Captrust Financial Advisors Buys 806 Shares of The Progressive Co. (NYSE:PGR)

Captrust Financial Advisors boosted its stake in The Progressive Co. (NYSE:PGR) by 2.7% in the third quarter, HoldingsChannel reports. The institutional investor owned 30,748 shares of the insurance provider’s stock after buying an additional 806 shares during the quarter. Captrust Financial Advisors’ holdings in Progressive were worth $7,803,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. FMR LLC increased its position in shares of Progressive by 1.6% during the 3rd quarter. FMR LLC now owns 10,518,615 shares of the insurance provider’s stock valued at $2,669,204,000 after purchasing an additional 170,618 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Progressive by 7.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,067,924 shares of the insurance provider’s stock valued at $1,286,036,000 after acquiring an additional 330,667 shares during the period. Legal & General Group Plc lifted its holdings in Progressive by 1.9% during the 2nd quarter. Legal & General Group Plc now owns 4,922,743 shares of the insurance provider’s stock worth $1,022,507,000 after purchasing an additional 92,212 shares in the last quarter. Jennison Associates LLC lifted its holdings in shares of Progressive by 21.6% in the third quarter. Jennison Associates LLC now owns 4,749,628 shares of the insurance provider’s stock worth $1,205,266,000 after buying an additional 842,109 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Progressive by 1.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,836,218 shares of the insurance provider’s stock worth $973,479,000 after purchasing an additional 39,675 shares in the last quarter. 85.34% of the stock is currently owned by institutional investors.

Progressive Stock Performance

NYSE:PGR opened at $263.97 on Tuesday. 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 fifty-two week low of $149.14 and a fifty-two week high of $270.62. The firm has a market cap of $154.64 billion, a PE ratio of 19.19, a price-to-earnings-growth ratio of 0.74 and a beta of 0.36. The business has a 50 day moving average price of $254.08 and a 200-day moving average price of $233.65.

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, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $18.95 billion. Equities research analysts predict that The Progressive Co. will post 13.2 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms recently issued reports on PGR. Bank of America lifted their price objective on Progressive from $331.00 to $335.00 and gave the company a “buy” rating in a research note on Monday, November 18th. Evercore ISI lifted their price target on Progressive from $277.00 to $285.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. StockNews.com upgraded shares of Progressive from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. Roth Mkm lifted their target price on shares of Progressive from $270.00 to $290.00 and gave the company a “buy” rating in a research report on Monday, September 16th. Finally, JPMorgan Chase & Co. increased their price target on shares of Progressive from $242.00 to $251.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Five research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $269.81.

Insider Buying and Selling

In other Progressive news, insider Steven Broz sold 2,981 shares of the company’s stock in a transaction 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 completion of the transaction, the insider now directly owns 26,353 shares in the company, valued at approximately $6,618,555.95. This represents a 10.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Dyke Kahina Van sold 2,180 shares of Progressive stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $252.28, for a total transaction of $549,970.40. Following the sale, the director now directly owns 13,723 shares in the company, valued at $3,462,038.44. The trade was a 13.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 15,839 shares of company stock valued at $4,038,065 over the last ninety days. 0.34% of the stock is owned by insiders.

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.