Confluence Wealth Services Inc. Sells 1,641 Shares of The Progressive Co. (NYSE:PGR)

Confluence Wealth Services Inc. trimmed its holdings in shares of The Progressive Co. (NYSE:PGR) by 64.2% during the third quarter, Holdings Channel.com reports. The fund owned 914 shares of the insurance provider’s stock after selling 1,641 shares during the quarter. Confluence Wealth Services Inc.’s holdings in Progressive were worth $232,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Cardinal Strategic Wealth Guidance bought a new position in shares of Progressive during the third quarter worth approximately $241,000. Invesco LLC increased its stake in Progressive by 2.2% during the 3rd quarter. Invesco LLC now owns 4,275 shares of the insurance provider’s stock worth $1,085,000 after acquiring an additional 90 shares during the period. Chicago Partners Investment Group LLC raised its holdings in Progressive by 17.1% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 1,308 shares of the insurance provider’s stock valued at $323,000 after acquiring an additional 191 shares in the last quarter. Weatherly Asset Management L. P. bought a new stake in shares of Progressive during the 3rd quarter valued at $222,000. Finally, Affinity Investment Advisors LLC bought a new position in Progressive in the 3rd quarter valued at about $730,000. Institutional investors and hedge funds own 85.34% of the company’s stock.

Insider Transactions at Progressive

In related news, insider Steven Broz sold 2,981 shares of the firm’s stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $251.15, for a total transaction of $748,678.15. Following the completion of the transaction, the insider now directly owns 26,353 shares in the company, valued at $6,618,555.95. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, insider John Jo Murphy sold 9,512 shares of the company’s 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. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Steven Broz sold 2,981 shares of the business’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $251.15, for a total value of $748,678.15. Following the completion of the transaction, the insider now owns 26,353 shares in the company, valued at $6,618,555.95. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 74,843 shares of company stock worth $18,674,912 in the last quarter. Company insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on PGR. HSBC raised Progressive from a “hold” rating to a “buy” rating and set a $253.00 price objective on the stock in a research note on Monday, August 12th. Piper Sandler boosted their price target on shares of Progressive from $250.00 to $252.00 and gave the stock an “overweight” rating in a research report on Thursday, August 15th. Barclays boosted their price target on Progressive from $267.00 to $277.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 23rd. The Goldman Sachs Group upped their price target on Progressive from $262.00 to $280.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Finally, Jefferies Financial Group increased their price objective on Progressive from $257.00 to $295.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Seven 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 stock. Based on data from MarketBeat.com, Progressive has a consensus rating of “Moderate Buy” and an average target price of $263.19.

Progressive Stock Down 0.5 %

Shares of PGR opened at $241.48 on Tuesday. The firm has a market cap of $141.43 billion, a P/E ratio of 17.55, a PEG ratio of 0.67 and a beta of 0.36. The Progressive Co. has a 12 month low of $149.14 and a 12 month high of $260.46. The stock’s 50 day moving average is $250.86 and its two-hundred day moving average is $227.13. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.30.

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.