The Progressive Co. (NYSE:PGR) Shares Sold by Gilbert & Cook Inc.

Gilbert & Cook Inc. reduced its stake in shares of The Progressive Co. (NYSE:PGR) by 35.2% in the 3rd quarter, HoldingsChannel reports. The firm owned 1,330 shares of the insurance provider’s stock after selling 724 shares during the quarter. Gilbert & Cook Inc.’s holdings in Progressive were worth $338,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Davis Capital Management purchased a new position in Progressive during the third quarter worth $25,000. WR Wealth Planners LLC increased its position in 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 in the last quarter. Hilltop National Bank increased its position in Progressive by 126.0% during the 2nd quarter. Hilltop National Bank now owns 165 shares of the insurance provider’s stock worth $34,000 after purchasing an additional 92 shares in the last quarter. DiNuzzo Private Wealth Inc. raised 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 purchasing an additional 73 shares during the last quarter. Finally, LRI Investments LLC purchased a new position in Progressive in the 1st quarter valued at about $36,000. Hedge funds and other institutional investors own 85.34% of the company’s stock.

Insiders Place Their Bets

In related news, insider Steven Broz sold 2,981 shares of the firm’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $251.15, for a total transaction of $748,678.15. Following the completion of the sale, the insider now directly owns 26,353 shares of the company’s stock, valued at approximately $6,618,555.95. This trade represents a 10.16 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Susan Patricia Griffith sold 43,370 shares of the business’s stock in a transaction on 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 transaction, the chief executive officer now owns 473,735 shares in the company, valued at $119,475,967. This represents a 8.39 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 65,331 shares of company stock worth $16,415,812 over the last quarter. 0.34% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

PGR has been the subject of a number of analyst reports. Piper Sandler boosted their price objective on shares of Progressive from $250.00 to $252.00 and gave the company an “overweight” rating in a research report on Thursday, August 15th. Roth Mkm boosted their price target on Progressive from $270.00 to $290.00 and gave the company a “buy” rating in a report on Monday, September 16th. StockNews.com lowered Progressive from a “buy” rating to a “hold” rating in a research note on Monday, November 11th. Keefe, Bruyette & Woods lifted their price objective on Progressive from $280.00 to $290.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Finally, BMO Capital Markets reduced 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. Six investment 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $269.56.

Progressive Trading Down 0.7 %

NYSE PGR opened at $255.78 on Friday. 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 Progressive Co. has a one year low of $149.14 and a one year high of $263.85. The company’s 50 day moving average price is $252.22 and its 200 day moving average price is $229.98. The firm has a market capitalization of $149.84 billion, a price-to-earnings ratio of 18.59, a PEG ratio of 0.71 and a beta of 0.36.

Progressive (NYSE:PGR) last issued its earnings results on Tuesday, October 15th. The insurance provider reported $3.58 EPS for the quarter, beating 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 business had revenue of $19.43 billion for the quarter, compared to the consensus estimate of $18.95 billion. On average, sell-side analysts predict that The Progressive Co. will post 13.09 EPS for the current year.

Progressive 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.