ProAssurance (NYSE:PRA) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of ProAssurance (NYSE:PRA) from a hold rating to a buy rating in a report released on Thursday.

A number of other research analysts have also weighed in on the company. Piper Sandler lowered 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. Truist Financial increased their price objective on shares of ProAssurance from $14.00 to $18.00 and gave the company a “hold” rating in a research report on Tuesday, November 12th.

ProAssurance Stock Performance

NYSE PRA opened at $15.61 on Thursday. The firm has a market capitalization of $798.56 million, a P/E ratio of 18.81 and a beta of 0.27. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.35. The firm’s fifty day moving average price is $15.10 and its two-hundred day moving average price is $15.14. ProAssurance has a 1 year low of $10.76 and a 1 year high of $17.79.

ProAssurance (NYSE:PRA) last issued its earnings results on Monday, February 24th. The insurance provider reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.19. The business had revenue of $287.52 million during the quarter, compared to the consensus estimate of $274.56 million. ProAssurance had a net margin of 3.71% and a return on equity of 2.65%. As a group, research analysts anticipate that ProAssurance will post 0.8 EPS for the current year.

Institutional Trading of ProAssurance

Several institutional investors have recently added to or reduced their stakes in PRA. Sterling Capital Management LLC lifted its holdings in shares of ProAssurance by 859.4% during the fourth quarter. Sterling Capital Management LLC now owns 1,631 shares of the insurance provider’s stock worth $26,000 after buying an additional 1,461 shares in the last quarter. KBC Group NV raised its stake in ProAssurance by 75.4% in the 4th quarter. KBC Group NV now owns 4,184 shares of the insurance provider’s stock worth $67,000 after purchasing an additional 1,798 shares in the last quarter. Aquatic Capital Management LLC raised its stake in ProAssurance by 148.6% in the 4th quarter. Aquatic Capital Management LLC now owns 6,214 shares of the insurance provider’s stock worth $99,000 after purchasing an additional 3,714 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. grew its position in shares of ProAssurance by 94.3% during 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 in the last quarter. Finally, KLP Kapitalforvaltning AS bought a new position in shares of ProAssurance during the fourth quarter worth approximately $150,000. 85.58% of the stock is currently owned by institutional investors.

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.