The Progressive Co. (NYSE:PGR) Shares Acquired by Avior Wealth Management LLC

Avior Wealth Management LLC increased its stake in The Progressive Co. (NYSE:PGR) by 3.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,221 shares of the insurance provider’s stock after purchasing an additional 96 shares during the quarter. Avior Wealth Management LLC’s holdings in Progressive were worth $817,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Diversified Trust Co lifted its holdings in Progressive by 84.3% in the third quarter. Diversified Trust Co now owns 25,738 shares of the insurance provider’s stock worth $6,531,000 after purchasing an additional 11,770 shares during the period. Sycomore Asset Management raised its position in Progressive by 9.5% in the second quarter. Sycomore Asset Management now owns 28,128 shares of the insurance provider’s stock worth $5,856,000 after acquiring an additional 2,450 shares in the last quarter. Sumitomo Life Insurance Co. bought a new stake in Progressive in the second quarter worth about $981,000. Tidal Investments LLC raised its position in Progressive by 22.2% in the first quarter. Tidal Investments LLC now owns 31,330 shares of the insurance provider’s stock worth $6,480,000 after acquiring an additional 5,691 shares in the last quarter. Finally, Advisors Asset Management Inc. raised its position in Progressive by 88.7% in the first quarter. Advisors Asset Management Inc. now owns 7,626 shares of the insurance provider’s stock worth $1,577,000 after acquiring an additional 3,585 shares in the last quarter. Institutional investors and hedge funds own 85.34% of the company’s stock.

Insider Buying and Selling

In related news, insider Patrick K. Callahan sold 7,696 shares of the stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $255.21, for a total value of $1,964,096.16. Following the transaction, the insider now owns 15,189 shares in the company, valued at approximately $3,876,384.69. This represents a 33.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing 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 stock was 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 owns 29,334 shares in the company, valued at $7,626,840. This represents a 9.23 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 59,209 shares of company stock worth $14,975,979. Insiders own 0.34% of the company’s stock.

Progressive Price Performance

NYSE PGR opened at $256.99 on Thursday. The company has a 50 day simple moving average of $252.58 and a 200-day simple moving average of $230.94. 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 firm has a market capitalization of $150.54 billion, a price-to-earnings ratio of 18.68, a price-to-earnings-growth ratio of 0.71 and a beta of 0.36. The Progressive Co. has a 52-week low of $149.14 and a 52-week high of $263.85.

Progressive (NYSE:PGR) last posted its quarterly earnings results on Tuesday, October 15th. The insurance provider reported $3.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.40 by $0.18. The business had revenue of $19.43 billion during the quarter, compared to analyst estimates of $18.95 billion. Progressive had a net margin of 11.27% and a return on equity of 33.10%. Equities research analysts predict that The Progressive Co. will post 13.09 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on PGR. HSBC upgraded shares of Progressive from a “hold” rating to a “buy” rating and set a $253.00 price target on the stock in a research report on Monday, August 12th. StockNews.com upgraded shares of Progressive from a “hold” rating to a “buy” rating in a research report on Tuesday. Bank of America boosted their price target on shares of Progressive from $331.00 to $335.00 and gave the stock a “buy” rating in a research report on Monday. Hsbc Global Res upgraded shares of Progressive from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 12th. Finally, Roth Mkm boosted their price objective on Progressive from $270.00 to $290.00 and gave the stock a “buy” rating in a report on Monday, September 16th. Five equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Progressive currently has a consensus rating of “Moderate Buy” and a consensus price target of $269.81.

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.