The Progressive Co. (NYSE:PGR) Shares Bought by Arthur M. Cohen & Associates LLC

Arthur M. Cohen & Associates LLC lifted its holdings in shares of The Progressive Co. (NYSE:PGR) by 6.4% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 34,314 shares of the insurance provider’s stock after buying an additional 2,061 shares during the period. Progressive accounts for approximately 1.6% of Arthur M. Cohen & Associates LLC’s holdings, making the stock its 15th largest holding. Arthur M. Cohen & Associates LLC’s holdings in Progressive were worth $8,725,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Davis Capital Management purchased a new position in Progressive in the 3rd quarter valued at about $25,000. WR Wealth Planners LLC raised its holdings in shares of Progressive by 119.6% during the second quarter. WR Wealth Planners LLC now owns 123 shares of the insurance provider’s stock valued at $26,000 after acquiring an additional 67 shares during the last quarter. DiNuzzo Private Wealth Inc. boosted its stake in shares of Progressive by 114.1% in the third quarter. DiNuzzo Private Wealth Inc. now owns 137 shares of the insurance provider’s stock worth $35,000 after acquiring an additional 73 shares during the last quarter. Hilltop National Bank increased its position in shares of 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 purchasing an additional 92 shares in the last quarter. Finally, LRI Investments LLC acquired a new position in Progressive in the 1st quarter valued at $36,000. Hedge funds and other institutional investors own 85.34% of the company’s stock.

Progressive Trading Up 0.0 %

Shares of PGR stock opened at $241.52 on Tuesday. The company has a 50-day moving average of $250.86 and a two-hundred day moving average of $227.13. The firm has a market cap of $141.45 billion, a PE ratio of 17.55, a price-to-earnings-growth ratio of 0.67 and a beta of 0.36. The Progressive Co. has a 1-year low of $149.14 and a 1-year high of $260.46. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.31 and a quick ratio of 0.31.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. BMO Capital Markets lowered their target price on shares of Progressive from $239.00 to $237.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Evercore ISI increased their price objective on shares of Progressive from $243.00 to $246.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Hsbc Global Res upgraded Progressive from a “hold” rating to a “strong-buy” rating in a report on Monday, August 12th. Roth Mkm increased 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. Finally, Morgan Stanley boosted their price objective on Progressive from $300.00 to $310.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Seven analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $263.19.

Insider Buying and Selling

In other Progressive news, insider Steven Broz sold 6,122 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $235.19, for a total value of $1,439,833.18. Following the sale, the insider now owns 32,316 shares of the company’s stock, valued at $7,600,400.04. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Steven Broz sold 6,122 shares of Progressive stock in a transaction on Monday, August 19th. The stock was sold at an average price of $235.19, for a total value of $1,439,833.18. Following the completion of the sale, the insider now directly owns 32,316 shares of the company’s stock, valued at approximately $7,600,400.04. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Susan Patricia Griffith sold 43,370 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was 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 directly owns 473,735 shares in the company, valued at approximately $119,475,967. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 74,843 shares of company stock valued at $18,674,912. Company insiders own 0.34% of the company’s stock.

Progressive Company 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.