ProAssurance Co. (NYSE:PRA) Shares Acquired by JPMorgan Chase & Co.

JPMorgan Chase & Co. raised its holdings in shares of ProAssurance Co. (NYSE:PRA) by 34.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 253,175 shares of the insurance provider’s stock after buying an additional 65,325 shares during the period. JPMorgan Chase & Co. owned about 0.49% of ProAssurance worth $3,808,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Point72 Hong Kong Ltd purchased a new position in ProAssurance during the 2nd quarter valued at about $28,000. nVerses Capital LLC bought a new position in shares of ProAssurance during the 3rd quarter valued at $44,000. Point72 Asia Singapore Pte. Ltd. raised its holdings in shares of ProAssurance by 94.3% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 8,347 shares of the insurance provider’s stock valued at $126,000 after purchasing an additional 4,052 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in shares of ProAssurance in the second quarter worth about $166,000. Finally, FMR LLC boosted its position in ProAssurance by 197.8% during the third quarter. FMR LLC now owns 12,063 shares of the insurance provider’s stock worth $181,000 after purchasing an additional 8,012 shares during the period. 85.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently weighed in on PRA shares. Piper Sandler downgraded ProAssurance from an “overweight” rating to a “neutral” rating and set a $18.00 target price for the company. in a research note on Monday, November 11th. Truist Financial increased their price target on shares of ProAssurance from $14.00 to $18.00 and gave the stock a “hold” rating in a research report on Tuesday, November 12th. Finally, StockNews.com raised ProAssurance from a “hold” rating to a “buy” rating in a report on Thursday, December 26th.

ProAssurance Stock Up 0.3 %

ProAssurance stock opened at $15.29 on Friday. The stock has a market capitalization of $782.24 million, a PE ratio of 18.42 and a beta of 0.29. The company has a 50 day moving average of $16.17 and a 200-day moving average of $14.45. ProAssurance Co. has a twelve month low of $10.76 and a twelve 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.

About ProAssurance

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.