Prime Capital Investment Advisors LLC Purchases 718 Shares of Progressive Corp (NYSE:PGR)

Prime Capital Investment Advisors LLC boosted its stake in Progressive Corp (NYSE:PGR) by 47.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,227 shares of the insurance provider’s stock after purchasing an additional 718 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Progressive were worth $172,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of PGR. Weatherly Asset Management L. P. raised its position in Progressive by 3.1% in the second quarter. Weatherly Asset Management L. P. now owns 4,361 shares of the insurance provider’s stock worth $349,000 after acquiring an additional 131 shares during the period. Archford Capital Strategies LLC boosted its stake in shares of Progressive by 49.5% in the 2nd quarter. Archford Capital Strategies LLC now owns 408 shares of the insurance provider’s stock valued at $33,000 after purchasing an additional 135 shares in the last quarter. Cornerstone Advisors Inc. boosted its stake in shares of Progressive by 5.4% in the 2nd quarter. Cornerstone Advisors Inc. now owns 2,740 shares of the insurance provider’s stock valued at $219,000 after purchasing an additional 141 shares in the last quarter. TRUE Private Wealth Advisors boosted its stake in shares of Progressive by 3.5% in the 2nd quarter. TRUE Private Wealth Advisors now owns 4,254 shares of the insurance provider’s stock valued at $340,000 after purchasing an additional 144 shares in the last quarter. Finally, Eukles Asset Management boosted its stake in shares of Progressive by 2.2% in the 3rd quarter. Eukles Asset Management now owns 7,253 shares of the insurance provider’s stock valued at $560,000 after purchasing an additional 155 shares in the last quarter. Institutional investors and hedge funds own 78.46% of the company’s stock.

Shares of NYSE:PGR traded down $2.41 during midday trading on Wednesday, reaching $72.05. The company’s stock had a trading volume of 144,354 shares, compared to its average volume of 3,092,603. The firm has a 50 day moving average of $73.00 and a 200-day moving average of $77.36. The firm has a market capitalization of $43.07 billion, a P/E ratio of 16.31, a PEG ratio of 1.87 and a beta of 0.65. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.32. Progressive Corp has a 12-month low of $56.71 and a 12-month high of $84.96.

Progressive (NYSE:PGR) last released its earnings results on Thursday, November 7th. The insurance provider reported $1.33 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.30 by $0.03. Progressive had a net margin of 8.69% and a return on equity of 26.09%. On average, research analysts predict that Progressive Corp will post 5.37 EPS for the current year.

A number of equities research analysts recently commented on PGR shares. Buckingham Research upped their price target on shares of Progressive from $74.00 to $78.00 and gave the company a “neutral” rating in a report on Thursday, September 12th. Wells Fargo & Co reiterated a “hold” rating and set a $76.00 price target on shares of Progressive in a report on Thursday, November 7th. Evercore ISI started coverage on shares of Progressive in a report on Thursday, October 17th. They set an “in-line” rating and a $78.00 price target for the company. UBS Group upped their price target on shares of Progressive from $88.00 to $95.00 and gave the company a “buy” rating in a report on Monday, July 29th. Finally, Raymond James set a $93.00 price target on shares of Progressive and gave the company a “buy” rating in a report on Thursday, September 26th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $82.64.

In other news, CEO Susan Patricia Griffith sold 22,500 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $76.47, for a total transaction of $1,720,575.00. Following the sale, the chief executive officer now owns 352,795 shares of the company’s stock, valued at approximately $26,978,233.65. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Steven Broz sold 5,000 shares of the firm’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $70.84, for a total transaction of $354,200.00. Following the sale, the insider now directly owns 25,295 shares in the company, valued at approximately $1,791,897.80. The disclosure for this sale can be found here. Insiders have sold a total of 39,500 shares of company stock worth $3,005,735 over the last three months. 0.39% of the stock is currently owned by insiders.

Progressive Profile

The Progressive Corporation, through its subsidiaries, provides personal and commercial auto insurance, residential property insurance, and other specialty property-casualty insurance and related services primarily in the United States. Its Personal Lines segment writes insurance for personal autos, and recreational and other vehicles.

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Institutional Ownership by Quarter for Progressive (NYSE:PGR)

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