970 Shares in The Progressive Co. (NYSE:PGR) Acquired by GenTrust LLC

GenTrust LLC acquired a new position in The Progressive Co. (NYSE:PGR) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 970 shares of the insurance provider’s stock, valued at approximately $246,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PGR. Raleigh Capital Management Inc. boosted its stake in shares of Progressive by 20.9% during the 3rd quarter. Raleigh Capital Management Inc. now owns 237 shares of the insurance provider’s stock valued at $60,000 after buying an additional 41 shares during the period. Castleview Partners LLC raised its holdings in shares of Progressive by 2.7% during the 3rd quarter. Castleview Partners LLC now owns 1,712 shares of the insurance provider’s stock valued at $434,000 after purchasing an additional 45 shares in the last quarter. Washington Trust Bank raised its holdings in shares of Progressive by 4.6% during the 3rd quarter. Washington Trust Bank now owns 1,024 shares of the insurance provider’s stock valued at $260,000 after purchasing an additional 45 shares in the last quarter. Sunbelt Securities Inc. raised its holdings in shares of Progressive by 21.3% during the 2nd quarter. Sunbelt Securities Inc. now owns 262 shares of the insurance provider’s stock valued at $54,000 after purchasing an additional 46 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. raised its holdings in shares of Progressive by 11.8% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 455 shares of the insurance provider’s stock valued at $95,000 after purchasing an additional 48 shares in the last quarter. Institutional investors and hedge funds own 85.34% of the company’s stock.

Progressive Price Performance

NYSE:PGR opened at $266.06 on Friday. The firm has a market cap of $155.86 billion, a PE ratio of 19.34, a price-to-earnings-growth ratio of 0.73 and a beta of 0.36. The Progressive Co. has a 12 month low of $149.14 and a 12 month high of $266.18. 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 company’s 50-day moving average price is $253.06 and its two-hundred day moving average price is $231.63.

Progressive (NYSE:PGR) last released 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 firm had revenue of $19.43 billion for 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%. On average, equities analysts anticipate that The Progressive Co. will post 13.12 EPS for the current fiscal year.

Wall Street Analyst Weigh In

PGR has been the topic of a number of recent research reports. Keefe, Bruyette & Woods raised their price target on shares of Progressive from $280.00 to $290.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. HSBC upgraded shares of Progressive from a “hold” rating to a “buy” rating and set a $253.00 target price on the stock in a report on Monday, August 12th. StockNews.com upgraded shares of Progressive from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. The Goldman Sachs Group boosted their price objective on shares of Progressive from $262.00 to $280.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Finally, Evercore ISI boosted their price objective on shares of Progressive from $277.00 to $285.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. Five investment 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 company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $269.81.

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 shares were sold at an average price of $255.21, for a total transaction of $1,964,096.16. Following the transaction, the insider now directly owns 15,189 shares in the company, valued at approximately $3,876,384.69. This represents a 33.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Steven Broz sold 2,981 shares of the company’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 transaction, the insider now owns 26,353 shares in the company, valued at $6,618,555.95. The trade was a 10.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 59,209 shares of company stock worth $14,975,979 over the last ninety days. Corporate insiders own 0.34% of the company’s stock.

About Progressive

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.