The Progressive Co. (NYSE:PGR) Shares Sold by Ghe LLC

Ghe LLC trimmed its position in shares of The Progressive Co. (NYSE:PGR) by 0.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,388 shares of the insurance provider’s stock after selling 136 shares during the quarter. Progressive makes up about 3.0% of Ghe LLC’s investment portfolio, making the stock its 4th largest holding. Ghe LLC’s holdings in Progressive were worth $7,238,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Davis Capital Management acquired a new stake in Progressive in the 3rd quarter worth approximately $25,000. WR Wealth Planners LLC lifted its holdings in Progressive by 119.6% in the 2nd quarter. WR Wealth Planners LLC now owns 123 shares of the insurance provider’s stock worth $26,000 after purchasing an additional 67 shares during the last quarter. Hilltop National Bank lifted its holdings in Progressive by 126.0% in the 2nd quarter. Hilltop National Bank now owns 165 shares of the insurance provider’s stock worth $34,000 after purchasing an additional 92 shares during the last quarter. DiNuzzo Private Wealth Inc. lifted its holdings in Progressive by 114.1% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 137 shares of the insurance provider’s stock worth $35,000 after purchasing an additional 73 shares during the last quarter. Finally, LRI Investments LLC acquired a new stake in Progressive in the 1st quarter worth approximately $36,000. 85.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on PGR shares. Barclays boosted their target price on Progressive from $267.00 to $277.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 23rd. TD Cowen lifted their price target on Progressive from $197.00 to $237.00 and gave the stock a “hold” rating in a research report on Friday, November 8th. JPMorgan Chase & Co. lifted their price target on Progressive from $242.00 to $251.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Bank of America lifted their price target on Progressive from $319.00 to $331.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Finally, Piper Sandler boosted their price objective on Progressive from $250.00 to $252.00 and gave the company an “overweight” rating in a research report on Thursday, August 15th. Seven investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $269.56.

Insiders Place Their Bets

In other Progressive news, insider Steven Broz sold 6,122 shares of the business’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $235.19, for a total value of $1,439,833.18. Following the transaction, the insider now owns 32,316 shares of the company’s stock, valued at approximately $7,600,400.04. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Progressive news, insider Steven Broz sold 6,122 shares of the business’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $235.19, for a total value of $1,439,833.18. Following the transaction, the insider now owns 32,316 shares of the company’s stock, valued at approximately $7,600,400.04. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Patrick K. Callahan sold 7,696 shares of the company’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $255.21, for a total value of $1,964,096.16. Following the transaction, the insider now directly owns 15,189 shares in the company, valued at $3,876,384.69. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 74,843 shares of company stock valued at $18,674,912. 0.34% of the stock is currently owned by corporate insiders.

Progressive Stock Performance

Shares of NYSE:PGR opened at $262.17 on Wednesday. The business’s fifty day moving average price is $251.77 and its two-hundred day moving average price is $229.06. The Progressive Co. has a fifty-two week low of $149.14 and a fifty-two week high of $263.85. The stock has a market capitalization of $153.58 billion, a price-to-earnings ratio of 19.06, a price-to-earnings-growth ratio of 0.72 and a beta of 0.36. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.30 and a quick ratio of 0.30.

Progressive (NYSE:PGR) last posted its quarterly earnings data on Tuesday, October 15th. The insurance provider reported $3.58 EPS for the quarter, topping analysts’ consensus estimates of $3.40 by $0.18. The company had revenue of $19.43 billion for the quarter, compared to analyst estimates of $18.95 billion. Progressive had a return on equity of 33.10% and a net margin of 11.27%. As a group, analysts predict that The Progressive Co. will post 13.15 EPS for the current fiscal year.

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.