Dynamic Technology Lab Private Ltd Has $2.69 Million Position in The Progressive Co. (NYSE:PGR)

Dynamic Technology Lab Private Ltd boosted its holdings in shares of The Progressive Co. (NYSE:PGR) by 381.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,601 shares of the insurance provider’s stock after acquiring an additional 8,397 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Progressive were worth $2,690,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Davis Capital Management acquired a new stake in shares of Progressive during the third quarter worth $25,000. WR Wealth Planners LLC boosted its position in shares of Progressive by 119.6% during 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 in the last quarter. DiNuzzo Private Wealth Inc. increased its holdings in Progressive by 114.1% in the third quarter. DiNuzzo Private Wealth Inc. now owns 137 shares of the insurance provider’s stock worth $35,000 after purchasing an additional 73 shares in the last quarter. Hilltop National Bank boosted its holdings 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 buying an additional 92 shares in the last quarter. Finally, LRI Investments LLC bought a new stake in shares of Progressive in the 1st quarter valued at $36,000. 85.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently issued reports on PGR. Hsbc Global Res raised shares of Progressive from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 12th. TD Cowen raised their target price on Progressive from $197.00 to $237.00 and gave the company a “hold” rating in a research note on Friday, November 8th. 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. Roth Mkm raised their price objective on Progressive from $270.00 to $290.00 and gave the company a “buy” rating in a research note on Monday, September 16th. Finally, Evercore ISI upped their target price on Progressive from $277.00 to $285.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. Five analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $269.81.

Progressive Trading Up 1.0 %

Shares of PGR stock opened at $266.06 on Monday. 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 company has a market capitalization of $155.86 billion, a price-to-earnings ratio of 19.34, a PEG ratio of 0.74 and a beta of 0.36. The Progressive Co. has a 52-week low of $149.14 and a 52-week high of $266.18. The company has a 50-day simple moving average of $253.06 and a two-hundred day simple moving average of $231.74.

Progressive (NYSE:PGR) last released its earnings results on Tuesday, October 15th. The insurance provider reported $3.58 earnings per share (EPS) for the quarter, beating the consensus estimate 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 return on equity of 33.10% and a net margin of 11.27%. Research analysts anticipate that The Progressive Co. will post 13.17 EPS for the current fiscal year.

Insider Transactions at Progressive

In other news, Director Dyke Kahina Van sold 2,180 shares of the firm’s stock in a transaction that occurred on Friday, September 27th. The shares were 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 in the company, valued at $3,462,038.44. This trade represents a 13.71 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Steven Broz sold 2,981 shares of the company’s stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $251.15, for a total value of $748,678.15. Following the completion of the transaction, the insider now owns 26,353 shares in the company, valued at approximately $6,618,555.95. The trade was a 10.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 59,209 shares of company stock worth $14,975,979 in the last ninety days. Company insiders own 0.34% of the company’s stock.

Progressive 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.