Focused Wealth Management Inc Makes New $130,000 Investment in The Progressive Co. (NYSE:PGR)

Focused Wealth Management Inc purchased a new stake in shares of The Progressive Co. (NYSE:PGR) during the third quarter, Holdings Channel.com reports. The firm purchased 511 shares of the insurance provider’s stock, valued at approximately $130,000.

Several other hedge funds have also made changes to their positions in PGR. Crestwood Advisors Group LLC lifted its holdings in shares of Progressive by 15.3% in the third quarter. Crestwood Advisors Group LLC now owns 2,622 shares of the insurance provider’s stock valued at $665,000 after purchasing an additional 348 shares in the last quarter. Arthur M. Cohen & Associates LLC boosted its position in Progressive by 6.4% during the 3rd quarter. Arthur M. Cohen & Associates LLC now owns 34,314 shares of the insurance provider’s stock worth $8,725,000 after acquiring an additional 2,061 shares during the period. Amalgamated Bank boosted its position in Progressive by 4.9% during the 3rd quarter. Amalgamated Bank now owns 130,631 shares of the insurance provider’s stock worth $33,149,000 after acquiring an additional 6,063 shares during the period. United Advisor Group LLC grew its stake in Progressive by 10.4% during the 3rd quarter. United Advisor Group LLC now owns 5,429 shares of the insurance provider’s stock valued at $1,378,000 after acquiring an additional 510 shares in the last quarter. Finally, FSM Wealth Advisors LLC increased its holdings in shares of Progressive by 4.8% in the 3rd quarter. FSM Wealth Advisors LLC now owns 1,603 shares of the insurance provider’s stock valued at $407,000 after purchasing an additional 74 shares during the period. Hedge funds and other institutional investors own 85.34% of the company’s stock.

Insider Activity at Progressive

In other news, insider John Jo Murphy sold 9,512 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $237.50, for a total transaction of $2,259,100.00. Following the completion of the transaction, the insider now directly owns 45,787 shares in the company, valued at $10,874,412.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 stock was sold at an average price of $252.20, for a total transaction of $10,937,914.00. Following the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider John Jo Murphy sold 9,512 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $237.50, for a total transaction of $2,259,100.00. Following the transaction, the insider now directly owns 45,787 shares of the company’s stock, valued at $10,874,412.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 74,843 shares of company stock worth $18,674,912 in the last 90 days. 0.34% of the stock is owned by company insiders.

Analyst Ratings Changes

PGR has been the subject of several research reports. Morgan Stanley raised their price target on shares of Progressive from $300.00 to $310.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. Barclays boosted their price target on shares of Progressive from $267.00 to $277.00 and gave the company an “equal weight” rating in a report on Wednesday, October 23rd. StockNews.com lowered Progressive from a “buy” rating to a “hold” rating in a report on Friday, November 1st. Jefferies Financial Group boosted their target price on Progressive from $257.00 to $295.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Finally, BMO Capital Markets cut their price target on Progressive from $239.00 to $237.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Seven analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $263.19.

Progressive Stock Up 2.7 %

PGR stock opened at $248.07 on Wednesday. The stock has a market capitalization of $145.29 billion, a price-to-earnings ratio of 18.03, a price-to-earnings-growth ratio of 0.67 and a beta of 0.36. The company has a 50-day moving average of $250.91 and a two-hundred day moving average of $227.37. The Progressive Co. has a 52-week low of $149.14 and a 52-week 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.

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.