Arthur M. Cohen & Associates LLC Purchases 2,061 Shares of The Progressive Co. (NYSE:PGR)

Arthur M. Cohen & Associates LLC lifted its position in The Progressive Co. (NYSE:PGR) by 6.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,314 shares of the insurance provider’s stock after acquiring an additional 2,061 shares during the quarter. Progressive accounts for approximately 1.6% of Arthur M. Cohen & Associates LLC’s investment portfolio, making the stock its 15th largest holding. Arthur M. Cohen & Associates LLC’s holdings in Progressive were worth $8,725,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. Davis Capital Management bought a new stake in shares of Progressive in the 3rd quarter valued at about $25,000. WR Wealth Planners LLC boosted its position in Progressive by 119.6% during the 2nd quarter. WR Wealth Planners LLC now owns 123 shares of the insurance provider’s stock valued at $26,000 after acquiring an additional 67 shares in the last quarter. Hilltop National Bank increased its holdings in shares of Progressive by 126.0% in the 2nd quarter. Hilltop National Bank now owns 165 shares of the insurance provider’s stock valued at $34,000 after acquiring an additional 92 shares during the period. DiNuzzo Private Wealth Inc. raised its position in shares of Progressive by 114.1% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 137 shares of the insurance provider’s stock worth $35,000 after acquiring an additional 73 shares in the last quarter. Finally, LRI Investments LLC bought a new stake in Progressive during the first quarter valued at about $36,000. 85.34% of the stock is owned by hedge funds and other institutional investors.

Progressive Trading Up 0.0 %

Shares of Progressive stock opened at $241.52 on Tuesday. The stock has a market cap of $141.45 billion, a PE ratio of 17.55, a price-to-earnings-growth ratio of 0.67 and a beta of 0.36. The firm has a fifty day moving average price of $250.86 and a 200 day moving average price of $227.13. The Progressive Co. has a 1 year low of $149.14 and a 1 year 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.

Insider Buying and Selling at Progressive

In other news, insider Steven Broz sold 6,122 shares of the company’s stock in a transaction dated 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 sale, the insider now owns 32,316 shares in the company, valued at $7,600,400.04. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Susan Patricia Griffith sold 43,370 shares of the stock in a transaction on Tuesday, September 3rd. The shares were 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 of the company’s stock, valued at approximately $119,475,967. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Steven Broz sold 6,122 shares of the firm’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $235.19, for a total transaction of $1,439,833.18. Following the sale, the insider now owns 32,316 shares in the company, 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. In the last quarter, insiders sold 74,843 shares of company stock worth $18,674,912. Insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on PGR shares. Morgan Stanley boosted their target price on shares of Progressive from $300.00 to $310.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. Keefe, Bruyette & Woods increased their target price on shares of Progressive from $280.00 to $290.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. BMO Capital Markets lowered their target price on shares of Progressive from $239.00 to $237.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Hsbc Global Res raised Progressive from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 12th. Finally, Wells Fargo & Company raised their price objective on Progressive from $281.00 to $282.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 10th. Seven equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $263.19.

Progressive 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.