Prime Capital Investment Advisors LLC Has $1.42 Million Stock Holdings in The Progressive Co. (NYSE:PGR)

Prime Capital Investment Advisors LLC boosted its holdings in The Progressive Co. (NYSE:PGR) by 1.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,577 shares of the insurance provider’s stock after buying an additional 93 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Progressive were worth $1,415,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Raleigh Capital Management Inc. raised its position in shares of Progressive by 20.9% during the third quarter. Raleigh Capital Management Inc. now owns 237 shares of the insurance provider’s stock worth $60,000 after acquiring an additional 41 shares during the last quarter. Castleview Partners LLC increased its position in Progressive by 2.7% during the 3rd quarter. Castleview Partners LLC now owns 1,712 shares of the insurance provider’s stock valued at $434,000 after purchasing an additional 45 shares during the period. Washington Trust Bank raised its holdings in Progressive by 4.6% during the 3rd quarter. Washington Trust Bank now owns 1,024 shares of the insurance provider’s stock worth $260,000 after purchasing an additional 45 shares during the last quarter. Sunbelt Securities Inc. lifted its position in shares of Progressive by 21.3% in the 2nd quarter. Sunbelt Securities Inc. now owns 262 shares of the insurance provider’s stock worth $54,000 after purchasing an additional 46 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. boosted its stake in shares of Progressive by 11.8% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 455 shares of the insurance provider’s stock valued at $95,000 after purchasing an additional 48 shares during the last quarter. 85.34% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, insider Steven Broz sold 2,981 shares of Progressive stock in a transaction on Monday, October 21st. The stock was sold at an average price of $251.15, for a total transaction of $748,678.15. Following the sale, the insider now directly owns 26,353 shares in the company, valued at approximately $6,618,555.95. This trade represents a 10.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Susan Patricia Griffith sold 43,370 shares of the company’s stock in a transaction 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 trade represents a 8.39 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 65,331 shares of company stock worth $16,415,812. 0.34% of the stock is owned by insiders.

Wall Street Analyst Weigh In

PGR has been the topic of several recent analyst reports. Hsbc Global Res upgraded shares of Progressive from a “hold” rating to a “strong-buy” rating in a report on Monday, August 12th. StockNews.com lowered Progressive from a “buy” rating to a “hold” rating in a research report on Monday. Jefferies Financial Group lifted their target price on Progressive from $257.00 to $295.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Roth Mkm increased their price target on Progressive from $270.00 to $290.00 and gave the stock a “buy” rating in a report on Monday, September 16th. Finally, HSBC raised shares of Progressive from a “hold” rating to a “buy” rating and set a $253.00 price objective for the company in a research report on Monday, August 12th. Seven investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $269.56.

Progressive Stock Down 1.5 %

PGR stock opened at $257.47 on Friday. The firm has a market capitalization of $150.83 billion, a PE ratio of 18.67, a P/E/G ratio of 0.73 and a beta of 0.36. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.25. The Progressive Co. has a twelve month low of $149.14 and a twelve month high of $263.85. The stock’s 50 day moving average is $251.92 and its 200-day moving average is $229.29.

Progressive (NYSE:PGR) last issued 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. Progressive had a return on equity of 33.10% and a net margin of 11.27%. The business had revenue of $19.43 billion for the quarter, compared to analysts’ expectations of $18.95 billion. Sell-side analysts expect that The Progressive Co. will post 13.15 EPS for the current fiscal year.

About Progressive

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.