The Manufacturers Life Insurance Company Has $291,000 Position in ProAssurance Co. (NYSE:PRA)

The Manufacturers Life Insurance Company lessened its position in ProAssurance Co. (NYSE:PRA) by 8.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 19,375 shares of the insurance provider’s stock after selling 1,731 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in ProAssurance were worth $291,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of PRA. Commonwealth Equity Services LLC increased its position in shares of ProAssurance by 2.5% during the 2nd quarter. Commonwealth Equity Services LLC now owns 32,346 shares of the insurance provider’s stock worth $395,000 after purchasing an additional 800 shares during the last quarter. Arizona State Retirement System increased its position in shares of ProAssurance by 8.1% during the 2nd quarter. Arizona State Retirement System now owns 15,136 shares of the insurance provider’s stock worth $185,000 after purchasing an additional 1,128 shares during the last quarter. Private Advisor Group LLC increased its position in shares of ProAssurance by 12.8% during the 3rd quarter. Private Advisor Group LLC now owns 16,806 shares of the insurance provider’s stock worth $253,000 after purchasing an additional 1,905 shares during the last quarter. Sei Investments Co. increased its position in shares of ProAssurance by 5.7% during the 2nd quarter. Sei Investments Co. now owns 40,929 shares of the insurance provider’s stock worth $500,000 after purchasing an additional 2,202 shares during the last quarter. Finally, Point72 Hong Kong Ltd acquired a new position in shares of ProAssurance during the 2nd quarter worth approximately $28,000. Institutional investors and hedge funds own 85.58% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Truist Financial boosted their target price on ProAssurance from $14.00 to $18.00 and gave the stock a “hold” rating in a report on Tuesday, November 12th. StockNews.com raised ProAssurance from a “hold” rating to a “buy” rating in a report on Tuesday, December 10th. Finally, Piper Sandler lowered ProAssurance from an “overweight” rating to a “neutral” rating and set a $18.00 price objective on the stock. in a report on Monday, November 11th.

ProAssurance Stock Performance

PRA opened at $16.65 on Monday. The firm has a market cap of $851.75 million, a P/E ratio of 20.06 and a beta of 0.28. ProAssurance Co. has a 52-week low of $10.76 and a 52-week high of $17.79. 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 business’s fifty day moving average is $15.99 and its 200-day moving average is $14.01.

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.