ProAssurance Co. (NYSE:PRA) Shares Purchased by New York State Teachers Retirement System

New York State Teachers Retirement System increased its position in shares of ProAssurance Co. (NYSE:PRA) by 2.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 89,326 shares of the insurance provider’s stock after acquiring an additional 1,937 shares during the period. New York State Teachers Retirement System’s holdings in ProAssurance were worth $1,421,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of PRA. Wellington Management Group LLP increased its stake in ProAssurance by 3.0% in the 3rd quarter. Wellington Management Group LLP now owns 3,164,085 shares of the insurance provider’s stock worth $47,588,000 after purchasing an additional 91,987 shares in the last quarter. State Street Corp increased its stake in ProAssurance by 1.8% in 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 stake in ProAssurance by 0.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,316,249 shares of the insurance provider’s stock worth $20,678,000 after purchasing an additional 4,814 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its stake in ProAssurance by 0.3% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 587,901 shares of the insurance provider’s stock worth $8,842,000 after purchasing an additional 1,738 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in ProAssurance by 91.4% in the 3rd 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 in the last quarter. 85.58% of the stock is owned by institutional investors and hedge funds.

ProAssurance Stock Down 2.9 %

PRA opened at $13.99 on Monday. The business has a 50 day moving average price of $15.19 and a 200 day moving average price of $15.01. ProAssurance Co. has a twelve month low of $10.76 and a twelve month high of $17.79. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.28 and a current ratio of 0.28. The firm has a market cap of $715.42 million, a P/E ratio of 16.85 and a beta of 0.27.

Wall Street Analyst Weigh In

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

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.