ProAssurance (NYSE:PRA) Given New $18.00 Price Target at Truist Financial

ProAssurance (NYSE:PRA) had its price objective upped by Truist Financial from $14.00 to $18.00 in a report published on Tuesday morning,Benzinga reports. They currently have a hold rating on the insurance provider’s stock.

PRA has been the subject of a number of other reports. Piper Sandler cut ProAssurance from an “overweight” rating to a “neutral” rating and set a $18.00 price objective for the company. in a report on Monday, November 11th. JMP Securities reduced their price target on shares of ProAssurance from $22.00 to $20.00 and set a “market outperform” rating on the stock in a research report on Wednesday, July 17th. Finally, StockNews.com upgraded shares of ProAssurance from a “hold” rating to a “buy” rating in a report on Monday, November 11th. Two analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, ProAssurance currently has a consensus rating of “Moderate Buy” and an average target price of $18.67.

ProAssurance Stock Performance

NYSE PRA opened at $16.88 on Tuesday. ProAssurance has a 52-week low of $10.76 and a 52-week high of $17.79. The company has a fifty day moving average of $14.81 and a 200-day moving average of $13.68. The company has a market capitalization of $863.51 million, a P/E ratio of 20.34 and a beta of 0.24. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.28 and a current ratio of 0.28.

Hedge Funds Weigh In On ProAssurance

A number of large investors have recently bought and sold shares of PRA. Commonwealth Equity Services LLC grew its holdings in shares of ProAssurance by 2.5% in the second quarter. Commonwealth Equity Services LLC now owns 32,346 shares of the insurance provider’s stock worth $395,000 after purchasing an additional 800 shares during the last quarter. Arizona State Retirement System grew its holdings in ProAssurance by 8.1% in the 2nd quarter. Arizona State Retirement System now owns 15,136 shares of the insurance provider’s stock worth $185,000 after acquiring an additional 1,128 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in shares of ProAssurance by 7.8% in the second quarter. The Manufacturers Life Insurance Company now owns 21,106 shares of the insurance provider’s stock valued at $258,000 after acquiring an additional 1,521 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of ProAssurance by 3.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 44,323 shares of the insurance provider’s stock valued at $570,000 after acquiring an additional 1,619 shares during the period. Finally, Jacobs Levy Equity Management Inc. raised its stake in shares of ProAssurance by 0.3% during the third quarter. Jacobs Levy Equity Management Inc. now owns 587,901 shares of the insurance provider’s stock valued at $8,842,000 after acquiring an additional 1,738 shares during the last quarter. 85.58% of the stock is owned by hedge funds and other institutional investors.

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.