ProAssurance (NYSE:PRA) Stock Price Passes Above Two Hundred Day Moving Average – Here’s Why

ProAssurance Co. (NYSE:PRA)’s share price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $14.76 and traded as high as $14.90. ProAssurance shares last traded at $14.80, with a volume of 108,952 shares changing hands.

Wall Street Analysts Forecast Growth

PRA has been the subject of several recent research reports. Piper Sandler cut ProAssurance from an “overweight” rating to a “neutral” rating and set a $18.00 price objective for the company. in a report on Monday, November 11th. Truist Financial increased their target price on ProAssurance from $14.00 to $18.00 and gave the stock a “hold” rating in a report on Tuesday, November 12th. Finally, StockNews.com upgraded shares of ProAssurance from a “hold” rating to a “buy” rating in a research note on Thursday, December 26th.

ProAssurance Trading Up 0.5 %

The company has a market cap of $757.17 million, a price-to-earnings ratio of 17.83 and a beta of 0.27. The business’s 50 day moving average price is $15.75 and its 200-day moving average price is $14.76. 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 (NYSE:PRA) last issued its quarterly earnings results on Thursday, November 7th. The insurance provider reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.22. The business had revenue of $285.25 million during the quarter, compared to analysts’ expectations of $270.75 million. ProAssurance had a return on equity of 2.65% and a net margin of 3.71%. During the same period in the previous year, the company posted ($0.07) earnings per share. On average, equities analysts anticipate that ProAssurance Co. will post 0.8 EPS for the current fiscal year.

Institutional Trading of ProAssurance

Institutional investors and hedge funds have recently modified their holdings of the business. nVerses Capital LLC acquired a new stake in ProAssurance in the third quarter valued at $44,000. KBC Group NV raised its holdings in shares of ProAssurance by 75.4% in the 4th quarter. KBC Group NV now owns 4,184 shares of the insurance provider’s stock worth $67,000 after acquiring an additional 1,798 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. lifted its stake in ProAssurance by 94.3% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 8,347 shares of the insurance provider’s stock valued at $126,000 after acquiring an additional 4,052 shares in the last quarter. FMR LLC boosted its holdings in ProAssurance by 197.8% during the third quarter. FMR LLC now owns 12,063 shares of the insurance provider’s stock worth $181,000 after purchasing an additional 8,012 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in shares of ProAssurance in the third quarter valued at approximately $250,000. 85.58% of the stock is currently 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.