ProAssurance Co. (NYSE:PRA) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. reduced its position in shares of ProAssurance Co. (NYSE:PRA) by 4.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 241,150 shares of the insurance provider’s stock after selling 10,774 shares during the period. Principal Financial Group Inc. owned approximately 0.47% of ProAssurance worth $3,627,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Bank of New York Mellon Corp grew its stake in shares of ProAssurance by 2.1% in 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 purchasing an additional 8,549 shares during the last quarter. Commonwealth Equity Services LLC boosted its holdings in ProAssurance by 2.5% during the second quarter. Commonwealth Equity Services LLC now owns 32,346 shares of the insurance provider’s stock worth $395,000 after buying an additional 800 shares in the last quarter. Arizona State Retirement System grew its position in ProAssurance by 8.1% in the second quarter. Arizona State Retirement System now owns 15,136 shares of the insurance provider’s stock worth $185,000 after buying an additional 1,128 shares during the last quarter. Texas Permanent School Fund Corp increased its holdings in shares of ProAssurance by 52.7% in the second quarter. Texas Permanent School Fund Corp now owns 67,588 shares of the insurance provider’s stock valued at $826,000 after buying an additional 23,327 shares in the last quarter. Finally, American Century Companies Inc. lifted its position in shares of ProAssurance by 4.7% during the 2nd 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. 85.58% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Truist Financial lifted 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. Piper Sandler downgraded 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. Finally, StockNews.com raised shares of ProAssurance from a “hold” rating to a “buy” rating in a research note on Thursday, December 26th.

ProAssurance Stock Performance

Shares of ProAssurance stock opened at $15.71 on Friday. ProAssurance Co. has a 12 month low of $10.76 and a 12 month high of $17.79. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.35. The stock has a market cap of $803.66 million, a PE ratio of 18.93 and a beta of 0.28. The business has a fifty day simple moving average of $16.24 and a 200-day simple moving average of $14.24.

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.