Barclays PLC Grows Stock Holdings in ProAssurance Co. (NYSE:PRA)

Barclays PLC boosted its holdings in ProAssurance Co. (NYSE:PRA) by 307.5% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 85,117 shares of the insurance provider’s stock after purchasing an additional 64,228 shares during the quarter. Barclays PLC owned about 0.17% of ProAssurance worth $1,280,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. XTX Topco Ltd purchased a new stake in ProAssurance in the 3rd quarter valued at $403,000. Zacks Investment Management purchased a new position in ProAssurance during the 3rd quarter worth $5,140,000. Wellington Management Group LLP lifted its position in ProAssurance by 3.0% in the third quarter. Wellington Management Group LLP now owns 3,164,085 shares of the insurance provider’s stock valued at $47,588,000 after purchasing an additional 91,987 shares during the period. State Street Corp boosted its stake in shares of ProAssurance by 1.8% in the third quarter. State Street Corp now owns 1,968,754 shares of the insurance provider’s stock valued at $29,610,000 after buying an additional 34,247 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its stake in shares of ProAssurance by 0.3% during 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. 85.58% of the stock is owned by hedge funds and other institutional investors.

ProAssurance Price Performance

PRA stock opened at $15.66 on Monday. The stock has a market capitalization of $801.10 million, a price-to-earnings ratio of 18.87 and a beta of 0.28. The stock’s fifty day simple moving average is $16.19 and its 200-day simple moving average is $14.17. ProAssurance Co. has a 52-week low of $10.76 and a 52-week 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.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on PRA shares. Truist Financial lifted their price objective on ProAssurance from $14.00 to $18.00 and gave the stock a “hold” rating in a report on Tuesday, November 12th. Piper Sandler cut shares of ProAssurance from an “overweight” rating to a “neutral” rating and set a $18.00 price objective on the stock. in a research note on Monday, November 11th. Finally, StockNews.com upgraded shares of ProAssurance from a “hold” rating to a “buy” rating in a research report on Thursday.

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.