ProAssurance (NYSE:PRA) Share Price Passes Above Two Hundred Day Moving Average – Should You Sell?

ProAssurance Co. (NYSE:PRA)’s stock price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $14.34 and traded as high as $15.03. ProAssurance shares last traded at $14.24, with a volume of 197,380 shares changing hands.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on PRA. StockNews.com raised shares of ProAssurance from a “hold” rating to a “buy” rating in a research note on Thursday, December 26th. Piper Sandler lowered shares of ProAssurance from an “overweight” rating to a “neutral” rating and set a $18.00 price target on the stock. in a research report on Monday, November 11th. Finally, Truist Financial increased their price objective on ProAssurance from $14.00 to $18.00 and gave the company a “hold” rating in a research report on Tuesday, November 12th.

ProAssurance Trading Down 6.1 %

The company has a market cap of $728.46 million, a PE ratio of 17.16 and a beta of 0.29. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.28 and a current ratio of 0.28. The company has a 50 day simple moving average of $16.25 and a two-hundred day simple moving average of $14.35.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Point72 Hong Kong Ltd acquired a new position in shares of ProAssurance in the second quarter worth $28,000. nVerses Capital LLC purchased a new position in ProAssurance in the third quarter valued at about $44,000. Point72 Asia Singapore Pte. Ltd. increased its position in 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 purchasing an additional 4,052 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in shares of ProAssurance during the 2nd quarter worth about $166,000. Finally, FMR LLC lifted its holdings in shares of ProAssurance by 197.8% during the 3rd quarter. FMR LLC now owns 12,063 shares of the insurance provider’s stock valued at $181,000 after buying an additional 8,012 shares during 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.