Icon Wealth Advisors LLC Has $623,000 Holdings in The Progressive Co. (NYSE:PGR)

Icon Wealth Advisors LLC lifted its holdings in shares of The Progressive Co. (NYSE:PGR) by 2.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,457 shares of the insurance provider’s stock after buying an additional 65 shares during the quarter. Icon Wealth Advisors LLC’s holdings in Progressive were worth $623,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Virtu Financial LLC acquired a new position in shares of Progressive in the 1st quarter valued at $258,000. LRI Investments LLC bought a new stake in Progressive in the first quarter valued at about $36,000. Cetera Investment Advisers lifted its stake in Progressive by 259.1% in the first quarter. Cetera Investment Advisers now owns 67,074 shares of the insurance provider’s stock valued at $13,872,000 after buying an additional 48,397 shares during the period. Cetera Advisors LLC boosted its holdings in Progressive by 59.6% during the first quarter. Cetera Advisors LLC now owns 18,075 shares of the insurance provider’s stock worth $3,738,000 after buying an additional 6,752 shares during the last quarter. Finally, HM Payson & Co. grew its position in shares of Progressive by 207.1% during the 1st quarter. HM Payson & Co. now owns 989 shares of the insurance provider’s stock worth $205,000 after buying an additional 667 shares during the period. 85.34% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on PGR shares. Piper Sandler lifted their price objective on shares of Progressive from $250.00 to $252.00 and gave the stock an “overweight” rating in a research note on Thursday, August 15th. 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. Hsbc Global Res upgraded shares of Progressive from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 12th. Keefe, Bruyette & Woods lifted their target price on Progressive from $280.00 to $290.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Finally, Wells Fargo & Company increased their price target on Progressive from $281.00 to $282.00 and gave the stock an “overweight” rating in a report on Tuesday, September 10th. Five research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Progressive has a consensus rating of “Moderate Buy” and a consensus target price of $269.81.

Progressive Price Performance

NYSE PGR opened at $268.93 on Friday. The firm’s 50 day moving average is $254.08 and its 200-day moving average is $233.34. 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 company has a market capitalization of $157.54 billion, a PE ratio of 19.54, a price-to-earnings-growth ratio of 0.74 and a beta of 0.36. The Progressive Co. has a 12-month low of $149.14 and a 12-month high of $270.62.

Progressive (NYSE:PGR) last issued its quarterly earnings results on Tuesday, October 15th. The insurance provider reported $3.58 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analyst estimates of $18.95 billion. Equities research analysts anticipate that The Progressive Co. will post 13.2 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Progressive news, insider Steven Broz sold 2,981 shares of the company’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $251.15, for a total transaction of $748,678.15. Following the sale, the insider now directly owns 26,353 shares of the company’s stock, valued at approximately $6,618,555.95. This represents a 10.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, 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 completion of the sale, the chief executive officer now owns 473,735 shares of the company’s stock, valued at approximately $119,475,967. This represents a 8.39 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 59,209 shares of company stock worth $14,975,979. 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.