IHT Wealth Management LLC Has $1.20 Million Stake in The Progressive Co. (NYSE:PGR)

IHT Wealth Management LLC lifted its stake in shares of The Progressive Co. (NYSE:PGR) by 55.3% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 4,740 shares of the insurance provider’s stock after acquiring an additional 1,687 shares during the period. IHT Wealth Management LLC’s holdings in Progressive were worth $1,204,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Davis Capital Management bought a new position in shares of Progressive during the 3rd quarter worth about $25,000. WR Wealth Planners LLC boosted its holdings in Progressive by 119.6% in the second quarter. WR Wealth Planners LLC now owns 123 shares of the insurance provider’s stock worth $26,000 after acquiring an additional 67 shares in the last quarter. DiNuzzo Private Wealth Inc. grew its stake in 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. Kimelman & Baird LLC bought a new stake in shares of Progressive during the second quarter valued at approximately $36,000. Finally, Sachetta LLC raised its position in shares of Progressive by 34.0% during the second quarter. Sachetta LLC now owns 209 shares of the insurance provider’s stock worth $45,000 after purchasing an additional 53 shares during the period. 85.34% of the stock is owned by institutional investors.

Progressive Stock Up 0.4 %

PGR stock opened at $261.28 on Friday. The Progressive Co. has a fifty-two week low of $149.14 and a fifty-two week high of $270.62. The stock has a fifty day moving average of $254.57 and a 200-day moving average of $234.80. The company has a market capitalization of $153.06 billion, a price-to-earnings ratio of 18.99, a PEG ratio of 0.73 and a beta of 0.38. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.30 and a current ratio of 0.30.

Progressive (NYSE:PGR) last issued its earnings results on Tuesday, October 15th. The insurance provider reported $3.58 earnings per share for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $18.95 billion. As a group, equities research analysts predict that The Progressive Co. will post 13.2 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Hsbc Global Res upgraded shares of Progressive from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 12th. The Goldman Sachs Group boosted their target price 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. Wells Fargo & Company lifted their price target on Progressive from $281.00 to $282.00 and gave the company an “overweight” rating in a research note on Tuesday, September 10th. JPMorgan Chase & Co. boosted their price objective on Progressive from $242.00 to $251.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Finally, Barclays lifted their target price on Progressive from $267.00 to $277.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 23rd. Five analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Progressive currently has a consensus rating of “Moderate Buy” and a consensus price target of $269.81.

Insider Activity at Progressive

In other Progressive news, insider Patrick K. Callahan sold 7,696 shares of Progressive stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $255.21, for a total transaction of $1,964,096.16. Following the completion of the transaction, the insider now owns 15,189 shares of the company’s stock, valued at $3,876,384.69. The trade was a 33.63 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Steven Broz sold 2,982 shares of the stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $260.00, for a total transaction of $775,320.00. Following the completion of the sale, the insider now directly owns 29,334 shares in the company, valued at approximately $7,626,840. The trade was a 9.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 25,839 shares of company stock worth $6,718,965. Corporate insiders own 0.34% of the company’s stock.

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.