Washington Trust Bank Purchases 45 Shares of The Progressive Co. (NYSE:PGR)

Washington Trust Bank grew its position in The Progressive Co. (NYSE:PGR) by 4.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,024 shares of the insurance provider’s stock after purchasing an additional 45 shares during the period. Washington Trust Bank’s holdings in Progressive were worth $260,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Davis Capital Management bought a new stake in Progressive in the 3rd quarter valued at approximately $25,000. WR Wealth Planners LLC grew its holdings in Progressive by 119.6% during the second quarter. WR Wealth Planners LLC now owns 123 shares of the insurance provider’s stock worth $26,000 after purchasing an additional 67 shares during the period. DiNuzzo Private Wealth Inc. increased its position in Progressive by 114.1% during the third quarter. DiNuzzo Private Wealth Inc. now owns 137 shares of the insurance provider’s stock worth $35,000 after buying an additional 73 shares during the last quarter. Hilltop National Bank raised its stake in Progressive by 126.0% in the second quarter. Hilltop National Bank now owns 165 shares of the insurance provider’s stock valued at $34,000 after buying an additional 92 shares during the period. Finally, LRI Investments LLC bought a new position in shares of Progressive during the 1st quarter worth approximately $36,000. 85.34% of the stock is owned by institutional investors and hedge funds.

Progressive Price Performance

Shares of Progressive stock traded down $3.05 on Thursday, reaching $255.70. 41,107 shares of the stock were exchanged, compared to its average volume of 2,461,302. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.31 and a current ratio of 0.31. The firm has a market cap of $149.76 billion, a PE ratio of 18.80, a P/E/G ratio of 0.67 and a beta of 0.36. The firm’s 50 day moving average is $251.12 and its 200-day moving average is $227.59. The Progressive Co. has a one year low of $149.14 and a one year high of $260.46.

Insider Buying and Selling at Progressive

In other news, CEO Susan Patricia Griffith sold 43,370 shares of Progressive 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 owns 473,735 shares in the company, valued at approximately $119,475,967. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, insider Steven Broz sold 6,122 shares of the stock in a transaction on 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 completion of the transaction, the insider now directly owns 32,316 shares in the company, valued at approximately $7,600,400.04. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Susan Patricia Griffith sold 43,370 shares of Progressive stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $252.20, for a total value of $10,937,914.00. Following the sale, the chief executive officer now directly owns 473,735 shares in the company, valued at $119,475,967. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 74,843 shares of company stock worth $18,674,912 over the last three months. Corporate insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on PGR. Jefferies Financial Group increased their price target on Progressive from $257.00 to $295.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Hsbc Global Res raised shares of Progressive from a “hold” rating to a “strong-buy” rating in a report on Monday, August 12th. The Goldman Sachs Group boosted their price objective on Progressive from $262.00 to $280.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. JPMorgan Chase & Co. boosted their price target on Progressive from $242.00 to $251.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Finally, Piper Sandler increased their price objective on Progressive from $250.00 to $252.00 and gave the stock an “overweight” rating in a research report on Thursday, August 15th. Seven investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $265.63.

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.