V Wealth Management LLC Acquires 884 Shares of Progressive Corp (PGR)

V Wealth Management LLC grew its holdings in shares of Progressive Corp (NYSE:PGR) by 3.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 25,842 shares of the insurance provider’s stock after purchasing an additional 884 shares during the quarter. V Wealth Management LLC’s holdings in Progressive were worth $1,839,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Capital Advisors Ltd. LLC raised its holdings in Progressive by 409.1% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 1,400 shares of the insurance provider’s stock worth $105,000 after acquiring an additional 1,125 shares during the period. ELM Advisors LLC bought a new position in Progressive in the 3rd quarter worth $107,000. Trust Co. of Vermont raised its holdings in Progressive by 82.4% in the 2nd quarter. Trust Co. of Vermont now owns 2,006 shares of the insurance provider’s stock worth $119,000 after acquiring an additional 906 shares during the period. Cerebellum GP LLC bought a new position in Progressive in the 2nd quarter worth $168,000. Finally, Migdal Insurance & Financial Holdings Ltd. raised its holdings in Progressive by 8,571.8% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,382 shares of the insurance provider’s stock worth $200,000 after acquiring an additional 3,343 shares during the period. Institutional investors and hedge funds own 79.85% of the company’s stock.

NYSE PGR opened at $70.29 on Wednesday. The company has a current ratio of 0.38, a quick ratio of 0.43 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $39.67 billion, a price-to-earnings ratio of 26.73, a P/E/G ratio of 1.96 and a beta of 0.67. Progressive Corp has a 52-week low of $48.59 and a 52-week high of $72.72.



Progressive (NYSE:PGR) last posted its quarterly earnings results on Tuesday, October 16th. The insurance provider reported $1.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.43. Progressive had a net margin of 9.42% and a return on equity of 27.25%. The company had revenue of $8.60 billion for the quarter, compared to analyst estimates of $8.43 billion. During the same period last year, the business posted $0.38 EPS. The business’s quarterly revenue was up 20.5% on a year-over-year basis. Research analysts forecast that Progressive Corp will post 4.8 EPS for the current fiscal year.

In other news, CEO Susan Patricia Griffith sold 12,600 shares of Progressive stock in a transaction dated Thursday, August 16th. The shares were sold at an average price of $64.14, for a total transaction of $808,164.00. Following the sale, the chief executive officer now directly owns 265,856 shares in the company, valued at approximately $17,052,003.84. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO John P. Sauerland sold 12,000 shares of Progressive stock in a transaction dated Thursday, August 16th. The shares were sold at an average price of $64.25, for a total transaction of $771,000.00. Following the sale, the chief financial officer now owns 390,584 shares in the company, valued at $25,095,022. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 124,600 shares of company stock worth $8,325,164. 0.70% of the stock is owned by company insiders.

Several research analysts recently commented on the stock. B. Riley lifted their target price on shares of Progressive from $60.00 to $68.00 and gave the stock a “neutral” rating in a report on Tuesday, August 7th. Argus upgraded shares of Progressive from a “hold” rating to a “buy” rating and set a $68.00 price target on the stock in a research report on Friday, July 27th. UBS Group raised their price target on shares of Progressive from $70.00 to $78.00 and gave the stock a “buy” rating in a research report on Wednesday, September 19th. Zacks Investment Research lowered shares of Progressive from a “buy” rating to a “hold” rating in a research report on Wednesday, September 19th. Finally, Credit Suisse Group initiated coverage on shares of Progressive in a research report on Tuesday, August 7th. They issued an “outperform” rating and a $73.00 price target on the stock. One analyst has rated the stock with a sell rating, six have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $68.64.

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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