Cetera Advisors LLC boosted its holdings in shares of The Progressive Co. (NYSE:PGR – Free Report) by 20.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 10,263 shares of the insurance provider’s stock after purchasing an additional 1,776 shares during the quarter. Cetera Advisors LLC’s holdings in Progressive were worth $1,359,000 at the end of the most recent quarter.
Other large investors have also added to or reduced their stakes in the company. Aspire Private Capital LLC bought a new stake in Progressive in the 1st quarter worth approximately $18,597,800,000. Creative Financial Designs Inc. ADV increased its stake in Progressive by 95.0% in the 2nd quarter. Creative Financial Designs Inc. ADV now owns 195 shares of the insurance provider’s stock worth $26,000 after acquiring an additional 95 shares during the last quarter. Sunbelt Securities Inc. bought a new stake in Progressive in the 1st quarter worth approximately $31,000. Exos TFP Holdings LLC increased its stake in Progressive by 270.0% in the 1st quarter. Exos TFP Holdings LLC now owns 222 shares of the insurance provider’s stock worth $32,000 after acquiring an additional 162 shares during the last quarter. Finally, Fiduciary Alliance LLC bought a new stake in Progressive in the 2nd quarter worth approximately $32,000. Institutional investors own 83.66% of the company’s stock.
Analyst Ratings Changes
A number of research firms have issued reports on PGR. StockNews.com raised Progressive from a “hold” rating to a “buy” rating in a research note on Monday, October 16th. Wells Fargo & Company lifted their target price on Progressive from $128.00 to $144.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 17th. Oppenheimer initiated coverage on Progressive in a report on Thursday, November 16th. They issued a “market perform” rating for the company. Morgan Stanley lifted their target price on Progressive from $160.00 to $164.00 and gave the stock an “equal weight” rating in a report on Monday. Finally, Jefferies Financial Group lifted their target price on Progressive from $163.00 to $167.00 in a report on Friday, October 6th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $161.47.
Progressive Trading Up 1.1 %
Shares of NYSE PGR opened at $159.35 on Tuesday. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.41. The business has a fifty day simple moving average of $150.11 and a two-hundred day simple moving average of $137.14. The firm has a market cap of $93.23 billion, a PE ratio of 34.57, a price-to-earnings-growth ratio of 1.16 and a beta of 0.43. The Progressive Co. has a twelve month low of $111.41 and a twelve month high of $161.98.
Progressive (NYSE:PGR – Get Free Report) last issued its earnings results on Friday, October 13th. The insurance provider reported $2.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.71 by $0.38. The business had revenue of $15.71 billion during the quarter, compared to analyst estimates of $15.66 billion. Progressive had a return on equity of 17.36% and a net margin of 4.67%. Analysts expect that The Progressive Co. will post 5.33 earnings per share for the current fiscal year.
Insider Buying and Selling at Progressive
In other Progressive news, CFO John P. Sauerland sold 12,000 shares of Progressive stock in a transaction on Thursday, August 24th. The stock was sold at an average price of $130.46, for a total transaction of $1,565,520.00. Following the completion of the sale, the chief financial officer now directly owns 297,507 shares of the company’s stock, valued at approximately $38,812,763.22. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider Daniel P. Mascaro sold 1,570 shares of the business’s stock in a transaction on Monday, September 18th. The stock was sold at an average price of $140.39, for a total value of $220,412.30. Following the completion of the transaction, the insider now directly owns 31,706 shares of the company’s stock, valued at approximately $4,451,205.34. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO John P. Sauerland sold 12,000 shares of the business’s stock in a transaction on Thursday, August 24th. The stock was sold at an average price of $130.46, for a total value of $1,565,520.00. Following the completion of the transaction, the chief financial officer now directly owns 297,507 shares of the company’s stock, valued at $38,812,763.22. The disclosure for this sale can be found here. Insiders sold a total of 69,021 shares of company stock valued at $9,594,007 in the last ninety days. Corporate insiders own 0.34% of the company’s stock.
The Progressive Corporation, an insurance holding company, provides personal and commercial auto, personal residential and commercial property, 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.
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