Atlanta Consulting Group Advisors LLC Takes $337,000 Position in The Progressive Co. (NYSE:PGR)

Atlanta Consulting Group Advisors LLC acquired a new position in The Progressive Co. (NYSE:PGR) during the 3rd quarter, HoldingsChannel.com reports. The firm acquired 1,327 shares of the insurance provider’s stock, valued at approximately $337,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Covestor Ltd lifted its holdings in shares of Progressive by 216.3% during the 1st quarter. Covestor Ltd now owns 639 shares of the insurance provider’s stock worth $132,000 after acquiring an additional 437 shares during the last quarter. Trustmark National Bank Trust Department purchased a new stake in Progressive during the first quarter valued at about $236,000. O Shaughnessy Asset Management LLC lifted its stake in Progressive by 11.7% during the first quarter. O Shaughnessy Asset Management LLC now owns 52,969 shares of the insurance provider’s stock worth $10,955,000 after purchasing an additional 5,557 shares during the last quarter. Seven Eight Capital LP purchased a new position in shares of Progressive in the 1st quarter worth about $568,000. Finally, UniSuper Management Pty Ltd increased its position in shares of Progressive by 168.3% during the 1st quarter. UniSuper Management Pty Ltd now owns 12,644 shares of the insurance provider’s stock valued at $2,615,000 after purchasing an additional 7,932 shares during the last quarter. 85.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. StockNews.com lowered Progressive from a “buy” rating to a “hold” rating in a research note on Monday, November 11th. Wells Fargo & Company increased their target price on shares of Progressive from $281.00 to $282.00 and gave the company an “overweight” rating in a report on Tuesday, September 10th. Piper Sandler boosted their price target on shares of Progressive from $250.00 to $252.00 and gave the stock an “overweight” rating in a research note on Thursday, August 15th. JPMorgan Chase & Co. raised their price objective on Progressive from $242.00 to $251.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Finally, Hsbc Global Res raised Progressive from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 12th. Six equities research 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 company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $269.56.

Progressive Trading Down 0.7 %

NYSE PGR opened at $255.78 on Monday. The stock’s 50 day moving average is $252.22 and its 200 day moving average is $230.10. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $149.84 billion, a PE ratio of 18.59, a P/E/G ratio of 0.71 and a beta of 0.36. The Progressive Co. has a twelve month low of $149.14 and a twelve month high of $263.85.

Progressive (NYSE:PGR) last issued its quarterly earnings results on Tuesday, October 15th. The insurance provider reported $3.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.40 by $0.18. The company 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%. Research analysts forecast that The Progressive Co. will post 13.09 earnings per share for the current fiscal year.

Insider Buying and Selling at Progressive

In other news, CEO Susan Patricia Griffith sold 43,370 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 473,735 shares of the company’s stock, valued at $119,475,967. The trade was a 8.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Steven Broz sold 2,981 shares of the firm’s stock in a transaction that occurred on Monday, October 21st. The stock was 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 owns 26,353 shares in the company, valued at $6,618,555.95. This represents a 10.16 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 59,209 shares of company stock worth $14,975,979. 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.