ProAssurance (NYSE:PRA) Price Target Raised to $18.00

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

Several other equities research analysts also recently commented on PRA. JMP Securities cut their target price 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. Piper Sandler downgraded ProAssurance from an “overweight” rating to a “neutral” rating and set a $18.00 price objective for the company. in a report on Monday. Finally, StockNews.com raised ProAssurance from a “hold” rating to a “buy” rating in a report on Monday. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $18.67.

ProAssurance Stock Performance

NYSE PRA opened at $17.12 on Tuesday. 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 has a fifty-two week low of $10.76 and a fifty-two week high of $17.79. The stock has a market cap of $875.86 million, a PE ratio of 20.63 and a beta of 0.24. The firm’s fifty day moving average price is $14.60 and its two-hundred day moving average price is $13.61.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Point72 Hong Kong Ltd acquired a new position in ProAssurance during the 2nd quarter valued at about $28,000. nVerses Capital LLC purchased a new stake in shares of ProAssurance in the third quarter valued at about $44,000. Innealta Capital LLC bought a new position in shares of ProAssurance during the second quarter valued at about $69,000. ProShare Advisors LLC purchased a new position in ProAssurance during the first quarter worth about $132,000. Finally, Susquehanna Fundamental Investments LLC bought a new stake in ProAssurance in the 2nd quarter worth about $166,000. 85.58% of the stock is currently owned by institutional investors and hedge funds.

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.