The Progressive Co. (NYSE:PGR) Shares Sold by First National Bank of Mount Dora Trust Investment Services

First National Bank of Mount Dora Trust Investment Services lowered its holdings in shares of The Progressive Co. (NYSE:PGR) by 6.0% during the third quarter, HoldingsChannel.com reports. The firm owned 32,919 shares of the insurance provider’s stock after selling 2,084 shares during the period. Progressive makes up approximately 1.9% of First National Bank of Mount Dora Trust Investment Services’ holdings, making the stock its 13th largest holding. First National Bank of Mount Dora Trust Investment Services’ holdings in Progressive were worth $8,354,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Davis Capital Management purchased a new position in shares of Progressive during the 3rd quarter valued at approximately $25,000. WR Wealth Planners LLC grew its position in shares of 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 purchasing an additional 67 shares during the period. Hilltop National Bank increased its stake in shares of Progressive by 126.0% during the second quarter. Hilltop National Bank now owns 165 shares of the insurance provider’s stock worth $34,000 after purchasing an additional 92 shares in the last quarter. DiNuzzo Private Wealth Inc. raised its position in shares of Progressive by 114.1% during the 3rd 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 purchased a new position in Progressive in the 1st quarter valued at about $36,000. 85.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Morgan Stanley increased their target price on Progressive from $300.00 to $310.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Jefferies Financial Group increased their price objective on Progressive from $257.00 to $295.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Wells Fargo & Company upped their target price on shares of Progressive from $281.00 to $282.00 and gave the stock an “overweight” rating in a report on Tuesday, September 10th. Evercore ISI raised their price target on shares of Progressive from $243.00 to $246.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Finally, Hsbc Global Res raised shares of Progressive from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 12th. Seven equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $263.19.

Insiders Place Their Bets

In related news, CEO Susan Patricia Griffith sold 43,370 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $252.20, for a total transaction of $10,937,914.00. Following the transaction, the chief executive officer now owns 473,735 shares in the company, valued at $119,475,967. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Progressive news, insider Steven Broz sold 6,122 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $235.19, for a total value of $1,439,833.18. Following the completion of the sale, the insider now owns 32,316 shares of the company’s stock, valued at approximately $7,600,400.04. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Susan Patricia Griffith sold 43,370 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $252.20, for a total transaction of $10,937,914.00. Following the sale, the chief executive officer now directly owns 473,735 shares in the company, valued at approximately $119,475,967. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 74,843 shares of company stock valued at $18,674,912. 0.34% of the stock is owned by corporate insiders.

Progressive Stock Down 0.7 %

Shares of Progressive stock traded down $1.61 during trading on Monday, hitting $241.11. 568,417 shares of the stock were exchanged, compared to its average volume of 2,460,977. The Progressive Co. has a 12-month low of $149.14 and a 12-month high of $260.46. 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 stock has a market cap of $141.21 billion, a price-to-earnings ratio of 17.64, a price-to-earnings-growth ratio of 0.67 and a beta of 0.36. The firm’s 50-day moving average price is $250.88 and its 200 day moving average price is $226.91.

Progressive Company 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.