSE:PRA) Short Interest Down 15.7% in December

ProAssurance Co. (NYSE:PRA) was the recipient of a large decrease in short interest in the month of December. As of December 15th, there was short interest totalling 481,100 shares, a decrease of 15.7% from the November 30th total of 571,000 shares. Based on an average daily volume of 257,700 shares, the days-to-cover ratio is currently 1.9 days. Currently, 1.0% of the shares of the company are sold short.

ProAssurance Stock Performance

Shares of NYSE:PRA traded down $0.30 during midday trading on Friday, reaching $15.66. 201,925 shares of the company traded hands, compared to its average volume of 279,012. ProAssurance has a 12 month low of $10.76 and a 12 month high of $17.79. The firm’s fifty day moving average price is $16.19 and its two-hundred day moving average price is $14.16. 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 firm has a market capitalization of $801.10 million, a price-to-earnings ratio of 18.87 and a beta of 0.28.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Bank of New York Mellon Corp increased its stake in ProAssurance by 2.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 417,150 shares of the insurance provider’s stock worth $5,098,000 after acquiring an additional 8,549 shares during the last quarter. Commonwealth Equity Services LLC grew its position in ProAssurance by 2.5% in the second quarter. Commonwealth Equity Services LLC now owns 32,346 shares of the insurance provider’s stock worth $395,000 after acquiring an additional 800 shares in the last quarter. Arizona State Retirement System raised its position in ProAssurance by 8.1% during the second quarter. Arizona State Retirement System now owns 15,136 shares of the insurance provider’s stock valued at $185,000 after purchasing an additional 1,128 shares in the last quarter. Texas Permanent School Fund Corp lifted its stake in 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 purchasing an additional 23,327 shares during the last quarter. Finally, American Century Companies Inc. boosted its holdings in shares of ProAssurance by 4.7% in the 2nd quarter. American Century Companies Inc. now owns 305,698 shares of the insurance provider’s stock worth $3,736,000 after purchasing an additional 13,650 shares in the last quarter. 85.58% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

PRA has been the subject of several research analyst reports. Truist Financial raised their price target on shares of ProAssurance from $14.00 to $18.00 and gave the stock a “hold” rating in a research note on Tuesday, November 12th. StockNews.com upgraded ProAssurance from a “hold” rating to a “buy” rating in a research note on Thursday. Finally, Piper Sandler lowered ProAssurance from an “overweight” rating to a “neutral” rating and set a $18.00 price objective for the company. in a report on Monday, November 11th.

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.