Fmr LLC Acquires 8,012 Shares of ProAssurance Co. (NYSE:PRA)

Fmr LLC increased its holdings in ProAssurance Co. (NYSE:PRA) by 197.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,063 shares of the insurance provider’s stock after acquiring an additional 8,012 shares during the period. Fmr LLC’s holdings in ProAssurance were worth $181,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC raised its stake in shares of ProAssurance by 1.4% in the third 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 last quarter. Assenagon Asset Management S.A. grew its holdings in ProAssurance by 91.4% during the third quarter. Assenagon Asset Management S.A. now owns 485,501 shares of the insurance provider’s stock worth $7,302,000 after buying an additional 231,852 shares in the last quarter. Dana Investment Advisors Inc. lifted its stake in ProAssurance by 33.6% during the 2nd 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 in the last quarter. Bank of New York Mellon Corp boosted its holdings in ProAssurance by 2.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 417,150 shares of the insurance provider’s stock worth $5,098,000 after acquiring an additional 8,549 shares during the last quarter. Finally, American Century Companies Inc. boosted its holdings in ProAssurance by 4.7% during the 2nd quarter. American Century Companies Inc. now owns 305,698 shares of the insurance provider’s stock worth $3,736,000 after acquiring an additional 13,650 shares during the last quarter. Institutional investors own 85.58% of the company’s stock.

Wall Street Analysts Forecast Growth

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

ProAssurance Price Performance

PRA opened at $15.76 on Friday. ProAssurance Co. has a fifty-two week low of $10.76 and a fifty-two week high of $17.79. The firm has a 50-day moving average of $16.15 and a 200 day moving average of $14.08. 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 firm has a market cap of $806.22 million, a P/E ratio of 18.99 and a beta of 0.28.

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.