Bensler LLC Has $15.29 Million Stake in The Progressive Co. (NYSE:PGR)

Bensler LLC grew its stake in The Progressive Co. (NYSE:PGR) by 3.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 60,252 shares of the insurance provider’s stock after purchasing an additional 2,287 shares during the period. Progressive comprises approximately 1.9% of Bensler LLC’s investment portfolio, making the stock its 16th largest position. Bensler LLC’s holdings in Progressive were worth $15,289,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Davis Capital Management bought a new stake in shares of Progressive in the 3rd quarter valued at $25,000. WR Wealth Planners LLC increased its stake in shares of Progressive by 119.6% in the 2nd quarter. WR Wealth Planners LLC now owns 123 shares of the insurance provider’s stock valued at $26,000 after acquiring an additional 67 shares in the last quarter. Hilltop National Bank increased its stake in shares of Progressive by 126.0% in the 2nd quarter. Hilltop National Bank now owns 165 shares of the insurance provider’s stock valued at $34,000 after acquiring an additional 92 shares in the last quarter. DiNuzzo Private Wealth Inc. increased its stake in shares of Progressive by 114.1% in the 3rd 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 bought a new stake in shares of Progressive in the 1st quarter valued at $36,000. 85.34% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently weighed in on PGR shares. StockNews.com lowered shares of Progressive from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. JPMorgan Chase & Co. lifted their price objective on shares of Progressive from $242.00 to $251.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Keefe, Bruyette & Woods boosted their price target on shares of Progressive from $280.00 to $290.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Barclays boosted their price objective on Progressive from $267.00 to $277.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 23rd. Finally, Jefferies Financial Group boosted their price objective on Progressive from $257.00 to $295.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. 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. Based on data from MarketBeat, Progressive presently has an average rating of “Moderate Buy” and a consensus price target of $265.63.

Progressive Price Performance

Shares of PGR stock opened at $255.27 on Friday. The Progressive Co. has a twelve month low of $149.14 and a twelve month high of $260.46. The stock has a market capitalization of $149.50 billion, a price-to-earnings ratio of 18.55, a P/E/G ratio of 0.67 and a beta of 0.36. The stock has a fifty day simple moving average of $251.12 and a two-hundred day simple moving average of $227.59. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.30.

Progressive (NYSE:PGR) last released its quarterly 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 return on equity of 35.21% and a net margin of 11.27%. The firm had revenue of $19.43 billion during the quarter, compared to analyst estimates of $18.95 billion. On average, analysts predict that The Progressive Co. will post 13.15 EPS for the current fiscal year.

Insider Activity

In other news, CEO Susan Patricia Griffith sold 43,370 shares of the 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 of the company’s stock, valued at approximately $119,475,967. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider John Jo Murphy sold 9,512 shares of Progressive stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $237.50, for a total value of $2,259,100.00. Following the sale, the insider now directly owns 45,787 shares of the company’s stock, valued at $10,874,412.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Susan Patricia Griffith sold 43,370 shares of Progressive 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 completion of the sale, the chief executive officer now directly owns 473,735 shares in the company, valued at $119,475,967. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 74,843 shares of company stock valued at $18,674,912. Company 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.