Woodmont Investment Counsel LLC Sells 70 Shares of The Progressive Co. (NYSE:PGR)

Woodmont Investment Counsel LLC reduced its holdings in shares of The Progressive Co. (NYSE:PGR) by 2.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,354 shares of the insurance provider’s stock after selling 70 shares during the quarter. Woodmont Investment Counsel LLC’s holdings in Progressive were worth $851,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PGR. Concurrent Investment Advisors LLC raised its position in Progressive by 66.4% during the first quarter. Concurrent Investment Advisors LLC now owns 6,814 shares of the insurance provider’s stock valued at $1,409,000 after purchasing an additional 2,719 shares in the last quarter. Diversified Trust Co boosted its holdings in Progressive by 84.3% in the third quarter. Diversified Trust Co now owns 25,738 shares of the insurance provider’s stock valued at $6,531,000 after acquiring an additional 11,770 shares in the last quarter. Councilmark Asset Management LLC purchased a new stake in Progressive in the first quarter worth about $1,890,000. Sycomore Asset Management boosted its position in shares of Progressive by 9.5% during the second quarter. Sycomore Asset Management now owns 28,128 shares of the insurance provider’s stock valued at $5,856,000 after purchasing an additional 2,450 shares in the last quarter. Finally, Sumitomo Life Insurance Co. purchased a new position in Progressive during the 2nd quarter valued at about $981,000. 85.34% of the stock is currently owned by institutional investors.

Progressive Stock Up 4.3 %

NYSE:PGR opened at $258.75 on Thursday. The Progressive Co. has a twelve month low of $149.14 and a twelve month high of $260.46. The company’s 50 day moving average is $251.12 and its two-hundred day moving average is $227.59. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.30. The company 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.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on PGR. Morgan Stanley upped their price target on Progressive from $300.00 to $310.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Piper Sandler lifted their price target on Progressive from $250.00 to $252.00 and gave the stock an “overweight” rating in a research report on Thursday, August 15th. Bank of America lifted their target price on shares of Progressive from $319.00 to $331.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. StockNews.com cut Progressive from a “buy” rating to a “hold” rating in a report on Friday, November 1st. Finally, Citigroup cut their price objective on Progressive from $232.00 to $225.00 and set a “neutral” rating for the company in a report on Wednesday, July 17th. Seven equities research 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 stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $265.63.

Insiders Place Their Bets

In related 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 completion of the sale, the director now owns 13,723 shares of the company’s stock, valued at $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 SEC, which is available through this hyperlink. In related news, Director Dyke Kahina Van sold 2,180 shares of the business’s stock in a transaction on Friday, September 27th. The shares were sold at an average price of $252.28, for a total value 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. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Steven Broz sold 2,982 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $260.00, for a total value of $775,320.00. Following the completion of the transaction, the insider now owns 29,334 shares in the company, valued at approximately $7,626,840. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 74,843 shares of company stock valued at $18,674,912. 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.