First Heartland Consultants Inc. Has $572,000 Position in The Progressive Co. (NYSE:PGR)

First Heartland Consultants Inc. boosted its holdings in The Progressive Co. (NYSE:PGR) by 3.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,253 shares of the insurance provider’s stock after purchasing an additional 79 shares during the quarter. First Heartland Consultants Inc.’s holdings in Progressive were worth $572,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Davis Capital Management purchased a new position in Progressive during the 3rd quarter worth $25,000. WR Wealth Planners LLC boosted its holdings in Progressive by 119.6% during the 2nd quarter. WR Wealth Planners LLC now owns 123 shares of the insurance provider’s stock worth $26,000 after acquiring an additional 67 shares during the last quarter. DiNuzzo Private Wealth Inc. boosted 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 worth $35,000 after acquiring an additional 73 shares during the last quarter. Hilltop National Bank boosted its holdings in Progressive by 126.0% during the 2nd quarter. Hilltop National Bank now owns 165 shares of the insurance provider’s stock worth $34,000 after acquiring an additional 92 shares during the last quarter. Finally, LRI Investments LLC purchased a new position in Progressive during the 1st quarter worth $36,000. Institutional investors and hedge funds own 85.34% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. TD Cowen lifted their price objective on shares of Progressive from $197.00 to $237.00 and gave the stock a “hold” rating in a report on Friday, November 8th. Barclays upped their price target on Progressive from $267.00 to $277.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 23rd. Citigroup cut their target price on Progressive from $232.00 to $225.00 and set a “neutral” rating for the company in a research note on Wednesday, July 17th. Jefferies Financial Group increased their price objective on Progressive from $257.00 to $295.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Finally, Morgan Stanley increased their price objective on Progressive from $300.00 to $310.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. Seven investment analysts have rated the stock with a hold rating, twelve have given 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 an average target price of $269.56.

Insider Buying and Selling

In other Progressive news, CEO Susan Patricia Griffith sold 43,370 shares of Progressive stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $252.20, for a total value of $10,937,914.00. Following the sale, the chief executive officer now owns 473,735 shares in the company, valued at $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 Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Susan Patricia Griffith sold 43,370 shares of Progressive stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $252.20, for a total value of $10,937,914.00. Following the completion of the sale, the chief executive officer now directly owns 473,735 shares of the company’s stock, valued at approximately $119,475,967. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Steven Broz sold 2,982 shares of Progressive stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $260.00, for a total value of $775,320.00. Following the completion of the sale, the insider now directly owns 29,334 shares of the company’s stock, valued at $7,626,840. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 74,843 shares of company stock worth $18,674,912. 0.34% of the stock is owned by corporate insiders.

Progressive Stock Up 0.9 %

Progressive stock opened at $262.29 on Wednesday. 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 Progressive Co. has a 52 week low of $149.14 and a 52 week high of $263.85. The business’s 50-day moving average price is $251.57 and its 200 day moving average price is $228.68. The firm has a market cap of $153.65 billion, a price-to-earnings ratio of 19.06, a price-to-earnings-growth ratio of 0.72 and a beta of 0.36.

Progressive (NYSE:PGR) last released its 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. The business had revenue of $19.43 billion for the quarter, compared to the consensus estimate of $18.95 billion. Progressive had a return on equity of 33.10% and a net margin of 11.27%. As a group, sell-side analysts anticipate that The Progressive Co. will post 13.15 earnings per share for the current year.

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.