Progressive (NYSE:PGR) PT Raised to $277.00

Progressive (NYSE:PGR) had its price objective hoisted by Barclays from $267.00 to $277.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has an “equal weight” rating on the insurance provider’s stock. Barclays‘s price objective would indicate a potential upside of 11.58% from the stock’s current price.

Several other equities analysts have also recently weighed in on PGR. The Goldman Sachs Group raised their target price 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. Wells Fargo & Company raised their price objective on Progressive from $281.00 to $282.00 and gave the company an “overweight” rating in a research report on Tuesday, September 10th. BMO Capital Markets decreased their target price on Progressive from $239.00 to $237.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. Piper Sandler raised their price target on Progressive from $250.00 to $252.00 and gave the company an “overweight” rating in a report on Thursday, August 15th. Finally, JPMorgan Chase & Co. upped their price objective on Progressive from $242.00 to $251.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Seven research 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 currently has an average rating of “Moderate Buy” and an average target price of $263.19.

Progressive Stock Down 1.0 %

NYSE PGR opened at $248.25 on Wednesday. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.30. Progressive has a 12 month low of $149.14 and a 12 month high of $260.46. The stock’s 50 day moving average is $249.88 and its 200 day moving average is $224.79. The stock has a market cap of $145.39 billion, a PE ratio of 18.04, a P/E/G ratio of 0.69 and a beta of 0.35.

Insider Buying and Selling at Progressive

In related news, CEO Susan Patricia Griffith sold 43,370 shares of Progressive stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $252.20, for a total transaction of $10,937,914.00. Following the completion of the sale, the chief executive officer now owns 473,735 shares of the company’s stock, valued at $119,475,967. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director Dyke Kahina Van sold 2,180 shares of the firm’s stock in a transaction 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 owns 13,723 shares of the company’s stock, valued at $3,462,038.44. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 transaction of $10,937,914.00. Following the completion of the sale, the chief executive officer now directly owns 473,735 shares in the company, valued at approximately $119,475,967. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 71,862 shares of company stock worth $17,926,234. 0.34% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Progressive

Institutional investors and hedge funds have recently modified their holdings of the stock. Davis Capital Management purchased a new position in Progressive during the third quarter valued at approximately $25,000. WR Wealth Planners LLC grew its stake 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 worth $26,000 after purchasing an additional 67 shares during the period. DiNuzzo Private Wealth Inc. increased 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 valued at $35,000 after purchasing an additional 73 shares in the last quarter. Indiana Trust & Investment Management CO acquired a new position in shares of Progressive in the 1st quarter valued at $32,000. Finally, Hilltop National Bank boosted its holdings in Progressive by 126.0% during the second quarter. Hilltop National Bank now owns 165 shares of the insurance provider’s stock worth $34,000 after buying an additional 92 shares in the last quarter. Institutional investors and hedge funds own 85.34% of the company’s stock.

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.