The Progressive Co. (NYSE:PGR) Holdings Cut by Lountzis Asset Management LLC

Lountzis Asset Management LLC lessened its holdings in shares of The Progressive Co. (NYSE:PGR) by 0.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 80,192 shares of the insurance provider’s stock after selling 513 shares during the period. Progressive comprises approximately 8.5% of Lountzis Asset Management LLC’s holdings, making the stock its 3rd largest holding. Lountzis Asset Management LLC’s holdings in Progressive were worth $20,350,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Davis Capital Management purchased a new position in Progressive during the 3rd quarter valued at about $25,000. WR Wealth Planners LLC boosted its position in Progressive by 119.6% during the 2nd quarter. WR Wealth Planners LLC now owns 123 shares of the insurance provider’s stock valued at $26,000 after acquiring an additional 67 shares in the last quarter. Hilltop National Bank grew its stake in shares of Progressive by 126.0% in the 2nd 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. grew its stake in shares of Progressive by 114.1% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 137 shares of the insurance provider’s stock worth $35,000 after buying an additional 73 shares during the last quarter. Finally, LRI Investments LLC purchased a new stake in shares of Progressive in the 1st quarter worth approximately $36,000. Hedge funds and other institutional investors own 85.34% of the company’s stock.

Progressive Price Performance

PGR stock traded up $0.16 during trading on Monday, reaching $261.68. The company’s stock had a trading volume of 104,310 shares, compared to its average volume of 2,462,113. The company has a market capitalization of $153.29 billion, a P/E ratio of 19.01, a price-to-earnings-growth ratio of 0.72 and a beta of 0.36. The company’s fifty day moving average is $251.41 and its 200-day moving average is $228.33. The company has a quick ratio of 0.31, a current ratio of 0.30 and a debt-to-equity ratio of 0.25. The Progressive Co. has a 1 year low of $149.14 and a 1 year high of $263.85.

Progressive (NYSE:PGR) last issued its quarterly earnings data on Tuesday, October 15th. The insurance provider reported $3.58 earnings per share for the quarter, beating analysts’ consensus estimates of $3.40 by $0.18. The firm had revenue of $19.43 billion during the quarter, compared to analyst estimates of $18.95 billion. Progressive had a return on equity of 33.10% and a net margin of 11.27%. On average, research analysts expect that The Progressive Co. will post 13.15 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms recently weighed in on PGR. Roth Mkm upped their price target on Progressive from $270.00 to $290.00 and gave the stock a “buy” rating in a research note on Monday, September 16th. The Goldman Sachs Group increased their target price on Progressive from $262.00 to $280.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. StockNews.com cut Progressive from a “buy” rating to a “hold” rating in a report on Friday, November 1st. Jefferies Financial Group increased their price target on Progressive from $257.00 to $295.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Finally, JPMorgan Chase & Co. increased their price target on Progressive from $242.00 to $251.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Seven research 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 company. According to MarketBeat.com, Progressive has a consensus rating of “Moderate Buy” and a consensus target price of $269.56.

Insider Buying and Selling

In related news, insider Steven Broz sold 2,981 shares of Progressive stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $251.15, for a total value of $748,678.15. Following the completion of the transaction, the insider now owns 26,353 shares in the company, valued at approximately $6,618,555.95. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, insider Steven Broz sold 2,981 shares of Progressive stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $251.15, for a total value of $748,678.15. Following the completion of the transaction, the insider now owns 26,353 shares in the company, valued at approximately $6,618,555.95. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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 completion of the sale, the insider now directly owns 45,787 shares of the company’s stock, valued at approximately $10,874,412.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 74,843 shares of company stock worth $18,674,912. Corporate 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.