ProAssurance Target of Unusually Large Options Trading (NYSE:PRA)

ProAssurance Co. (NYSE:PRA) was the recipient of some unusual options trading activity on Thursday. Stock traders bought 2,330 put options on the stock. This is an increase of approximately 1,202% compared to the typical daily volume of 179 put options.

ProAssurance Trading Up 0.3 %

Shares of NYSE PRA traded up $0.04 during mid-day trading on Friday, hitting $15.29. 159,574 shares of the company traded hands, compared to its average volume of 201,456. The business has a 50 day moving average of $16.17 and a two-hundred day moving average of $14.43. The stock has a market capitalization of $782.24 million, a price-to-earnings ratio of 18.42 and a beta of 0.29. ProAssurance has a 1 year low of $10.76 and a 1 year 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.

Institutional Trading of ProAssurance

A number of hedge funds have recently bought and sold shares of the company. Wellington Management Group LLP boosted its position in shares of ProAssurance by 3.0% in 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 during the period. State Street Corp lifted 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 acquiring an additional 34,247 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in ProAssurance by 1.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,311,435 shares of the insurance provider’s stock worth $19,724,000 after acquiring an additional 18,718 shares during the period. Jacobs Levy Equity Management Inc. increased its holdings in shares of ProAssurance by 0.3% in the 3rd 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 during the period. Finally, Assenagon Asset Management S.A. lifted its position in shares of 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 in the last quarter. 85.58% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. StockNews.com upgraded shares of ProAssurance from a “hold” rating to a “buy” rating in a research note on Thursday, December 26th. Piper Sandler downgraded ProAssurance from an “overweight” rating to a “neutral” rating and set a $18.00 price objective on the stock. in a research note on Monday, November 11th. Finally, Truist Financial raised 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.

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.