ProAssurance (NYSE:PRA) Stock Price Crosses Above 200 Day Moving Average – Time to Sell?

ProAssurance Co. (NYSE:PRA) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $14.34 and traded as high as $15.03. ProAssurance shares last traded at $14.24, with a volume of 197,380 shares changing hands.

Analyst Ratings Changes

Several brokerages have commented on PRA. Truist Financial increased 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. StockNews.com upgraded shares of ProAssurance from a “hold” rating to a “buy” rating in a research note on Thursday, December 26th. 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 report on Monday, November 11th.

ProAssurance Price Performance

The firm has a market cap of $728.46 million, a P/E ratio of 17.16 and a beta of 0.29. The stock’s 50-day moving average is $16.25 and its 200-day moving average is $14.35. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.35.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Wellington Management Group LLP grew its position in ProAssurance by 3.0% during the third quarter. Wellington Management Group LLP now owns 3,164,085 shares of the insurance provider’s stock worth $47,588,000 after buying an additional 91,987 shares in the last quarter. State Street Corp grew its holdings in shares of ProAssurance by 1.8% during the 3rd quarter. State Street Corp now owns 1,968,754 shares of the insurance provider’s stock worth $29,610,000 after purchasing an additional 34,247 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of ProAssurance by 1.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,311,435 shares of the insurance provider’s stock valued at $19,724,000 after purchasing an additional 18,718 shares during the period. Jacobs Levy Equity Management Inc. raised its stake in shares of ProAssurance by 0.3% in 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 purchasing an additional 1,738 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in ProAssurance by 91.4% in the third quarter. Assenagon Asset Management S.A. now owns 485,501 shares of the insurance provider’s stock worth $7,302,000 after purchasing an additional 231,852 shares during the period. Institutional investors own 85.58% of the company’s stock.

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.