Crestwood Advisors Group LLC Acquires 348 Shares of The Progressive Co. (NYSE:PGR)

Crestwood Advisors Group LLC lifted its holdings in The Progressive Co. (NYSE:PGR) by 15.3% in the third quarter, Holdings Channel reports. The fund owned 2,622 shares of the insurance provider’s stock after purchasing an additional 348 shares during the quarter. Crestwood Advisors Group LLC’s holdings in Progressive were worth $665,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in PGR. Rehmann Capital Advisory Group bought a new position in Progressive during the first quarter valued at $272,000. Csenge Advisory Group bought a new position in Progressive during the 1st quarter valued at about $270,000. Manchester Capital Management LLC raised its position in Progressive by 8.6% in the 1st quarter. Manchester Capital Management LLC now owns 2,477 shares of the insurance provider’s stock worth $512,000 after purchasing an additional 197 shares during the period. Advisory Services Network LLC lifted its stake in Progressive by 12.7% in the first quarter. Advisory Services Network LLC now owns 17,880 shares of the insurance provider’s stock worth $3,698,000 after purchasing an additional 2,016 shares during the last quarter. Finally, CFO4Life Group LLC purchased a new position in shares of Progressive during the first quarter valued at approximately $211,000. Institutional investors own 85.34% of the company’s stock.

Insider Activity at Progressive

In related news, Director Dyke Kahina Van sold 2,180 shares of the business’s stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $252.28, for a total transaction of $549,970.40. Following the completion of the transaction, the director now owns 13,723 shares in the company, valued at $3,462,038.44. 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. In other Progressive news, Director Dyke Kahina Van sold 2,180 shares of Progressive stock in a transaction on Friday, September 27th. The shares were sold at an average price of $252.28, for a total value of $549,970.40. Following the transaction, the director now directly owns 13,723 shares of the company’s stock, valued at approximately $3,462,038.44. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Steven Broz sold 6,122 shares of the stock in a transaction on Monday, August 19th. The shares were sold at an average price of $235.19, for a total value of $1,439,833.18. Following the sale, the insider now owns 32,316 shares of the company’s stock, valued at approximately $7,600,400.04. This 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 valued at $18,674,912 over the last quarter. 0.34% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Barclays raised their price target on Progressive from $267.00 to $277.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 23rd. HSBC upgraded Progressive from a “hold” rating to a “buy” rating and set a $253.00 target price for the company in a research report on Monday, August 12th. Jefferies Financial Group raised their price target on shares of Progressive from $257.00 to $295.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Piper Sandler lifted their price objective on shares of Progressive from $250.00 to $252.00 and gave the company an “overweight” rating in a report on Thursday, August 15th. Finally, Morgan Stanley upped their target price on shares of Progressive from $300.00 to $310.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Seven research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $265.63.

Progressive Stock Up 4.3 %

Shares of NYSE PGR opened at $258.75 on Thursday. The stock has a market capitalization of $151.54 billion, a PE ratio of 18.80, a price-to-earnings-growth ratio of 0.67 and a beta of 0.36. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.30. The Progressive Co. has a 12-month low of $149.14 and a 12-month high of $260.46. The stock’s fifty day simple moving average is $251.12 and its two-hundred day simple moving average is $227.59.

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.