ProAssurance (NYSE:PRA) Share Price Passes Above 200 Day Moving Average – Here’s Why

ProAssurance Co. (NYSE:PRA)’s share price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $14.34 and traded as high as $15.03. ProAssurance shares last traded at $14.24, with a volume of 197,380 shares.

Analysts Set New Price Targets

PRA has been the topic of several research reports. Piper Sandler lowered ProAssurance from an “overweight” rating to a “neutral” rating and set a $18.00 price target on the stock. in a research note on Monday, November 11th. Truist Financial increased their price target on ProAssurance from $14.00 to $18.00 and gave the stock a “hold” rating in a report on Tuesday, November 12th. Finally, StockNews.com upgraded ProAssurance from a “hold” rating to a “buy” rating in a report on Thursday, December 26th.

ProAssurance Stock Performance

The firm has a market cap of $728.46 million, a price-to-earnings ratio of 17.16 and a beta of 0.29. The stock has a 50-day moving average of $16.25 and a 200-day moving average of $14.34. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.28 and a current ratio of 0.28.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Barclays PLC boosted its stake in shares of ProAssurance by 307.5% during the 3rd quarter. Barclays PLC now owns 85,117 shares of the insurance provider’s stock worth $1,280,000 after acquiring an additional 64,228 shares during the period. State Street Corp increased its position in ProAssurance by 1.8% in the third quarter. State Street Corp now owns 1,968,754 shares of the insurance provider’s stock worth $29,610,000 after buying an additional 34,247 shares during the last quarter. Deerfield Management Company L.P. Series C increased its position in ProAssurance by 199.4% in the second quarter. Deerfield Management Company L.P. Series C now owns 80,425 shares of the insurance provider’s stock worth $983,000 after buying an additional 53,560 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in 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 buying an additional 18,718 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in ProAssurance by 402.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 68,435 shares of the insurance provider’s stock worth $1,029,000 after buying an additional 54,806 shares during the last quarter. Institutional investors and hedge funds own 85.58% of the company’s stock.

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.