The Progressive Co. (NYSE:PGR) Shares Sold by Central Bank & Trust Co.

Central Bank & Trust Co. lessened its holdings in The Progressive Co. (NYSE:PGR) by 2.8% during the third quarter, HoldingsChannel.com reports. The fund owned 30,587 shares of the insurance provider’s stock after selling 886 shares during the quarter. Central Bank & Trust Co.’s holdings in Progressive were worth $7,762,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in PGR. Davis Capital Management acquired a new position in shares of Progressive during the third quarter worth $25,000. WR Wealth Planners LLC grew its stake in shares of Progressive by 119.6% during the second quarter. WR Wealth Planners LLC now owns 123 shares of the insurance provider’s stock valued at $26,000 after acquiring an additional 67 shares in the last quarter. Hilltop National Bank increased its position in shares of Progressive by 126.0% during the second quarter. Hilltop National Bank now owns 165 shares of the insurance provider’s stock worth $34,000 after acquiring an additional 92 shares during the last quarter. DiNuzzo Private Wealth Inc. lifted its stake in shares of Progressive by 114.1% in the third quarter. DiNuzzo Private Wealth Inc. now owns 137 shares of the insurance provider’s stock worth $35,000 after acquiring an additional 73 shares in the last quarter. Finally, LRI Investments LLC acquired a new stake in Progressive during the 1st quarter valued at approximately $36,000. Institutional investors and hedge funds own 85.34% of the company’s stock.

Insider Buying and Selling at Progressive

In other news, insider Steven Broz sold 2,982 shares of the stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $260.00, for a total value of $775,320.00. Following the completion of the transaction, the insider now directly owns 29,334 shares in the company, valued at $7,626,840. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider John Jo Murphy sold 9,512 shares of Progressive stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $237.50, for a total value of $2,259,100.00. Following the transaction, the insider now owns 45,787 shares of the company’s stock, valued at $10,874,412.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Steven Broz sold 2,982 shares of the stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $260.00, for a total transaction of $775,320.00. Following the sale, the insider now directly owns 29,334 shares of the company’s stock, valued at approximately $7,626,840. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 74,843 shares of company stock valued at $18,674,912. Company insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on PGR shares. Wells Fargo & Company raised their price target on shares of Progressive from $281.00 to $282.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 10th. BMO Capital Markets cut their target price on shares of Progressive from $239.00 to $237.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. HSBC upgraded Progressive from a “hold” rating to a “buy” rating and set a $253.00 price target for the company in a research note on Monday, August 12th. Morgan Stanley upped their price objective on Progressive from $300.00 to $310.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. Finally, Roth Mkm lifted their target price on Progressive from $270.00 to $290.00 and gave the stock a “buy” rating in a research report on Monday, September 16th. Seven equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $263.19.

Progressive Price Performance

Shares of PGR opened at $241.48 on Tuesday. The firm has a market capitalization of $141.43 billion, a price-to-earnings ratio of 17.55, a price-to-earnings-growth ratio of 0.67 and a beta of 0.36. The stock’s fifty day moving average is $250.86 and its 200-day moving average is $227.13. The Progressive Co. has a one year low of $149.14 and a one year high of $260.46. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.31 and a current ratio of 0.31.

About Progressive

The Progressive Corporation, an insurance holding company, provides personal and commercial auto, personal residential and commercial property, business related general liability, and other specialty property-casualty insurance products and related services in the United States. It operates in three segments: Personal Lines, Commercial Lines, and Property.