The Progressive Co. (NYSE:PGR) Shares Purchased by Larson Financial Group LLC

Larson Financial Group LLC raised its position in The Progressive Co. (NYSE:PGR) by 541.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 218 shares of the insurance provider’s stock after purchasing an additional 184 shares during the quarter. Larson Financial Group LLC’s holdings in Progressive were worth $55,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Davis Capital Management acquired a new position in Progressive in the third quarter valued at approximately $25,000. WR Wealth Planners LLC grew its holdings in shares of Progressive by 119.6% during 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 period. DiNuzzo Private Wealth Inc. increased its position in shares of Progressive by 114.1% during 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. Hilltop National Bank raised its holdings in Progressive by 126.0% in the 2nd quarter. Hilltop National Bank now owns 165 shares of the insurance provider’s stock valued at $34,000 after buying an additional 92 shares during the period. Finally, LRI Investments LLC acquired a new position in Progressive in the first quarter valued at about $36,000. Hedge funds and other institutional investors own 85.34% of the company’s stock.

Insider Buying and Selling

In other news, insider Patrick K. Callahan sold 7,696 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $255.21, for a total transaction of $1,964,096.16. Following the completion of the sale, the insider now owns 15,189 shares in the company, valued at $3,876,384.69. This represents a 33.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Dyke Kahina Van sold 2,180 shares of Progressive stock in a transaction on Friday, September 27th. The shares were sold at an average price of $252.28, for a total transaction of $549,970.40. Following the completion of the transaction, the director now owns 13,723 shares in the company, valued at approximately $3,462,038.44. This trade represents a 13.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 59,209 shares of company stock worth $14,975,979 in the last 90 days. Company insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on PGR shares. HSBC raised shares of Progressive from a “hold” rating to a “buy” rating and set a $253.00 price target on the stock in a research note on Monday, August 12th. TD Cowen upped their price target on Progressive from $197.00 to $237.00 and gave the stock a “hold” rating in a research note on Friday, November 8th. Hsbc Global Res raised Progressive from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 12th. Jefferies Financial Group increased their target price on Progressive from $257.00 to $295.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Finally, Morgan Stanley lifted their target price on Progressive from $300.00 to $310.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. Five research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $269.81.

Progressive Trading Up 0.8 %

NYSE PGR opened at $268.93 on Friday. The firm’s fifty day moving average price is $254.08 and its 200 day moving average price is $233.34. The Progressive Co. has a 12 month low of $149.14 and a 12 month high of $270.62. 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 company has a market capitalization of $157.54 billion, a price-to-earnings ratio of 19.54, a price-to-earnings-growth ratio of 0.74 and a beta of 0.36.

Progressive (NYSE:PGR) last posted its quarterly earnings data on Tuesday, October 15th. The insurance provider reported $3.58 earnings per share for the quarter, beating the consensus estimate of $3.40 by $0.18. The business had revenue of $19.43 billion during the quarter, compared to the consensus estimate of $18.95 billion. Progressive had a return on equity of 33.10% and a net margin of 11.27%. On average, sell-side analysts expect that The Progressive Co. will post 13.2 earnings per share 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.