Quest Partners LLC Has $310,000 Stake in The Progressive Co. (NYSE:PGR)

Quest Partners LLC reduced its position in shares of The Progressive Co. (NYSE:PGR) by 83.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,220 shares of the insurance provider’s stock after selling 6,369 shares during the period. Quest Partners LLC’s holdings in Progressive were worth $310,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of PGR. Davis Capital Management bought a new stake in Progressive in the 3rd quarter valued at approximately $25,000. WR Wealth Planners LLC raised its holdings in shares of Progressive by 119.6% in the second quarter. WR Wealth Planners LLC now owns 123 shares of the insurance provider’s stock valued at $26,000 after purchasing an additional 67 shares during the last quarter. Hilltop National Bank lifted its position in shares of Progressive by 126.0% in the second quarter. Hilltop National Bank now owns 165 shares of the insurance provider’s stock worth $34,000 after purchasing an additional 92 shares in the last quarter. DiNuzzo Private Wealth Inc. boosted its holdings 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 purchasing an additional 73 shares during the last quarter. Finally, LRI Investments LLC acquired a new position in Progressive during the first quarter worth $36,000. 85.34% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on PGR. Evercore ISI boosted their price target on shares of Progressive from $277.00 to $285.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. The Goldman Sachs Group upped their target price on Progressive from $262.00 to $280.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Keefe, Bruyette & Woods raised their price target on Progressive from $280.00 to $290.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. BMO Capital Markets dropped their price objective on Progressive from $239.00 to $237.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Finally, TD Cowen raised their target price on shares of Progressive from $197.00 to $237.00 and gave the company a “hold” rating in a research note on Friday, November 8th. Five equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $269.81.

Progressive Stock Down 0.1 %

Progressive stock opened at $265.89 on Tuesday. The Progressive Co. has a twelve month low of $149.14 and a twelve month high of $266.89. The stock has a market cap of $155.76 billion, a P/E ratio of 19.32, a P/E/G ratio of 0.74 and a beta of 0.36. The company’s 50-day moving average price is $253.25 and its two-hundred day moving average price is $232.11. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.25.

Progressive (NYSE:PGR) last released its quarterly earnings results 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. Progressive had a return on equity of 33.10% and a net margin of 11.27%. The business had revenue of $19.43 billion during the quarter, compared to analysts’ expectations of $18.95 billion. As a group, analysts expect that The Progressive Co. will post 13.17 EPS for the current year.

Insider Activity

In other Progressive news, CEO Susan Patricia Griffith sold 43,370 shares of the business’s 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 completion of the sale, the chief executive officer now owns 473,735 shares of the company’s stock, valued at $119,475,967. The trade was a 8.39 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Steven Broz sold 2,982 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $260.00, for a total transaction of $775,320.00. Following the transaction, the insider now directly owns 29,334 shares in the company, valued at $7,626,840. This represents a 9.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 59,209 shares of company stock valued at $14,975,979. 0.34% of the stock is owned by company insiders.

Progressive Company 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.