Wealthstream Advisors Inc. Makes New $204,000 Investment in The Progressive Co. (NYSE:PGR)

Wealthstream Advisors Inc. acquired a new position in shares of The Progressive Co. (NYSE:PGR) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 803 shares of the insurance provider’s stock, valued at approximately $204,000.

Several other large investors have also modified their holdings of the stock. Raleigh Capital Management Inc. boosted its stake in Progressive by 20.9% in the third quarter. Raleigh Capital Management Inc. now owns 237 shares of the insurance provider’s stock valued at $60,000 after acquiring an additional 41 shares in the last quarter. Castleview Partners LLC boosted its position in shares of Progressive by 2.7% in 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 during the period. Washington Trust Bank grew its stake in Progressive by 4.6% during the 3rd quarter. Washington Trust Bank now owns 1,024 shares of the insurance provider’s stock worth $260,000 after buying an additional 45 shares during the last quarter. Sunbelt Securities Inc. increased its position in Progressive by 21.3% during the second quarter. Sunbelt Securities Inc. now owns 262 shares of the insurance provider’s stock worth $54,000 after buying an additional 46 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of Progressive by 11.8% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 455 shares of the insurance provider’s stock valued at $95,000 after acquiring an additional 48 shares during the period. Institutional investors and hedge funds own 85.34% of the company’s stock.

Insider Activity at Progressive

In other Progressive news, insider Steven Broz sold 2,982 shares of Progressive stock in a transaction dated Monday, September 23rd. The stock was 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 owns 29,334 shares in the company, valued at $7,626,840. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Susan Patricia Griffith sold 43,370 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 473,735 shares in the company, valued at $119,475,967. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Steven Broz sold 2,982 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $260.00, for a total transaction of $775,320.00. Following the sale, the insider now directly owns 29,334 shares of the company’s stock, valued at approximately $7,626,840. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 65,331 shares of company stock worth $16,415,812. 0.34% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts recently commented on PGR shares. BMO Capital Markets reduced their price target on shares of Progressive from $239.00 to $237.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. Bank of America increased their target price on shares of Progressive from $319.00 to $331.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. TD Cowen upped their price objective on Progressive from $197.00 to $237.00 and gave the company a “hold” rating in a research note on Friday, November 8th. Piper Sandler lifted their price objective on shares of Progressive from $250.00 to $252.00 and gave the company an “overweight” rating in a research report on Thursday, August 15th. Finally, StockNews.com cut Progressive from a “buy” rating to a “hold” rating in a report on Monday. 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. Based on data from MarketBeat.com, Progressive presently has an average rating of “Moderate Buy” and a consensus target price of $269.56.

Progressive Stock Performance

Shares of NYSE PGR opened at $261.37 on Thursday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.30 and a quick ratio of 0.30. The company has a market cap of $153.11 billion, a PE ratio of 18.99, a price-to-earnings-growth ratio of 0.73 and a beta of 0.36. The company has a 50-day simple moving average of $251.92 and a 200-day simple moving average of $229.29. The Progressive Co. has a 12 month low of $149.14 and a 12 month high of $263.85.

Progressive (NYSE:PGR) last released its earnings results on Tuesday, October 15th. The insurance provider reported $3.58 EPS for the quarter, topping the consensus estimate of $3.40 by $0.18. Progressive had a net margin of 11.27% and a return on equity of 33.10%. The firm had revenue of $19.43 billion during the quarter, compared to analysts’ expectations of $18.95 billion. On average, equities 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.