Zacks Investment Management Buys Shares of 341,785 ProAssurance Co. (NYSE:PRA)

Zacks Investment Management bought a new position in shares of ProAssurance Co. (NYSE:PRA) in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund bought 341,785 shares of the insurance provider’s stock, valued at approximately $5,140,000. Zacks Investment Management owned 0.67% of ProAssurance at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of PRA. Wellington Management Group LLP boosted its stake in ProAssurance by 3.0% during the 3rd quarter. Wellington Management Group LLP now owns 3,164,085 shares of the insurance provider’s stock worth $47,588,000 after acquiring an additional 91,987 shares during the last quarter. State Street Corp boosted its position in shares of ProAssurance by 1.8% during the third quarter. State Street Corp now owns 1,968,754 shares of the insurance provider’s stock worth $29,610,000 after purchasing an additional 34,247 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of ProAssurance by 1.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,311,435 shares of the insurance provider’s stock worth $19,724,000 after purchasing an additional 18,718 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in shares of ProAssurance by 0.3% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 587,901 shares of the insurance provider’s stock valued at $8,842,000 after buying an additional 1,738 shares during the period. Finally, Assenagon Asset Management S.A. increased its position in shares of ProAssurance by 91.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 485,501 shares of the insurance provider’s stock valued at $7,302,000 after buying an additional 231,852 shares in the last quarter. 85.58% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on PRA shares. Truist Financial boosted their target price on ProAssurance from $14.00 to $18.00 and gave the company a “hold” rating in a research note on Tuesday, November 12th. StockNews.com lowered ProAssurance from a “buy” rating to a “hold” rating in a research report on Tuesday, November 19th. Finally, Piper Sandler downgraded shares of ProAssurance from an “overweight” rating to a “neutral” rating and set a $18.00 target price on the stock. in a report on Monday, November 11th.

ProAssurance Stock Performance

PRA opened at $16.90 on Friday. The company has a market capitalization of $864.60 million, a price-to-earnings ratio of 20.36 and a beta of 0.28. The business’s 50-day moving average price is $15.82 and its two-hundred day moving average price is $13.94. ProAssurance Co. has a 1 year low of $10.76 and a 1 year high of $17.79. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.28 and a quick ratio of 0.28.

ProAssurance 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.