Prime Capital Investment Advisors LLC Purchases 93 Shares of The Progressive Co. (NYSE:PGR)

Prime Capital Investment Advisors LLC raised its holdings in shares of The Progressive Co. (NYSE:PGR) by 1.7% during the 3rd quarter, Holdings Channel.com reports. The firm owned 5,577 shares of the insurance provider’s stock after acquiring an additional 93 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Progressive were worth $1,415,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Davis Capital Management purchased a new position in shares of Progressive in the third quarter valued at $25,000. WR Wealth Planners LLC grew 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 valued at $26,000 after buying an additional 67 shares in the last quarter. Hilltop National Bank increased its position in shares of Progressive by 126.0% during the second quarter. Hilltop National Bank now owns 165 shares of the insurance provider’s stock valued at $34,000 after buying an additional 92 shares during the period. DiNuzzo Private Wealth Inc. boosted its position 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 acquiring an additional 73 shares during the period. Finally, LRI Investments LLC purchased a new position in shares of Progressive during the 1st quarter valued at $36,000. Institutional investors own 85.34% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PGR. Roth Mkm lifted their price target on Progressive from $270.00 to $290.00 and gave the company a “buy” rating in a research report on Monday, September 16th. BMO Capital Markets cut their price target on shares of Progressive from $239.00 to $237.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. HSBC upgraded shares of Progressive from a “hold” rating to a “buy” rating and set a $253.00 price objective on the stock in a research report on Monday, August 12th. TD Cowen upped their target price on shares of Progressive from $197.00 to $237.00 and gave the stock a “hold” rating in a research report on Friday, November 8th. Finally, Evercore ISI raised their price target on Progressive from $277.00 to $285.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. Seven analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Progressive has a consensus rating of “Moderate Buy” and an average price target of $269.56.

Insiders Place Their Bets

In other Progressive news, Director Dyke Kahina Van sold 2,180 shares of the firm’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $252.28, for a total value of $549,970.40. Following the completion of the sale, the director now directly owns 13,723 shares in the company, valued at $3,462,038.44. This trade represents a 13.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Susan Patricia Griffith sold 43,370 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 473,735 shares in the company, valued at $119,475,967. This trade represents a 8.39 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 65,331 shares of company stock worth $16,415,812. 0.34% of the stock is currently owned by company insiders.

Progressive Stock Down 1.5 %

Shares of NYSE PGR opened at $257.47 on Friday. The company has a market cap of $150.83 billion, a price-to-earnings ratio of 18.67, a PEG ratio of 0.73 and a beta of 0.36. 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 firm’s fifty day moving average is $251.92 and its 200 day moving average is $229.29. The Progressive Co. has a 52 week low of $149.14 and a 52 week high of $263.85.

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

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.