ASB Consultores LLC Sells 138 Shares of The Progressive Co. (NYSE:PGR)

by · The Cerbat Gem

ASB Consultores LLC lowered its stake in The Progressive Co. (NYSE:PGR – Free Report) by 3.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,882 shares of the insurance provider’s stock after selling 138 shares during the period. ASB Consultores LLC’s holdings in Progressive were worth $985,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of PGR. Davis Capital Management bought a new position in Progressive in the 3rd quarter valued at about $25,000. WR Wealth Planners LLC increased its stake in Progressive by 119.6% in the second quarter. WR Wealth Planners LLC now owns 123 shares of the insurance provider’s stock valued at $26,000 after acquiring an additional 67 shares during the last quarter. Hilltop National Bank raised its position in Progressive by 126.0% during the second quarter. Hilltop National Bank now owns 165 shares of the insurance provider’s stock valued at $34,000 after purchasing an additional 92 shares in the last quarter. DiNuzzo Private Wealth Inc. lifted its stake in Progressive by 114.1% during the third quarter. DiNuzzo Private Wealth Inc. now owns 137 shares of the insurance provider’s stock worth $35,000 after purchasing an additional 73 shares during the last quarter. Finally, LRI Investments LLC acquired a new stake in shares of Progressive in the 1st quarter valued at $36,000. Institutional investors and hedge funds own 85.34% of the company’s stock.

Insiders Place Their Bets

In other news, insider Steven Broz sold 2,981 shares of the stock in a transaction 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 $6,618,555.95. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider John Jo Murphy sold 9,512 shares of Progressive stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $237.50, for a total value of $2,259,100.00. Following the completion of the sale, the insider now owns 45,787 shares in the company, valued at $10,874,412.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Steven Broz sold 2,981 shares of the stock in a transaction on Monday, October 21st. The stock was sold at an average price of $251.15, for a total transaction of $748,678.15. Following the transaction, the insider now directly owns 26,353 shares in the company, valued at approximately $6,618,555.95. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 74,843 shares of company stock worth $18,674,912. 0.34% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

PGR has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods boosted their price target on Progressive from $280.00 to $290.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. BMO Capital Markets dropped their target price on shares of Progressive from $239.00 to $237.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. Piper Sandler lifted their price target on shares of Progressive from $250.00 to $252.00 and gave the company an “overweight” rating in a report on Thursday, August 15th. Morgan Stanley upped their price objective on shares of Progressive from $300.00 to $310.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. Finally, HSBC raised shares of Progressive from a “hold” rating to a “buy” rating and set a $253.00 target price on the stock in a research note on Monday, August 12th. Seven research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $263.19.

Check Out Our Latest Stock Analysis on PGR

Progressive Price Performance

Shares of PGR opened at $241.48 on Tuesday. The business has a 50-day moving average of $250.86 and a 200-day moving average of $227.13. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.31 and a quick ratio of 0.31. The company has a market capitalization of $141.43 billion, a price-to-earnings ratio of 17.55, a price-to-earnings-growth ratio of 0.67 and a beta of 0.36. The Progressive Co. has a 1 year low of $149.14 and a 1 year high of $260.46.

About Progressive

(Free Report)

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.

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