Integrated Investment Consultants LLC Acquires Shares of 14,766 The Progressive Co. (NYSE:PGR)

Integrated Investment Consultants LLC bought a new stake in shares of The Progressive Co. (NYSE:PGR) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 14,766 shares of the insurance provider’s stock, valued at approximately $3,747,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Davis Capital Management bought a new position in Progressive during the third quarter worth about $25,000. WR Wealth Planners LLC grew its stake 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 buying an additional 67 shares in the last quarter. DiNuzzo Private Wealth Inc. raised its holdings in Progressive by 114.1% during the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 137 shares of the insurance provider’s stock valued at $35,000 after acquiring an additional 73 shares during the period. Hilltop National Bank lifted 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 acquiring an additional 92 shares in the last quarter. Finally, LRI Investments LLC bought a new position in shares of Progressive in the first quarter worth $36,000. 85.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PGR has been the subject of a number of recent analyst reports. Barclays lifted their target price on Progressive from $267.00 to $277.00 and gave the company an “equal weight” rating in a report on Wednesday, October 23rd. Piper Sandler increased their target price 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. Roth Mkm boosted their price target 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. Wells Fargo & Company lifted their price objective on Progressive from $281.00 to $282.00 and gave the company an “overweight” rating in a research note on Tuesday, September 10th. Finally, BMO Capital Markets cut their price objective on Progressive from $239.00 to $237.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. 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 MarketBeat.com, Progressive currently has a consensus rating of “Moderate Buy” and a consensus target price of $269.81.

Progressive Price Performance

Shares of Progressive stock opened at $256.99 on Thursday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.30 and a quick ratio of 0.30. The Progressive Co. has a one year low of $149.14 and a one year high of $263.85. The business’s 50 day simple moving average is $252.58 and its two-hundred day simple moving average is $230.94. The stock has a market capitalization of $150.54 billion, a P/E ratio of 18.68, a price-to-earnings-growth ratio of 0.71 and a beta of 0.36.

Progressive (NYSE:PGR) last posted its quarterly earnings results on Tuesday, October 15th. The insurance provider reported $3.58 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 analyst estimates of $18.95 billion. Progressive had a net margin of 11.27% and a return on equity of 33.10%. Analysts forecast that The Progressive Co. will post 13.09 EPS for the current year.

Insider Transactions at Progressive

In related news, CEO Susan Patricia Griffith sold 43,370 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $252.20, for a total value 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. This represents a 8.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Steven Broz sold 2,981 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $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. Over the last ninety days, insiders sold 59,209 shares of company stock worth $14,975,979. 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.