Barclays PLC Buys 64,228 Shares of ProAssurance Co. (NYSE:PRA)

Barclays PLC increased its stake in ProAssurance Co. (NYSE:PRA) by 307.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 85,117 shares of the insurance provider’s stock after purchasing an additional 64,228 shares during the period. Barclays PLC owned 0.17% of ProAssurance worth $1,280,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Point72 Hong Kong Ltd acquired a new position in ProAssurance in the second quarter valued at approximately $28,000. nVerses Capital LLC bought a new position in shares of ProAssurance in the 3rd quarter worth $44,000. Point72 Asia Singapore Pte. Ltd. grew its stake in shares of ProAssurance by 94.3% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 8,347 shares of the insurance provider’s stock worth $126,000 after purchasing an additional 4,052 shares during the period. Susquehanna Fundamental Investments LLC acquired a new stake in shares of ProAssurance during the second quarter worth $166,000. Finally, FMR LLC increased its holdings in ProAssurance by 197.8% in the third quarter. FMR LLC now owns 12,063 shares of the insurance provider’s stock valued at $181,000 after purchasing an additional 8,012 shares during the last quarter. Institutional investors and hedge funds own 85.58% of the company’s stock.

ProAssurance Trading Up 2.2 %

Shares of NYSE:PRA opened at $14.54 on Tuesday. The company has a 50-day simple moving average of $16.25 and a 200 day simple moving average of $14.38. The company has a market capitalization of $743.81 million, a P/E ratio of 17.52 and a beta of 0.29. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.28 and a current ratio of 0.28. ProAssurance Co. has a 52-week low of $10.76 and a 52-week high of $17.79.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on PRA. StockNews.com raised ProAssurance from a “hold” rating to a “buy” rating in a research note on Thursday, December 26th. Piper Sandler cut 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, Truist Financial increased their target price on ProAssurance from $14.00 to $18.00 and gave the stock a “hold” rating in a research note on Tuesday, November 12th.

ProAssurance 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.