The Progressive Co. (NYSE:PGR) Shares Sold by Lindbrook Capital LLC

Lindbrook Capital LLC reduced its position in shares of The Progressive Co. (NYSE:PGRFree Report) by 1.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,235 shares of the insurance provider’s stock after selling 69 shares during the period. Lindbrook Capital LLC’s holdings in Progressive were worth $1,328,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PGR. Davis Capital Management bought a new position in shares of Progressive during the 3rd quarter valued at about $25,000. WR Wealth Planners LLC boosted its holdings in Progressive by 119.6% during the second quarter. WR Wealth Planners LLC now owns 123 shares of the insurance provider’s stock worth $26,000 after buying an additional 67 shares in the last quarter. Hilltop National Bank grew its position in Progressive by 126.0% in the second quarter. Hilltop National Bank now owns 165 shares of the insurance provider’s stock worth $34,000 after buying an additional 92 shares during the last quarter. DiNuzzo Private Wealth Inc. increased its holdings in shares of Progressive by 114.1% in the third quarter. DiNuzzo Private Wealth Inc. now owns 137 shares of the insurance provider’s stock valued at $35,000 after buying an additional 73 shares in the last quarter. Finally, LRI Investments LLC bought a new position in shares of Progressive in the first quarter valued at $36,000. 85.34% of the stock is currently owned by institutional investors.

Progressive Stock Up 2.4 %

PGR opened at $261.51 on Friday. The company has a market capitalization of $153.20 billion, a PE ratio of 19.01, a price-to-earnings-growth ratio of 0.72 and a beta of 0.36. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.30 and a quick ratio of 0.31. The Progressive Co. has a fifty-two week low of $149.14 and a fifty-two week high of $263.39. The business has a 50-day moving average of $251.41 and a 200-day moving average of $228.12.

Progressive (NYSE:PGRGet Free Report) last issued its quarterly earnings data 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 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%. Equities research analysts forecast that The Progressive Co. will post 13.14 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on PGR. Roth Mkm lifted their target price on Progressive from $270.00 to $290.00 and gave the stock a “buy” rating in a report on Monday, September 16th. Morgan Stanley lifted their price target on Progressive from $300.00 to $310.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. TD Cowen boosted their price objective on Progressive from $197.00 to $237.00 and gave the stock a “hold” rating in a report on Friday. StockNews.com cut shares of Progressive from a “buy” rating to a “hold” rating in a report on Friday, November 1st. Finally, 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. Seven analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $269.56.

View Our Latest Research Report on PGR

Insider Activity at Progressive

In other Progressive news, CEO Susan Patricia Griffith sold 43,370 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $252.20, for a total transaction of $10,937,914.00. Following 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 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Progressive news, CEO Susan Patricia Griffith sold 43,370 shares of the 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 transaction, the chief executive officer now owns 473,735 shares in the company, valued at $119,475,967. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Dyke Kahina Van sold 2,180 shares of the business’s stock in a transaction on Friday, September 27th. The stock was sold at an average price of $252.28, for a total transaction of $549,970.40. Following the completion of the sale, the director now owns 13,723 shares of the company’s stock, valued at $3,462,038.44. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 74,843 shares of company stock valued at $18,674,912. Insiders own 0.34% of the company’s stock.

About Progressive

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Progressive (NYSE:PGR)

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