The Progressive Co. (NYSE:PGR) Shares Bought by Advisors Asset Management Inc.

Advisors Asset Management Inc. grew its stake in The Progressive Co. (NYSE:PGR) by 29.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,240 shares of the insurance provider’s stock after purchasing an additional 3,498 shares during the period. Advisors Asset Management Inc.’s holdings in Progressive were worth $3,867,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Davis Capital Management purchased a new position in Progressive during the 3rd quarter worth $25,000. WR Wealth Planners LLC boosted its holdings 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 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 during the period. DiNuzzo Private Wealth Inc. raised its stake 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 worth $35,000 after buying an additional 73 shares in the last quarter. Finally, LRI Investments LLC acquired a new stake in shares of Progressive in the 1st quarter valued at approximately $36,000. 85.34% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Progressive news, CEO Susan Patricia Griffith sold 43,370 shares of Progressive stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 473,735 shares in the company, valued at $119,475,967. The trade was a 8.39 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Steven Broz sold 2,981 shares of the stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $251.15, for a total value of $748,678.15. Following the transaction, the insider now 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 59,209 shares of company stock valued at $14,975,979. Corporate insiders own 0.34% of the company’s stock.

Progressive Stock Performance

Shares of PGR stock opened at $266.04 on Friday. The company’s fifty day simple moving average is $253.06 and its 200-day simple moving average is $231.52. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.25. The Progressive Co. has a 52 week low of $149.14 and a 52 week high of $266.18. The company has a market cap of $155.85 billion, a PE ratio of 19.33, a P/E/G ratio of 0.71 and a beta of 0.36.

Progressive (NYSE:PGR) last released its quarterly earnings data on Tuesday, October 15th. The insurance provider reported $3.58 EPS 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 company had revenue of $19.43 billion for the quarter, compared to analyst estimates of $18.95 billion. As a group, equities research analysts anticipate that The Progressive Co. will post 13.09 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on PGR. Barclays boosted their price objective on shares of Progressive from $267.00 to $277.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 23rd. StockNews.com upgraded shares of Progressive from a “hold” rating to a “buy” rating in a research report on Tuesday. Piper Sandler raised their target price on shares of Progressive from $250.00 to $252.00 and gave the company an “overweight” rating in a report on Thursday, August 15th. Roth Mkm upped their target price on Progressive from $270.00 to $290.00 and gave the company a “buy” rating in a research note on Monday, September 16th. Finally, Hsbc Global Res raised shares of Progressive from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 12th. Five equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $269.81.

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.