Point72 Asia Singapore Pte. Ltd. Raises Stake in ProAssurance Co. (NYSE:PRA)

Point72 Asia Singapore Pte. Ltd. boosted its holdings in ProAssurance Co. (NYSE:PRA) by 94.3% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,347 shares of the insurance provider’s stock after purchasing an additional 4,052 shares during the quarter. Point72 Asia Singapore Pte. Ltd.’s holdings in ProAssurance were worth $126,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Point72 Hong Kong Ltd purchased a new position in shares of ProAssurance in the 2nd quarter worth about $28,000. nVerses Capital LLC purchased a new position in ProAssurance in the third quarter worth about $44,000. Innealta Capital LLC bought a new position in shares of ProAssurance in the second quarter worth approximately $69,000. FMR LLC grew its holdings in shares of ProAssurance by 197.8% during the third quarter. FMR LLC now owns 12,063 shares of the insurance provider’s stock valued at $181,000 after buying an additional 8,012 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new stake in shares of ProAssurance during the second quarter valued at approximately $166,000. Institutional investors own 85.58% of the company’s stock.

ProAssurance Price Performance

Shares of PRA opened at $17.23 on Friday. The firm has a fifty day simple moving average of $15.77 and a two-hundred day simple moving average of $13.93. The firm has a market cap of $881.49 million, a PE ratio of 20.76 and a beta of 0.28. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.35. ProAssurance Co. has a 1-year low of $10.76 and a 1-year high of $17.79.

Analyst Ratings Changes

Several equities analysts recently issued reports on PRA shares. StockNews.com cut ProAssurance from a “buy” rating to a “hold” rating in a research report on Tuesday, November 19th. Truist Financial upped their price target on ProAssurance from $14.00 to $18.00 and gave the company a “hold” rating in a report on Tuesday, November 12th. Finally, Piper Sandler lowered ProAssurance from an “overweight” rating to a “neutral” rating and set a $18.00 target price for the company. in a research report on Monday, November 11th. Three analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $18.67.

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.