The Progressive Co. (NYSE:PGR) Stock Holdings Decreased by First Western Trust Bank

First Western Trust Bank decreased its stake in shares of The Progressive Co. (NYSE:PGR) by 9.5% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 6,286 shares of the insurance provider’s stock after selling 662 shares during the quarter. First Western Trust Bank’s holdings in Progressive were worth $1,595,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of PGR. Covestor Ltd increased its holdings in shares of Progressive by 216.3% in the 1st quarter. Covestor Ltd now owns 639 shares of the insurance provider’s stock valued at $132,000 after acquiring an additional 437 shares during the last quarter. Trustmark National Bank Trust Department acquired a new stake in Progressive during the first quarter worth about $236,000. O Shaughnessy Asset Management LLC lifted its holdings in Progressive by 11.7% in the first quarter. O Shaughnessy Asset Management LLC now owns 52,969 shares of the insurance provider’s stock worth $10,955,000 after acquiring an additional 5,557 shares during the last quarter. Seven Eight Capital LP acquired a new position in Progressive in the first quarter valued at approximately $568,000. Finally, UniSuper Management Pty Ltd grew its holdings in shares of Progressive by 168.3% during the first quarter. UniSuper Management Pty Ltd now owns 12,644 shares of the insurance provider’s stock valued at $2,615,000 after purchasing an additional 7,932 shares during the last quarter. 85.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on PGR. StockNews.com lowered Progressive from a “buy” rating to a “hold” rating in a research report on Monday, November 11th. Barclays boosted their target price on shares of Progressive from $267.00 to $277.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 23rd. Hsbc Global Res upgraded shares of Progressive from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 12th. BMO Capital Markets cut their price target on Progressive from $239.00 to $237.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. Finally, Piper Sandler increased their price objective on Progressive from $250.00 to $252.00 and gave the stock an “overweight” rating in a report on Thursday, August 15th. Six investment 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 company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $269.56.

Progressive Stock Performance

Shares of NYSE PGR opened at $255.78 on Monday. The stock’s fifty day simple moving average is $252.22 and its 200 day simple moving average is $230.10. The stock has a market capitalization of $149.84 billion, a price-to-earnings ratio of 18.59, a PEG ratio of 0.71 and a beta of 0.36. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.25. The Progressive Co. has a 52-week low of $149.14 and a 52-week high of $263.85.

Progressive (NYSE:PGR) last posted its quarterly earnings data on Tuesday, October 15th. The insurance provider reported $3.58 EPS 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, sell-side analysts forecast that The Progressive Co. will post 13.09 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Progressive news, Director Dyke Kahina Van sold 2,180 shares of the stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $252.28, for a total value of $549,970.40. Following the completion of the sale, the director now owns 13,723 shares in the company, valued at $3,462,038.44. This represents a 13.71 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Steven Broz sold 2,982 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $260.00, for a total transaction of $775,320.00. Following the transaction, the insider now owns 29,334 shares in the company, valued at approximately $7,626,840. This represents 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 59,209 shares of company stock worth $14,975,979. 0.34% of the stock is currently owned by company insiders.

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.