Dynamic Technology Lab Private Ltd Grows Position in The Progressive Co. (NYSE:PGR)

Dynamic Technology Lab Private Ltd raised its holdings in The Progressive Co. (NYSE:PGR) by 381.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,601 shares of the insurance provider’s stock after purchasing an additional 8,397 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in Progressive were worth $2,690,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Davis Capital Management bought a new position in Progressive in the 3rd quarter worth approximately $25,000. WR Wealth Planners LLC boosted 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 worth $26,000 after acquiring an additional 67 shares during the period. Hilltop National Bank grew 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 purchasing an additional 92 shares in the last quarter. DiNuzzo Private Wealth Inc. raised its stake 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 valued at $35,000 after purchasing an additional 73 shares during the period. Finally, LRI Investments LLC purchased a new stake in Progressive during the 1st quarter worth about $36,000. Hedge funds and other institutional investors own 85.34% of the company’s stock.

Insider Transactions at Progressive

In related news, insider Steven Broz sold 2,981 shares of the firm’s stock in a transaction on Monday, October 21st. The stock was sold at an average price of $251.15, for a total value of $748,678.15. Following the completion of the sale, the insider now owns 26,353 shares of the company’s stock, valued at $6,618,555.95. This trade represents a 10.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Susan Patricia Griffith sold 43,370 shares of the business’s stock in a transaction 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 transaction, the chief executive officer now directly owns 473,735 shares in the company, valued at approximately $119,475,967. The trade was a 8.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 59,209 shares of company stock worth $14,975,979. Company insiders own 0.34% of the company’s stock.

Progressive Stock Up 1.0 %

Shares of NYSE:PGR opened at $266.06 on Monday. The Progressive Co. has a 12-month low of $149.14 and a 12-month high of $266.18. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.25. The stock’s 50-day moving average price is $253.06 and its 200-day moving average price is $231.74. The stock has a market capitalization of $155.86 billion, a P/E ratio of 19.34, a price-to-earnings-growth ratio of 0.74 and a beta of 0.36.

Progressive (NYSE:PGR) last posted its quarterly earnings results on Tuesday, October 15th. The insurance provider reported $3.58 EPS for the quarter, beating analysts’ consensus estimates of $3.40 by $0.18. The company had revenue of $19.43 billion during the quarter, compared to analyst estimates of $18.95 billion. Progressive had a net margin of 11.27% and a return on equity of 33.10%. On average, equities analysts anticipate that The Progressive Co. will post 13.17 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on PGR shares. Jefferies Financial Group upped their price target on Progressive from $257.00 to $295.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Roth Mkm increased their target price on shares of Progressive from $270.00 to $290.00 and gave the stock a “buy” rating in a research note on Monday, September 16th. Wells Fargo & Company raised their price target on shares of Progressive from $281.00 to $282.00 and gave the company an “overweight” rating in a report on Tuesday, September 10th. StockNews.com raised shares of Progressive from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. Finally, Hsbc Global Res raised Progressive from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 12th. Five research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $269.81.

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.