Turtle Creek Wealth Advisors LLC Acquires Shares of 957 The Progressive Co. (NYSE:PGR)

Turtle Creek Wealth Advisors LLC bought a new position in The Progressive Co. (NYSE:PGR) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 957 shares of the insurance provider’s stock, valued at approximately $243,000.

A number of other institutional investors have also recently modified their holdings of PGR. Diversified Trust Co increased its stake in Progressive by 84.3% during the 3rd quarter. Diversified Trust Co now owns 25,738 shares of the insurance provider’s stock valued at $6,531,000 after purchasing an additional 11,770 shares in the last quarter. Sycomore Asset Management increased its position in shares of Progressive by 9.5% during the second quarter. Sycomore Asset Management now owns 28,128 shares of the insurance provider’s stock valued at $5,856,000 after acquiring an additional 2,450 shares in the last quarter. Sumitomo Life Insurance Co. purchased a new position in Progressive in the 2nd quarter worth approximately $981,000. Tidal Investments LLC lifted its position in Progressive by 22.2% in the 1st quarter. Tidal Investments LLC now owns 31,330 shares of the insurance provider’s stock valued at $6,480,000 after acquiring an additional 5,691 shares in the last quarter. Finally, Advisors Asset Management Inc. lifted its position in Progressive by 88.7% in the 1st quarter. Advisors Asset Management Inc. now owns 7,626 shares of the insurance provider’s stock valued at $1,577,000 after acquiring an additional 3,585 shares in the last quarter. 85.34% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Progressive

In related news, CEO Susan Patricia Griffith sold 43,370 shares of Progressive stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $252.20, for a total value of $10,937,914.00. Following the completion of the transaction, the chief executive officer now owns 473,735 shares in the company, valued at $119,475,967. The trade was a 8.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Steven Broz sold 2,981 shares of the stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 26,353 shares in the company, valued at approximately $6,618,555.95. This represents a 10.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 65,331 shares of company stock worth $16,415,812. Insiders own 0.34% of the company’s stock.

Progressive Trading Down 0.7 %

Progressive stock traded down $1.72 during mid-day trading on Friday, hitting $255.78. The company’s stock had a trading volume of 3,259,995 shares, compared to its average volume of 2,463,986. The Progressive Co. has a 1 year low of $149.14 and a 1 year high of $263.85. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $149.84 billion, a PE ratio of 18.59, a price-to-earnings-growth ratio of 0.73 and a beta of 0.36. The stock’s fifty day moving average is $252.22 and its two-hundred day moving average is $229.82.

Progressive (NYSE:PGR) last released its quarterly 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. The business had revenue of $19.43 billion during the quarter, compared to analysts’ expectations of $18.95 billion. Progressive had a return on equity of 33.10% and a net margin of 11.27%. On average, analysts anticipate that The Progressive Co. will post 13.11 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. BMO Capital Markets dropped their price objective on Progressive from $239.00 to $237.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. TD Cowen upped their target price on shares of Progressive from $197.00 to $237.00 and gave the company a “hold” rating in a research note on Friday, November 8th. Hsbc Global Res upgraded shares of Progressive from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 12th. Keefe, Bruyette & Woods increased their price objective on shares of Progressive from $280.00 to $290.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Finally, HSBC raised shares of Progressive from a “hold” rating to a “buy” rating and set a $253.00 target price for the company in a research report on Monday, August 12th. Seven investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Progressive currently has an average rating of “Moderate Buy” and a consensus price target of $269.56.

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.