Leavell Investment Management Inc. Trims Stock Position in The Progressive Co. (NYSE:PGR)

Leavell Investment Management Inc. trimmed its holdings in The Progressive Co. (NYSE:PGR) by 6.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 1,942 shares of the insurance provider’s stock after selling 142 shares during the period. Leavell Investment Management Inc.’s holdings in Progressive were worth $493,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Davis Capital Management purchased a new stake in Progressive in the 3rd quarter valued at about $25,000. WR Wealth Planners LLC raised its stake in shares of Progressive by 119.6% in 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 during the period. Hilltop National Bank lifted 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 worth $34,000 after acquiring an additional 92 shares during the last quarter. DiNuzzo Private Wealth Inc. boosted its position in shares of Progressive by 114.1% during 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 during the period. Finally, LRI Investments LLC acquired a new stake in Progressive in the 1st quarter valued at approximately $36,000. Institutional investors and hedge funds own 85.34% of the company’s stock.

Progressive Trading Up 2.4 %

PGR opened at $261.52 on Monday. The business’s 50-day simple moving average is $251.41 and its 200-day simple moving average is $228.22. The company has a market cap of $153.20 billion, a P/E ratio of 19.01, a PEG ratio of 0.72 and a beta of 0.36. The Progressive Co. has a one year low of $149.14 and a one year high of $263.39. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.31 and a current ratio of 0.30.

Progressive (NYSE:PGR) last issued its quarterly earnings data on Tuesday, October 15th. The insurance provider reported $3.58 earnings per share for the quarter, topping the consensus estimate of $3.40 by $0.18. The business had revenue of $19.43 billion during the quarter, compared to the consensus estimate of $18.95 billion. Progressive had a net margin of 11.27% and a return on equity of 33.10%. As a group, equities research analysts expect that The Progressive Co. will post 13.15 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently commented on PGR. TD Cowen raised their price target on Progressive from $197.00 to $237.00 and gave the stock a “hold” rating in a research report on Friday. StockNews.com downgraded Progressive from a “buy” rating to a “hold” rating in a research report on Friday, November 1st. Hsbc Global Res raised shares of Progressive from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 12th. JPMorgan Chase & Co. lifted their price objective on shares of Progressive from $242.00 to $251.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Finally, The Goldman Sachs Group increased their target price on shares of Progressive from $262.00 to $280.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Seven investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $269.56.

Insider Activity at Progressive

In other news, Director Dyke Kahina Van sold 2,180 shares of Progressive stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $252.28, for a total transaction of $549,970.40. Following the sale, the director now owns 13,723 shares in the company, 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 is accessible through this link. In other news, insider Steven Broz sold 6,122 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now directly owns 32,316 shares in the company, valued at approximately $7,600,400.04. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Dyke Kahina Van sold 2,180 shares of the company’s stock in a transaction 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 sale, the director now owns 13,723 shares of the company’s stock, valued at approximately $3,462,038.44. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 74,843 shares of company stock valued at $18,674,912 over the last ninety days. Insiders own 0.34% of the company’s stock.

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.