Captrust Financial Advisors Has $7.80 Million Stake in The Progressive Co. (NYSE:PGR)

Captrust Financial Advisors raised its position in The Progressive Co. (NYSE:PGR) by 2.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,748 shares of the insurance provider’s stock after buying an additional 806 shares during the quarter. Captrust Financial Advisors’ holdings in Progressive were worth $7,803,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Davis Capital Management bought a new stake in shares of Progressive in the third quarter valued at approximately $25,000. WR Wealth Planners LLC lifted its position 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 valued at $26,000 after acquiring an additional 67 shares during the period. DiNuzzo Private Wealth Inc. grew its holdings 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 in the last quarter. Hilltop National Bank increased its position in shares of Progressive by 126.0% in the second 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 period. Finally, Kimelman & Baird LLC acquired a new position in Progressive in the second quarter valued at about $36,000. Institutional investors own 85.34% of the company’s stock.

Progressive Trading Down 1.8 %

NYSE:PGR opened at $263.97 on Tuesday. The Progressive Co. has a 52 week low of $149.14 and a 52 week high of $270.62. The firm’s fifty day moving average is $254.08 and its 200-day moving average is $233.65. The firm has a market cap of $154.64 billion, a P/E ratio of 19.19, a P/E/G ratio of 0.74 and a beta of 0.36. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.30 and a current ratio of 0.30.

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, topping the consensus estimate of $3.40 by $0.18. The firm had revenue of $19.43 billion during 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%. Equities analysts expect that The Progressive Co. will post 13.2 earnings per share for the current year.

Insider Activity

In related news, 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 value of $549,970.40. Following the completion of the sale, the director now owns 13,723 shares of the company’s stock, valued at approximately $3,462,038.44. This trade represents a 13.71 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Patrick K. Callahan sold 7,696 shares of the company’s stock in a transaction 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 transaction, the insider now owns 15,189 shares in the company, valued at approximately $3,876,384.69. The trade was a 33.63 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 15,839 shares of company stock worth $4,038,065 in the last quarter. 0.34% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts recently issued reports on PGR shares. The Goldman Sachs Group increased their price target on shares of Progressive from $262.00 to $280.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Barclays upped their price objective on Progressive from $267.00 to $277.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 23rd. Jefferies Financial Group lifted their target price on Progressive from $257.00 to $295.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Evercore ISI increased their target price on shares of Progressive from $277.00 to $285.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. Finally, BMO Capital Markets decreased their price target on shares of Progressive from $239.00 to $237.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. Five investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Progressive has an average rating of “Moderate Buy” and an average target price of $269.81.

Progressive Company 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.