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

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

Other research analysts have also issued reports about the stock. JMP Securities decreased their price target on shares of ProAssurance from $22.00 to $20.00 and set a “market outperform” rating for the company in a report on Wednesday, July 17th. StockNews.com upgraded ProAssurance from a “hold” rating to a “buy” rating in a research report on Monday. Finally, Piper Sandler lowered shares of 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. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $18.67.

ProAssurance Stock Down 2.1 %

NYSE PRA opened at $16.81 on Tuesday. ProAssurance has a fifty-two week low of $10.76 and a fifty-two week 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. The stock has a market cap of $860.00 million, a PE ratio of 20.25 and a beta of 0.24. The business has a 50 day moving average price of $14.74 and a two-hundred day moving average price of $13.66.

Hedge Funds Weigh In On ProAssurance

Hedge funds and other institutional investors have recently made changes to their positions in the business. Point72 Hong Kong Ltd acquired a new position in ProAssurance in the second quarter valued at about $28,000. nVerses Capital LLC acquired a new stake in shares of ProAssurance in the 3rd quarter valued at $44,000. Innealta Capital LLC bought a new stake in shares of ProAssurance during the second quarter worth approximately $69,000. Point72 Asia Singapore Pte. Ltd. lifted its stake in ProAssurance by 94.3% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 8,347 shares of the insurance provider’s stock valued at $126,000 after buying an additional 4,052 shares during the period. Finally, ProShare Advisors LLC bought a new stake in ProAssurance in the first quarter valued at approximately $132,000. 85.58% of the stock is owned by institutional investors.

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.