ProAssurance (PRA) Earns “Hold” Rating from Keefe, Bruyette & Woods
Keefe, Bruyette & Woods reiterated their hold rating on shares of ProAssurance (NYSE:PRA) in a report released on Tuesday. Keefe, Bruyette & Woods currently has a $55.00 price target on the insurance provider’s stock.
A number of other brokerages have also recently issued reports on PRA. Zacks Investment Research upgraded shares of ProAssurance from a hold rating to a buy rating and set a $68.00 price objective for the company in a report on Wednesday, December 13th. Boenning Scattergood reiterated a hold rating on shares of ProAssurance in a report on Tuesday, November 7th. Two analysts have rated the stock with a sell rating and four have given a hold rating to the company. The stock presently has an average rating of Hold and an average price target of $57.33.
Shares of ProAssurance (NYSE:PRA) opened at $47.40 on Tuesday. The firm has a market capitalization of $2,530.00, a PE ratio of 22.36 and a beta of 0.58. ProAssurance has a 12-month low of $46.90 and a 12-month high of $63.45. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.46 and a current ratio of 0.46.
In other ProAssurance news, CEO William Stancil Starnes sold 25,896 shares of the company’s stock in a transaction dated Friday, January 12th. The shares were sold at an average price of $55.01, for a total transaction of $1,424,538.96. Following the completion of the sale, the chief executive officer now directly owns 277,772 shares in the company, valued at $15,280,237.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 39,074 shares of company stock valued at $2,149,329 over the last 90 days. Corporate insiders own 1.80% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in PRA. Cubist Systematic Strategies LLC bought a new stake in ProAssurance during the second quarter valued at about $227,000. Public Employees Retirement System of Ohio boosted its holdings in ProAssurance by 1.0% during the second quarter. Public Employees Retirement System of Ohio now owns 27,744 shares of the insurance provider’s stock valued at $1,687,000 after acquiring an additional 268 shares during the period. First Trust Advisors LP boosted its holdings in ProAssurance by 165.0% during the third quarter. First Trust Advisors LP now owns 160,436 shares of the insurance provider’s stock valued at $8,768,000 after acquiring an additional 99,905 shares during the period. Crossmark Global Holdings Inc. bought a new stake in ProAssurance during the third quarter valued at about $652,000. Finally, Victory Capital Management Inc. boosted its holdings in ProAssurance by 34.2% during the third quarter. Victory Capital Management Inc. now owns 1,470,050 shares of the insurance provider’s stock valued at $80,338,000 after acquiring an additional 374,906 shares during the period. Institutional investors own 81.24% of the company’s stock.
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ProAssurance Company Profile
ProAssurance Corporation (ProAssurance) is a holding company for property and casualty insurance companies. The Company provides professional liability insurance for healthcare professionals and facilities, professional liability insurance for attorneys, liability insurance for medical technology and life sciences risks, and workers’ compensation insurance.
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