State Street Corp Purchases 34,247 Shares of ProAssurance Co. (NYSE:PRA)

State Street Corp lifted its position in ProAssurance Co. (NYSE:PRA) by 1.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,968,754 shares of the insurance provider’s stock after purchasing an additional 34,247 shares during the quarter. State Street Corp owned 3.85% of ProAssurance worth $29,610,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Commonwealth Equity Services LLC grew its holdings 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 valued at $395,000 after purchasing an additional 800 shares during the last quarter. Arizona State Retirement System lifted its stake in shares of ProAssurance by 8.1% in the 2nd quarter. Arizona State Retirement System now owns 15,136 shares of the insurance provider’s stock valued at $185,000 after acquiring an additional 1,128 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in ProAssurance by 7.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,106 shares of the insurance provider’s stock worth $258,000 after acquiring an additional 1,521 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its stake in ProAssurance by 0.3% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 587,901 shares of the insurance provider’s stock worth $8,842,000 after purchasing an additional 1,738 shares during the period. Finally, Private Advisor Group LLC lifted its position in ProAssurance by 12.8% in the third quarter. Private Advisor Group LLC now owns 16,806 shares of the insurance provider’s stock valued at $253,000 after purchasing an additional 1,905 shares during the last quarter. 85.58% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

PRA has been the subject of several analyst reports. Piper Sandler cut shares of ProAssurance from an “overweight” rating to a “neutral” rating and set a $18.00 price target for the company. in a research report on Monday, November 11th. Truist Financial raised their price target on ProAssurance from $14.00 to $18.00 and gave the stock a “hold” rating in a research note on Tuesday, November 12th. Finally, StockNews.com downgraded shares of ProAssurance from a “buy” rating to a “hold” rating in a research note on Wednesday.

ProAssurance Stock Down 0.4 %

PRA stock opened at $15.76 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.28 and a quick ratio of 0.28. ProAssurance Co. has a 1-year low of $10.76 and a 1-year high of $17.79. The stock has a market capitalization of $806.22 million, a P/E ratio of 18.99 and a beta of 0.28. The business has a fifty day moving average price of $16.15 and a 200-day moving average price of $14.08.

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.