Truist Financial Increases ProAssurance (NYSE:PRA) Price Target to $18.00

ProAssurance (NYSE:PRA) had its price target hoisted by Truist Financial from $14.00 to $18.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a hold rating on the insurance provider’s stock.

PRA has been the subject of several other research reports. StockNews.com upgraded shares of ProAssurance from a “hold” rating to a “buy” rating in a research note on Monday. Piper Sandler cut ProAssurance from an “overweight” rating to a “neutral” rating and set a $18.00 price target for the company. in a report on Monday. Finally, JMP Securities lowered their target price on ProAssurance from $22.00 to $20.00 and set a “market outperform” rating for the company in a research note on Wednesday, July 17th. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $18.67.

ProAssurance Price Performance

Shares of NYSE PRA opened at $16.81 on Tuesday. 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 market cap of $860.00 million, a PE ratio of 20.25 and a beta of 0.24. ProAssurance has a twelve month low of $10.76 and a twelve month high of $17.79. The business’s 50 day moving average price is $14.74 and its two-hundred day moving average price is $13.66.

Institutional Investors Weigh In On ProAssurance

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Point72 Asia Singapore Pte. Ltd. raised its position in shares of ProAssurance by 94.3% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 8,347 shares of the insurance provider’s stock worth $126,000 after acquiring an additional 4,052 shares in the last quarter. Verition Fund Management LLC grew its stake in shares of ProAssurance by 164.1% in the 3rd quarter. Verition Fund Management LLC now owns 36,589 shares of the insurance provider’s stock valued at $550,000 after buying an additional 22,737 shares during the period. BNP Paribas Financial Markets raised its stake in ProAssurance by 30.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 17,978 shares of the insurance provider’s stock worth $270,000 after buying an additional 4,149 shares during the period. FMR LLC increased its holdings in shares of ProAssurance by 197.8% during the third quarter. FMR LLC now owns 12,063 shares of the insurance provider’s stock valued at $181,000 after acquiring an additional 8,012 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of ProAssurance by 402.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 68,435 shares of the insurance provider’s stock worth $1,029,000 after purchasing an additional 54,806 shares in the last quarter. Institutional investors and hedge funds own 85.58% of the company’s stock.

About ProAssurance

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.