Icon Wealth Advisors LLC Purchases 21,350 Shares of The Progressive Co. (NYSE:PGR)

Icon Wealth Advisors LLC boosted its position in The Progressive Co. (NYSE:PGR) by 892.6% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 23,742 shares of the insurance provider’s stock after purchasing an additional 21,350 shares during the period. Icon Wealth Advisors LLC’s holdings in Progressive were worth $6,025,000 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 the business. Diversified Trust Co raised its stake in Progressive by 84.3% in the third quarter. Diversified Trust Co now owns 25,738 shares of the insurance provider’s stock valued at $6,531,000 after buying an additional 11,770 shares during the period. Sycomore Asset Management increased its holdings in shares of Progressive by 9.5% during the 2nd quarter. Sycomore Asset Management now owns 28,128 shares of the insurance provider’s stock worth $5,856,000 after acquiring an additional 2,450 shares during the last quarter. Sumitomo Life Insurance Co. acquired a new position in shares of Progressive during the 2nd quarter worth approximately $981,000. Tidal Investments LLC raised its stake in Progressive by 22.2% in the 1st quarter. Tidal Investments LLC now owns 31,330 shares of the insurance provider’s stock valued at $6,480,000 after acquiring an additional 5,691 shares during the period. Finally, Advisors Asset Management Inc. lifted its holdings in Progressive by 88.7% during the 1st quarter. Advisors Asset Management Inc. now owns 7,626 shares of the insurance provider’s stock valued at $1,577,000 after purchasing an additional 3,585 shares during the last quarter. Institutional investors own 85.34% of the company’s stock.

Insider Buying and Selling

In other Progressive news, Director Dyke Kahina Van sold 2,180 shares of the firm’s stock in a transaction on Friday, September 27th. The stock was sold at an average price of $252.28, for a total value of $549,970.40. Following the sale, the director now owns 13,723 shares of the company’s stock, valued at approximately $3,462,038.44. This trade represents a 13.71 % decrease in their position. The sale was disclosed in a document filed with the SEC, 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 on Tuesday, September 3rd. The stock was sold at an average price of $252.20, for a total value of $10,937,914.00. Following the transaction, the chief executive officer now directly owns 473,735 shares of the company’s stock, valued at $119,475,967. This trade represents a 8.39 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 59,209 shares of company stock valued at $14,975,979 over the last quarter. 0.34% of the stock is owned by company insiders.

Progressive Trading Up 2.3 %

Shares of NYSE:PGR opened at $262.90 on Friday. The business’s 50 day simple moving average is $252.85 and its 200 day simple moving average is $231.17. The Progressive Co. has a 1 year low of $149.14 and a 1 year high of $263.85. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.30 and a quick ratio of 0.30. The company has a market capitalization of $154.01 billion, a P/E ratio of 19.11, a P/E/G ratio of 0.71 and a beta of 0.36.

Progressive (NYSE:PGR) last released its earnings results on Tuesday, October 15th. The insurance provider reported $3.58 earnings per share for the quarter, beating analysts’ consensus estimates of $3.40 by $0.18. The firm had revenue of $19.43 billion during the quarter, compared to the consensus estimate of $18.95 billion. Progressive had a return on equity of 33.10% and a net margin of 11.27%. On average, research analysts anticipate that The Progressive Co. will post 13.09 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Evercore ISI upped their price objective on shares of Progressive from $277.00 to $285.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. Hsbc Global Res raised shares of Progressive from a “hold” rating to a “strong-buy” rating in a report on Monday, August 12th. StockNews.com upgraded shares of Progressive from a “hold” rating to a “buy” rating in a research note on Tuesday. HSBC upgraded shares of Progressive from a “hold” rating to a “buy” rating and set a $253.00 price objective for the company in a research report on Monday, August 12th. Finally, JPMorgan Chase & Co. boosted their price objective on Progressive from $242.00 to $251.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Five equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Progressive currently has an average rating of “Moderate Buy” and a consensus price target of $269.81.

About Progressive

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.