Focused Wealth Management Inc Purchases New Holdings in The Progressive Co. (NYSE:PGR)

Focused Wealth Management Inc acquired a new position in shares of The Progressive Co. (NYSE:PGR) during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund acquired 511 shares of the insurance provider’s stock, valued at approximately $130,000.

A number of other institutional investors also recently made changes to their positions in the business. Davis Capital Management bought a new position in Progressive during the 3rd quarter valued at $25,000. WR Wealth Planners LLC raised its stake in Progressive by 119.6% during the second quarter. WR Wealth Planners LLC now owns 123 shares of the insurance provider’s stock valued at $26,000 after buying an additional 67 shares in the last quarter. Hilltop National Bank lifted its holdings in Progressive by 126.0% during the 2nd quarter. Hilltop National Bank now owns 165 shares of the insurance provider’s stock worth $34,000 after buying an additional 92 shares during the last quarter. DiNuzzo Private Wealth Inc. grew its position 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 worth $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 approximately $36,000. 85.34% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Progressive

In related news, Director Dyke Kahina Van sold 2,180 shares of the business’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $252.28, for a total transaction of $549,970.40. Following the sale, the director now owns 13,723 shares of the company’s stock, valued at $3,462,038.44. The trade was 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 available at the SEC website. In related news, CEO Susan Patricia Griffith sold 43,370 shares of the business’s 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 sale, the chief executive officer now directly owns 473,735 shares in the company, valued at $119,475,967. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Dyke Kahina Van sold 2,180 shares of the firm’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $252.28, for a total transaction of $549,970.40. Following the sale, the director now owns 13,723 shares of the company’s stock, valued at $3,462,038.44. 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 three months, insiders sold 74,843 shares of company stock valued at $18,674,912. Company insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on PGR shares. StockNews.com cut Progressive from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. Barclays increased their price objective on shares of Progressive from $267.00 to $277.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 23rd. Hsbc Global Res upgraded Progressive from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 12th. Keefe, Bruyette & Woods upped their target price on Progressive from $280.00 to $290.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Finally, Piper Sandler raised their price target on Progressive from $250.00 to $252.00 and gave the stock an “overweight” rating in a report on Thursday, August 15th. Seven equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $263.19.

Progressive Stock Performance

PGR stock opened at $248.07 on Wednesday. The company has a market capitalization of $145.29 billion, a P/E ratio of 18.03, a PEG ratio of 0.67 and a beta of 0.36. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.30. The company has a 50-day simple moving average of $250.91 and a 200 day simple moving average of $227.37. The Progressive Co. has a fifty-two week low of $149.14 and a fifty-two week high of $260.46.

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.