The Progressive Co. (NYSE:PGR) Shares Sold by KPP Advisory Services LLC

KPP Advisory Services LLC decreased its holdings in shares of The Progressive Co. (NYSE:PGR) by 2.8% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,301 shares of the insurance provider’s stock after selling 67 shares during the period. KPP Advisory Services LLC’s holdings in Progressive were worth $584,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in PGR. Davis Capital Management purchased a new stake in shares of Progressive in the third quarter valued at about $25,000. WR Wealth Planners LLC grew its holdings in shares of Progressive by 119.6% in the 2nd quarter. WR Wealth Planners LLC now owns 123 shares of the insurance provider’s stock worth $26,000 after acquiring an additional 67 shares during the period. Hilltop National Bank increased its stake in Progressive by 126.0% in the 2nd quarter. Hilltop National Bank now owns 165 shares of the insurance provider’s stock valued at $34,000 after purchasing an additional 92 shares in the last quarter. DiNuzzo Private Wealth Inc. raised its holdings in Progressive by 114.1% during the third quarter. DiNuzzo Private Wealth Inc. now owns 137 shares of the insurance provider’s stock worth $35,000 after purchasing an additional 73 shares during the last quarter. Finally, LRI Investments LLC purchased a new stake in Progressive during the first quarter worth $36,000. Hedge funds and other institutional investors own 85.34% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. JPMorgan Chase & Co. lifted their price target on Progressive from $242.00 to $251.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Keefe, Bruyette & Woods increased their price target on shares of Progressive from $280.00 to $290.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. TD Cowen raised their price objective on shares of Progressive from $197.00 to $237.00 and gave the stock a “hold” rating in a research note on Friday, November 8th. Piper Sandler upped their target price on Progressive from $250.00 to $252.00 and gave the company an “overweight” rating in a research note on Thursday, August 15th. Finally, HSBC raised Progressive from a “hold” rating to a “buy” rating and set a $253.00 price target for the company in a research report on Monday, August 12th. Seven analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $269.56.

Progressive Trading Down 0.7 %

Progressive stock traded down $1.72 during midday trading on Friday, reaching $255.78. The stock had a trading volume of 3,259,995 shares, compared to its average volume of 2,463,986. The stock has a market capitalization of $149.84 billion, a PE ratio of 18.59, a price-to-earnings-growth ratio of 0.73 and a beta of 0.36. 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 stock’s 50-day simple moving average is $252.22 and its 200 day simple moving average is $229.82. The Progressive Co. has a twelve month low of $149.14 and a twelve month high of $263.85.

Progressive (NYSE:PGR) last announced its quarterly earnings results on Tuesday, October 15th. The insurance provider reported $3.58 earnings per share for the quarter, topping analysts’ consensus estimates of $3.40 by $0.18. The firm had revenue of $19.43 billion during the quarter, compared to analysts’ expectations of $18.95 billion. Progressive had a net margin of 11.27% and a return on equity of 33.10%. Analysts expect that The Progressive Co. will post 13.11 EPS for the current year.

Insider Buying and Selling at Progressive

In other news, insider Patrick K. Callahan sold 7,696 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $255.21, for a total transaction of $1,964,096.16. Following the completion of the transaction, the insider now directly owns 15,189 shares of the company’s stock, valued at approximately $3,876,384.69. This represents a 33.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Steven Broz sold 6,122 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $235.19, for a total value of $1,439,833.18. Following the transaction, the insider now owns 32,316 shares of the company’s stock, valued at $7,600,400.04. This represents a 15.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 65,331 shares of company stock valued at $16,415,812 in the last ninety days. Insiders own 0.34% of the company’s stock.

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.