Thrivent Financial for Lutherans Reduces Stock Position in ProAssurance Co. (NYSE:PRA)

Thrivent Financial for Lutherans lessened its position in shares of ProAssurance Co. (NYSE:PRA) by 5.1% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 40,172 shares of the insurance provider’s stock after selling 2,175 shares during the quarter. Thrivent Financial for Lutherans owned 0.08% of ProAssurance worth $604,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC raised its holdings in ProAssurance by 1.4% in the 3rd 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 during the period. Assenagon Asset Management S.A. raised its holdings in shares of ProAssurance by 91.4% during the third quarter. Assenagon Asset Management S.A. now owns 485,501 shares of the insurance provider’s stock valued at $7,302,000 after acquiring an additional 231,852 shares during the last quarter. Dana Investment Advisors Inc. raised its holdings in shares of ProAssurance by 33.6% during the second quarter. Dana Investment Advisors Inc. now owns 434,850 shares of the insurance provider’s stock valued at $5,314,000 after acquiring an additional 109,253 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of ProAssurance by 2.1% during the second quarter. Bank of New York Mellon Corp now owns 417,150 shares of the insurance provider’s stock valued at $5,098,000 after acquiring an additional 8,549 shares during the last quarter. Finally, American Century Companies Inc. raised its holdings in shares of ProAssurance by 4.7% during the second quarter. American Century Companies Inc. now owns 305,698 shares of the insurance provider’s stock valued at $3,736,000 after acquiring an additional 13,650 shares during the last quarter. Hedge funds and other institutional investors own 85.58% of the company’s stock.

ProAssurance Stock Up 1.3 %

ProAssurance stock opened at $16.74 on Thursday. 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. The stock has a market cap of $856.42 million, a PE ratio of 20.17 and a beta of 0.28. The stock’s fifty day moving average is $15.72 and its two-hundred day moving average is $13.90.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. StockNews.com cut ProAssurance from a “buy” rating to a “hold” rating in a report on Tuesday, November 19th. Truist Financial increased their price target on ProAssurance from $14.00 to $18.00 and gave the company a “hold” rating in a report on Tuesday, November 12th. Finally, 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, November 11th. Three research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, ProAssurance currently has a consensus rating of “Hold” and an average target price of $18.67.

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.