Ferguson Wellman Capital Management Inc. Has $3.77 Million Stock Holdings in The Progressive Co. (NYSE:PGR)

Ferguson Wellman Capital Management Inc. cut its position in shares of The Progressive Co. (NYSE:PGR) by 0.3% during the 3rd quarter, Holdings Channel reports. The firm owned 14,846 shares of the insurance provider’s stock after selling 40 shares during the quarter. Ferguson Wellman Capital Management Inc.’s holdings in Progressive were worth $3,767,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Davis Capital Management acquired a new position in shares of Progressive during the 3rd quarter worth about $25,000. WR Wealth Planners LLC grew its stake in Progressive by 119.6% in the 2nd quarter. WR Wealth Planners LLC now owns 123 shares of the insurance provider’s stock valued at $26,000 after buying an additional 67 shares during the last quarter. Hilltop National Bank grew its stake 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 last quarter. DiNuzzo Private Wealth Inc. grew its stake in Progressive by 114.1% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 137 shares of the insurance provider’s stock valued at $35,000 after buying an additional 73 shares during the last quarter. Finally, LRI Investments LLC acquired a new position in Progressive in the 1st quarter valued at about $36,000. 85.34% of the stock is currently owned by institutional investors and hedge funds.

Progressive Price Performance

Shares of Progressive stock traded down $3.17 on Thursday, reaching $258.20. 200,916 shares of the stock were exchanged, compared to its average volume of 2,452,354. The firm’s 50 day moving average is $251.92 and its 200-day moving average is $229.29. The Progressive Co. has a one year low of $149.14 and a one year high of $263.85. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.30 and a current ratio of 0.30. The firm has a market cap of $151.26 billion, a PE ratio of 18.99, a P/E/G ratio of 0.73 and a beta of 0.36.

Progressive (NYSE:PGR) last issued its quarterly earnings results on Tuesday, October 15th. The insurance provider reported $3.58 earnings per share for the quarter, topping analysts’ consensus estimates of $3.40 by $0.18. Progressive had a net margin of 11.27% and a return on equity of 33.10%. The company had revenue of $19.43 billion during the quarter, compared to the consensus estimate of $18.95 billion. As a group, analysts anticipate that The Progressive Co. will post 13.15 EPS for the current fiscal year.

Insider Transactions at Progressive

In related news, Director Dyke Kahina Van sold 2,180 shares of the stock in a transaction that occurred 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 transaction, the director now owns 13,723 shares of the company’s stock, valued at $3,462,038.44. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO Susan Patricia Griffith sold 43,370 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 473,735 shares of the company’s stock, valued at $119,475,967. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Dyke Kahina Van sold 2,180 shares of the stock in a transaction that occurred 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 directly owns 13,723 shares of the company’s stock, valued at approximately $3,462,038.44. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 65,331 shares of company stock valued at $16,415,812. Company insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

PGR has been the topic of a number of research reports. Evercore ISI upped their price target on shares of Progressive from $277.00 to $285.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. Morgan Stanley upped their price target on shares of Progressive from $300.00 to $310.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. The Goldman Sachs Group upped their price target on shares of Progressive from $262.00 to $280.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. JPMorgan Chase & Co. upped their price target on shares of Progressive from $242.00 to $251.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Finally, TD Cowen boosted their price objective on shares of Progressive from $197.00 to $237.00 and gave the company a “hold” rating in a report on Friday, November 8th. Seven analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $269.56.

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.