12,846 Shares in The Progressive Co. (NYSE:PGR) Purchased by Consolidated Planning Corp

Consolidated Planning Corp acquired a new stake in shares of The Progressive Co. (NYSE:PGR) in the third quarter, Holdings Channel reports. The firm acquired 12,846 shares of the insurance provider’s stock, valued at approximately $3,260,000.

A number of other hedge funds also recently bought and sold shares of the company. Concurrent Investment Advisors LLC boosted its position in shares of Progressive by 66.4% during the first quarter. Concurrent Investment Advisors LLC now owns 6,814 shares of the insurance provider’s stock valued at $1,409,000 after buying an additional 2,719 shares during the last quarter. Diversified Trust Co grew its stake in shares of 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 acquiring an additional 11,770 shares during the period. Councilmark Asset Management LLC purchased a new position in shares of Progressive during the first quarter valued at approximately $1,890,000. Sycomore Asset Management lifted its position in Progressive by 9.5% during the second quarter. Sycomore Asset Management now owns 28,128 shares of the insurance provider’s stock valued at $5,856,000 after purchasing an additional 2,450 shares during the period. Finally, Sumitomo Life Insurance Co. purchased a new stake in Progressive in the second quarter worth approximately $981,000. Institutional investors own 85.34% of the company’s stock.

Insider Activity

In other news, CEO Susan Patricia Griffith sold 43,370 shares of the business’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 transaction, the chief executive officer now owns 473,735 shares of the company’s stock, valued at approximately $119,475,967. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Dyke Kahina Van sold 2,180 shares of the company’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $252.28, for a total transaction of $549,970.40. Following the sale, the director now directly 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Susan Patricia Griffith sold 43,370 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $252.20, for a total transaction of $10,937,914.00. Following the completion of the transaction, the chief executive officer now directly owns 473,735 shares of the company’s stock, valued at approximately $119,475,967. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 74,843 shares of company stock worth $18,674,912 over the last quarter. Insiders own 0.34% of the company’s stock.

Progressive Trading Down 1.3 %

Shares of PGR stock opened at $255.27 on Friday. The stock has a fifty day simple moving average of $251.12 and a two-hundred day simple moving average of $227.59. The Progressive Co. has a 52-week low of $149.14 and a 52-week high of $260.46. The firm has a market capitalization of $149.50 billion, a PE ratio of 18.55, a PEG ratio of 0.67 and a beta of 0.36. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.31 and a current ratio of 0.31.

Progressive (NYSE:PGR) last released its earnings results on Tuesday, October 15th. The insurance provider reported $3.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.40 by $0.18. Progressive had a return on equity of 35.21% and a net margin of 11.27%. The firm had revenue of $19.43 billion during the quarter, compared to analysts’ expectations of $18.95 billion. On average, analysts predict that The Progressive Co. will post 13.15 EPS for the current fiscal year.

Analysts Set New Price Targets

PGR has been the topic of several research analyst reports. BMO Capital Markets lowered their price target on Progressive from $239.00 to $237.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. Barclays raised their target price on Progressive from $267.00 to $277.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 23rd. Hsbc Global Res raised shares of Progressive from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 12th. Piper Sandler increased their price objective on shares of Progressive from $250.00 to $252.00 and gave the stock an “overweight” rating in a research note on Thursday, August 15th. Finally, Bank of America boosted their target price on shares of Progressive from $319.00 to $331.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Seven analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $265.63.

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.