Truist Financial Increases ProAssurance (NYSE:PRA) Price Target to $18.00

ProAssurance (NYSE:PRA) had its price objective boosted by research analysts at Truist Financial from $14.00 to $18.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has a “hold” rating on the insurance provider’s stock. Truist Financial’s target price points to a potential upside of 4.96% from the company’s current price.

A number of other research analysts also recently commented on PRA. StockNews.com upgraded ProAssurance from a “hold” rating to a “buy” rating in a report on Monday. JMP Securities decreased their price objective on ProAssurance from $22.00 to $20.00 and set a “market outperform” rating for the company in a research report on Wednesday, July 17th. Finally, Piper Sandler cut ProAssurance from an “overweight” rating to a “neutral” rating and set a $18.00 price target for the company. in a report on Monday. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $18.67.

ProAssurance Price Performance

Shares of ProAssurance stock traded down $0.16 on Tuesday, reaching $17.15. The company’s stock had a trading volume of 135,798 shares, compared to its average volume of 282,472. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.38. The stock has a 50-day moving average price of $14.60 and a 200-day moving average price of $13.61. The company has a market capitalization of $877.33 million, a P/E ratio of 20.66 and a beta of 0.24. ProAssurance has a 52-week low of $10.76 and a 52-week high of $17.79.

Institutional Trading of ProAssurance

Institutional investors have recently added to or reduced their stakes in the business. Point72 Hong Kong Ltd bought a new position in shares of ProAssurance during the 2nd quarter worth approximately $28,000. nVerses Capital LLC purchased a new stake in ProAssurance in the 3rd quarter valued at $44,000. Innealta Capital LLC bought a new position in shares of ProAssurance during the 2nd quarter worth $69,000. ProShare Advisors LLC bought a new position in ProAssurance in the 1st quarter worth about $132,000. Finally, Susquehanna Fundamental Investments LLC purchased a new position in shares of ProAssurance during the 2nd quarter valued at about $166,000. 85.58% of the stock is currently owned by institutional investors and hedge funds.

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.