ProAssurance (NYSE:PRA) Rating Lowered to Neutral at Piper Sandler

ProAssurance (NYSE:PRA) was downgraded by stock analysts at Piper Sandler from an “overweight” rating to a “neutral” rating in a report issued on Monday, Marketbeat Ratings reports. They presently have a $18.00 price objective on the insurance provider’s stock. Piper Sandler’s target price would suggest a potential upside of 5.14% from the stock’s previous close.

PRA has been the topic of several other reports. JMP Securities decreased their price target on shares of ProAssurance from $22.00 to $20.00 and set a “market outperform” rating on the stock in a research report on Wednesday, July 17th. Truist Financial decreased their target price on ProAssurance from $16.00 to $14.00 and set a “hold” rating on the stock in a research report on Monday, August 12th. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $18.67.

ProAssurance Stock Down 1.1 %

PRA opened at $17.12 on Monday. The business has a 50 day moving average of $14.60 and a 200-day moving average of $13.61. The stock has a market capitalization of $875.79 million, a price-to-earnings ratio of 20.63 and a beta of 0.24. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.38. ProAssurance has a 1-year low of $10.76 and a 1-year high of $17.79.

Institutional Trading of ProAssurance

Institutional investors have recently made changes to their positions in the business. BNP Paribas Financial Markets lifted its stake in ProAssurance by 14.5% during the first quarter. BNP Paribas Financial Markets now owns 38,649 shares of the insurance provider’s stock worth $497,000 after purchasing an additional 4,885 shares during the period. ProShare Advisors LLC bought a new position in shares of ProAssurance during the 1st quarter worth approximately $132,000. State Board of Administration of Florida Retirement System boosted its stake in ProAssurance by 62.7% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 25,094 shares of the insurance provider’s stock valued at $323,000 after buying an additional 9,670 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its position in ProAssurance by 12.0% in the first quarter. CANADA LIFE ASSURANCE Co now owns 46,875 shares of the insurance provider’s stock valued at $603,000 after acquiring an additional 5,008 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its stake in ProAssurance by 3.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 44,323 shares of the insurance provider’s stock worth $570,000 after acquiring an additional 1,619 shares in the last quarter. 85.58% of the stock is currently owned by institutional investors and hedge funds.

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.