Progressive (NYSE:PGR) PT Raised to $277.00

Progressive (NYSE:PGR) had its target price upped by analysts at Barclays from $267.00 to $277.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has an “equal weight” rating on the insurance provider’s stock. Barclays‘s price objective suggests a potential upside of 12.20% from the company’s current price.

Other analysts have also issued research reports about the stock. StockNews.com lowered shares of Progressive from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. The Goldman Sachs Group increased their price objective on Progressive from $262.00 to $280.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. 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. Jefferies Financial Group increased their price target on Progressive from $257.00 to $295.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Finally, Roth Mkm lifted their price objective on Progressive from $270.00 to $290.00 and gave the stock a “buy” rating in a research note on Monday, September 16th. Six research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $263.19.

Progressive Trading Down 0.2 %

Shares of PGR opened at $246.87 on Wednesday. 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 stock has a market cap of $144.58 billion, a PE ratio of 17.94, a PEG ratio of 0.68 and a beta of 0.35. Progressive has a 1 year low of $149.14 and a 1 year high of $260.46. The stock has a 50 day simple moving average of $250.14 and a 200-day simple moving average of $224.95.

Insider Buying and Selling

In related news, Director Dyke Kahina Van sold 2,180 shares of the company’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 transaction, 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 is accessible through this link. In other Progressive news, insider Steven Broz sold 2,981 shares of the business’s stock in a transaction that occurred 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 sale, the insider now owns 26,353 shares in the company, valued at approximately $6,618,555.95. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Dyke Kahina Van sold 2,180 shares of the firm’s stock in a transaction that occurred 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 $3,462,038.44. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 74,843 shares of company stock worth $18,674,912 over the last ninety days. Company insiders own 0.34% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Davis Capital Management acquired a new position in shares of Progressive during the 3rd quarter worth about $25,000. WR Wealth Planners LLC grew its stake in 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 in the last quarter. Indiana Trust & Investment Management CO acquired a new position in shares of Progressive during the 1st quarter worth approximately $32,000. Hilltop National Bank raised its stake in shares of Progressive by 126.0% during the 2nd 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. Finally, Register Financial Advisors LLC acquired a new stake in shares of Progressive in the 1st quarter valued at approximately $35,000. Institutional investors and hedge funds own 85.34% of the company’s stock.

About Progressive

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.