First Heartland Consultants Inc. Boosts Stake in The Progressive Co. (NYSE:PGR)

First Heartland Consultants Inc. increased its position in The Progressive Co. (NYSE:PGR) by 3.6% in the 3rd quarter, Holdings Channel reports. The firm owned 2,253 shares of the insurance provider’s stock after buying an additional 79 shares during the period. First Heartland Consultants Inc.’s holdings in Progressive were worth $572,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Cumberland Partners Ltd increased its position in Progressive by 116.7% during the 3rd quarter. Cumberland Partners Ltd now owns 6,500 shares of the insurance provider’s stock worth $1,649,000 after purchasing an additional 3,500 shares during the period. Aigen Investment Management LP grew its holdings in shares of Progressive by 57.0% in the 3rd quarter. Aigen Investment Management LP now owns 11,739 shares of the insurance provider’s stock worth $2,979,000 after acquiring an additional 4,262 shares during the period. Prime Capital Investment Advisors LLC grew its holdings in Progressive by 1.7% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 5,577 shares of the insurance provider’s stock valued at $1,415,000 after buying an additional 93 shares during the last quarter. Savvy Advisors Inc. acquired a new stake in Progressive during the 3rd quarter valued at $593,000. Finally, Rakuten Securities Inc. grew its holdings in Progressive by 642.0% during the 3rd quarter. Rakuten Securities Inc. now owns 371 shares of the insurance provider’s stock valued at $94,000 after buying an additional 321 shares during the last quarter. 85.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PGR has been the topic of a number of recent analyst reports. Evercore ISI increased their price target on Progressive from $277.00 to $285.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. Morgan Stanley increased their price target on Progressive from $300.00 to $310.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Keefe, Bruyette & Woods increased their price target on Progressive from $280.00 to $290.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Roth Mkm increased their price target on Progressive from $270.00 to $290.00 and gave the stock a “buy” rating in a research note on Monday, September 16th. Finally, TD Cowen increased their target price on Progressive from $197.00 to $237.00 and gave the stock a “hold” rating in a research report on Friday, November 8th. Seven analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Progressive presently has an average rating of “Moderate Buy” and a consensus price target of $269.56.

Insider Activity

In related news, insider John Jo Murphy sold 9,512 shares of Progressive stock in a transaction dated 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 completion of the transaction, the insider now directly owns 45,787 shares in the company, valued at approximately $10,874,412.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider John Jo Murphy sold 9,512 shares of Progressive stock in a transaction dated 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 completion of the transaction, the insider now directly owns 45,787 shares in the company, valued at approximately $10,874,412.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Dyke Kahina Van sold 2,180 shares of Progressive stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $252.28, for a total value of $549,970.40. Following the completion of the transaction, the director now owns 13,723 shares of the company’s stock, valued at $3,462,038.44. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 74,843 shares of company stock worth $18,674,912 over the last ninety days. Corporate insiders own 0.34% of the company’s stock.

Progressive Stock Up 0.9 %

Shares of Progressive stock opened at $262.29 on Wednesday. The business has a 50-day moving average of $251.57 and a 200-day moving average of $228.68. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.30 and a quick ratio of 0.30. The company has a market capitalization of $153.65 billion, a PE ratio of 19.06, a P/E/G ratio of 0.72 and a beta of 0.36. 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 for the quarter, beating the consensus estimate of $3.40 by $0.18. The company had revenue of $19.43 billion during the quarter, compared to the consensus estimate of $18.95 billion. Progressive had a return on equity of 33.10% and a net margin of 11.27%. As a group, equities analysts forecast that The Progressive Co. will post 13.15 EPS for the current fiscal year.

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.