Avestar Capital LLC Has $779,000 Stock Holdings in The Progressive Co. (NYSE:PGR)

Avestar Capital LLC raised its holdings in The Progressive Co. (NYSE:PGR) by 7.4% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 3,070 shares of the insurance provider’s stock after acquiring an additional 211 shares during the quarter. Avestar Capital LLC’s holdings in Progressive were worth $779,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. Lazard Asset Management LLC lifted its holdings in Progressive by 138.1% during the 1st quarter. Lazard Asset Management LLC now owns 10,021 shares of the insurance provider’s stock worth $2,071,000 after buying an additional 5,813 shares during the period. B. Riley Wealth Advisors Inc. lifted its stake in shares of Progressive by 7.2% in the first quarter. B. Riley Wealth Advisors Inc. now owns 7,972 shares of the insurance provider’s stock worth $1,649,000 after acquiring an additional 537 shares during the period. Tidal Investments LLC boosted its holdings in Progressive by 22.2% in the first quarter. Tidal Investments LLC now owns 31,330 shares of the insurance provider’s stock valued at $6,480,000 after acquiring an additional 5,691 shares during the last quarter. Comerica Bank increased its position in Progressive by 0.4% during the 1st quarter. Comerica Bank now owns 150,262 shares of the insurance provider’s stock valued at $31,077,000 after purchasing an additional 533 shares during the period. Finally, New Covenant Trust Company N.A. bought a new position in Progressive during the 1st quarter worth approximately $41,000. Institutional investors own 85.34% of the company’s stock.

Insider Activity at Progressive

In other Progressive news, CEO Susan Patricia Griffith sold 43,370 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $252.20, for a total value of $10,937,914.00. Following the completion of the sale, the chief executive officer now owns 473,735 shares in the company, valued at approximately $119,475,967. This trade represents a 8.39 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Steven Broz sold 2,982 shares of Progressive stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $260.00, for a total transaction of $775,320.00. Following the transaction, the insider now directly owns 29,334 shares in the company, valued at approximately $7,626,840. This represents a 9.23 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 59,209 shares of company stock valued at $14,975,979. 0.34% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PGR. Roth Mkm increased their price objective on shares of Progressive from $270.00 to $290.00 and gave the stock a “buy” rating in a research report on Monday, September 16th. Keefe, Bruyette & Woods increased their price target on Progressive from $280.00 to $290.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Barclays boosted their price objective on Progressive from $267.00 to $277.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 23rd. BMO Capital Markets decreased their target price on Progressive from $239.00 to $237.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Finally, Piper Sandler boosted their price target on Progressive from $250.00 to $252.00 and gave the company an “overweight” rating in a research note on Thursday, August 15th. Five analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $269.81.

Progressive Trading Up 0.8 %

NYSE:PGR opened at $268.00 on Wednesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.30 and a quick ratio of 0.30. The Progressive Co. has a one year low of $149.14 and a one year high of $268.16. The company has a market cap of $157.00 billion, a PE ratio of 19.48, a PEG ratio of 0.74 and a beta of 0.36. The firm has a 50-day moving average of $253.47 and a 200-day moving average of $232.47.

Progressive (NYSE:PGR) last issued 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. Progressive had a return on equity of 33.10% and a net margin of 11.27%. The firm had revenue of $19.43 billion during the quarter, compared to analyst estimates of $18.95 billion. As a group, equities research analysts expect that The Progressive Co. will post 13.2 EPS for the current fiscal year.

Progressive Profile

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.