The Progressive Co. (NYSE:PGR) Shares Sold by Cable Hill Partners LLC

Cable Hill Partners LLC decreased its holdings in shares of The Progressive Co. (NYSE:PGR) by 10.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,412 shares of the insurance provider’s stock after selling 172 shares during the period. Cable Hill Partners LLC’s holdings in Progressive were worth $358,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Davis Capital Management acquired a new stake in shares of Progressive in the third quarter valued at about $25,000. WR Wealth Planners LLC increased its stake in Progressive by 119.6% during the 2nd 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 raised its holdings 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 acquiring an additional 92 shares during the last quarter. DiNuzzo Private Wealth Inc. lifted 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 in the last quarter. Finally, LRI Investments LLC acquired a new stake in shares of Progressive in the first quarter worth approximately $36,000. Institutional investors and hedge funds own 85.34% of the company’s stock.

Progressive Price Performance

Progressive stock opened at $261.37 on Thursday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.30 and a current ratio of 0.30. The company has a market capitalization of $153.11 billion, a price-to-earnings ratio of 18.99, a price-to-earnings-growth ratio of 0.73 and a beta of 0.36. The company’s 50 day simple moving average is $251.77 and its 200-day simple moving average is $229.06. The Progressive Co. has a 1 year low of $149.14 and a 1 year high of $263.85.

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

Analysts Set New Price Targets

PGR has been the subject of several recent research reports. Bank of America increased their price objective on Progressive from $319.00 to $331.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. The Goldman Sachs Group boosted their price target on shares of Progressive from $262.00 to $280.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Citigroup dropped their price objective on shares of Progressive from $232.00 to $225.00 and set a “neutral” rating for the company in a research note on Wednesday, July 17th. StockNews.com lowered shares of Progressive from a “buy” rating to a “hold” rating in a research note on Monday. Finally, Morgan Stanley upped their price target on Progressive from $300.00 to $310.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. Seven analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Progressive presently has an average rating of “Moderate Buy” and a consensus price target of $269.56.

Insider Buying and Selling

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 transaction, the insider now directly owns 29,334 shares of the company’s stock, valued at $7,626,840. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, CEO Susan Patricia Griffith sold 43,370 shares of the stock in a transaction 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 sale, the chief executive officer now directly owns 473,735 shares in the company, valued at approximately $119,475,967. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Steven Broz sold 2,982 shares of the business’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $260.00, for a total value of $775,320.00. Following the transaction, the insider now directly owns 29,334 shares of the company’s stock, valued at $7,626,840. 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 have sold 65,331 shares of company stock valued at $16,415,812. Corporate insiders own 0.34% of the company’s stock.

Progressive 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.