Crestwood Advisors Group LLC Raises Stake in The Progressive Co. (NYSE:PGR)

Crestwood Advisors Group LLC boosted its holdings in The Progressive Co. (NYSE:PGR) by 15.3% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm 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 and hedge funds have also made changes to their positions in the business. Davis Capital Management bought a new stake in Progressive in the third quarter worth $25,000. WR Wealth Planners LLC raised its holdings in Progressive by 119.6% in the 2nd quarter. WR Wealth Planners LLC now owns 123 shares of the insurance provider’s stock worth $26,000 after acquiring an additional 67 shares during the last quarter. Hilltop National Bank boosted its stake in Progressive by 126.0% during the 2nd quarter. Hilltop National Bank now owns 165 shares of the insurance provider’s stock valued at $34,000 after purchasing an additional 92 shares during the last quarter. DiNuzzo Private Wealth Inc. increased its holdings 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 purchasing an additional 73 shares in the last quarter. Finally, LRI Investments LLC purchased a new position in shares of Progressive in the first quarter worth $36,000. Institutional investors own 85.34% of the company’s stock.

Progressive Price Performance

NYSE:PGR opened at $258.75 on Thursday. The business’s 50-day simple moving average is $251.12 and its two-hundred day simple moving average is $227.59. The Progressive Co. has a 52 week low of $149.14 and a 52 week high of $260.46. The stock has a market cap of $151.54 billion, a PE ratio of 18.80, a P/E/G ratio of 0.67 and a beta of 0.36. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.30.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. JPMorgan Chase & Co. increased their price objective on Progressive from $242.00 to $251.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. StockNews.com downgraded shares of Progressive from a “buy” rating to a “hold” rating in a research report on Friday, November 1st. Wells Fargo & Company increased their price target on Progressive from $281.00 to $282.00 and gave the company an “overweight” rating in a report on Tuesday, September 10th. HSBC upgraded 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, Morgan Stanley raised their target price on Progressive from $300.00 to $310.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. Seven investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $265.63.

Insider Buying and Selling

In other Progressive news, insider Steven Broz sold 2,981 shares of the company’s stock in a transaction that occurred on Monday, October 21st. The stock was 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 directly owns 26,353 shares in the company, valued at $6,618,555.95. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Progressive news, insider Steven Broz sold 2,981 shares of the business’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $251.15, for a total value of $748,678.15. Following the sale, the insider now owns 26,353 shares in the company, valued at $6,618,555.95. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Dyke Kahina Van sold 2,180 shares of the firm’s stock in a transaction dated 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 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 position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 74,843 shares of company stock worth $18,674,912. 0.34% of the stock is owned by corporate insiders.

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.