Apollon Wealth Management LLC Has $3.39 Million Stake in The Progressive Co. (NYSE:PGR)

Apollon Wealth Management LLC raised its holdings in The Progressive Co. (NYSE:PGR) by 11.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 13,343 shares of the insurance provider’s stock after acquiring an additional 1,422 shares during the quarter. Apollon Wealth Management LLC’s holdings in Progressive were worth $3,386,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PGR. Diversified Trust Co grew its stake in shares of Progressive by 84.3% during the third quarter. Diversified Trust Co now owns 25,738 shares of the insurance provider’s stock worth $6,531,000 after purchasing an additional 11,770 shares during the period. Councilmark Asset Management LLC bought a new stake in shares of Progressive in the 1st quarter valued at about $1,890,000. Sycomore Asset Management increased its stake in shares of Progressive by 9.5% in the 2nd quarter. Sycomore Asset Management now owns 28,128 shares of the insurance provider’s stock valued at $5,856,000 after acquiring an additional 2,450 shares during the last quarter. Sumitomo Life Insurance Co. acquired a new stake in shares of Progressive in the 2nd quarter valued at approximately $981,000. Finally, Tidal Investments LLC boosted its stake in Progressive by 22.2% during the 1st quarter. Tidal Investments LLC now owns 31,330 shares of the insurance provider’s stock worth $6,480,000 after acquiring an additional 5,691 shares during the last quarter. 85.34% of the stock is owned by institutional investors.

Progressive Stock Performance

PGR opened at $262.29 on Wednesday. The business’s 50-day simple moving average is $251.57 and its 200 day simple moving average is $228.68. The Progressive Co. has a 52-week low of $149.14 and a 52-week high of $263.85. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.30 and a current ratio of 0.30. The firm has a market capitalization of $153.65 billion, a PE ratio of 19.06, a PEG ratio of 0.72 and a beta of 0.36.

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

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on PGR shares. StockNews.com lowered shares of Progressive from a “buy” rating to a “hold” rating in a report on Monday. Jefferies Financial Group raised their price objective on Progressive from $257.00 to $295.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Keefe, Bruyette & Woods boosted their target price on Progressive from $280.00 to $290.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. 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, November 8th. Finally, Wells Fargo & Company boosted their price objective on Progressive from $281.00 to $282.00 and gave the company an “overweight” rating in a research report on Tuesday, September 10th. Seven analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $269.56.

Insider Buying and Selling at Progressive

In other news, Director Dyke Kahina Van sold 2,180 shares of the company’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $252.28, for a total value of $549,970.40. Following the sale, the director now directly owns 13,723 shares of the company’s stock, valued at approximately $3,462,038.44. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Steven Broz sold 2,982 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $260.00, for a total value of $775,320.00. Following the sale, the insider now owns 29,334 shares in the company, valued at approximately $7,626,840. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Dyke Kahina Van sold 2,180 shares of Progressive stock in a transaction on Friday, September 27th. The stock was sold at an average price of $252.28, for a total transaction of $549,970.40. Following the transaction, the director now directly 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 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 quarter. 0.34% of the stock is currently owned by 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.