BNP Paribas Financial Markets Raises Position in ProAssurance Co. (NYSE:PRA)

BNP Paribas Financial Markets grew its stake in ProAssurance Co. (NYSE:PRA) by 30.0% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,978 shares of the insurance provider’s stock after purchasing an additional 4,149 shares during the quarter. BNP Paribas Financial Markets’ holdings in ProAssurance were worth $270,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Point72 Hong Kong Ltd purchased a new stake in ProAssurance in the 2nd quarter valued at about $28,000. nVerses Capital LLC purchased a new position in shares of ProAssurance in the 3rd quarter worth approximately $44,000. Innealta Capital LLC bought a new position in shares of ProAssurance in the second quarter valued at approximately $69,000. FMR LLC increased its position 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 acquiring an additional 8,012 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new stake in ProAssurance during the second quarter worth $166,000. Hedge funds and other institutional investors own 85.58% of the company’s stock.

ProAssurance Price Performance

PRA opened at $16.65 on Monday. The firm has a 50-day moving average price of $15.99 and a 200-day moving average price of $14.01. ProAssurance Co. has a twelve month low of $10.76 and a twelve month 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 company has a market capitalization of $851.75 million, a price-to-earnings ratio of 20.06 and a beta of 0.28.

Analyst Ratings Changes

PRA has been the subject of a number of recent analyst reports. Truist Financial upped their price objective on ProAssurance from $14.00 to $18.00 and gave the company a “hold” rating in a research note on Tuesday, November 12th. Piper Sandler lowered shares of ProAssurance from an “overweight” rating to a “neutral” rating and set a $18.00 price target for the company. in a research report on Monday, November 11th. Finally, StockNews.com raised shares of ProAssurance from a “hold” rating to a “buy” rating in a research report on Tuesday, December 10th.

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.