The Progressive Co. (NYSE:PGR) is Mcdonald Capital Investors Inc. CA’s Largest Position

Mcdonald Capital Investors Inc. CA lessened its position in shares of The Progressive Co. (NYSE:PGR) by 12.0% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,043,548 shares of the insurance provider’s stock after selling 141,788 shares during the quarter. Progressive makes up about 16.3% of Mcdonald Capital Investors Inc. CA’s holdings, making the stock its largest position. Mcdonald Capital Investors Inc. CA’s holdings in Progressive were worth $264,811,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Davis Capital Management purchased a new stake in shares of Progressive in the third quarter valued at $25,000. WR Wealth Planners LLC raised its stake in 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 purchasing an additional 67 shares during the last quarter. DiNuzzo Private Wealth Inc. lifted its holdings in Progressive by 114.1% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 137 shares of the insurance provider’s stock valued at $35,000 after purchasing an additional 73 shares in the last quarter. Hilltop National Bank raised 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 valued at $34,000 after buying an additional 92 shares during the last quarter. Finally, LRI Investments LLC acquired a new stake in Progressive during the first quarter worth approximately $36,000. 85.34% of the stock is currently owned by hedge funds and other institutional investors.

Progressive Trading Up 4.3 %

NYSE PGR opened at $258.75 on Thursday. The company’s fifty day simple moving average is $251.12 and its 200-day simple moving average is $227.59. The stock has a market cap of $151.54 billion, a P/E ratio of 18.80, a PEG ratio of 0.67 and a beta of 0.36. The Progressive Co. has a 52 week low of $149.14 and a 52 week high of $260.46. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.30.

Insiders Place Their Bets

In other news, CEO Susan Patricia Griffith sold 43,370 shares of Progressive stock in a transaction dated Tuesday, September 3rd. The stock was 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. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Susan Patricia Griffith sold 43,370 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 473,735 shares of the company’s stock, valued at approximately $119,475,967. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Steven Broz sold 2,982 shares of the business’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $260.00, for a total transaction of $775,320.00. Following the completion of the sale, the insider now directly owns 29,334 shares of the company’s stock, valued at $7,626,840. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 74,843 shares of company stock worth $18,674,912 in the last quarter. 0.34% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on PGR. Evercore ISI lifted their price objective on Progressive from $277.00 to $285.00 and gave the company an “outperform” rating in a research report on Wednesday. Citigroup lowered their target price on shares of Progressive from $232.00 to $225.00 and set a “neutral” rating for the company in a report on Wednesday, July 17th. StockNews.com downgraded shares of Progressive from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. Barclays boosted their price objective on shares of Progressive from $267.00 to $277.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 23rd. Finally, Jefferies Financial Group increased their target price on Progressive from $257.00 to $295.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Seven equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $265.63.

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.