OneAscent Financial Services LLC Buys Shares of 2,335 The Progressive Co. (NYSE:PGR)

OneAscent Financial Services LLC bought a new position in The Progressive Co. (NYSE:PGR - Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 2,335 shares of the insurance provider's stock, valued at approximately $592,000.

Other large investors have also made changes to their positions in the company. Davis Capital Management acquired a new stake in Progressive in the 3rd quarter valued at $25,000. WR Wealth Planners LLC increased its holdings in Progressive by 119.6% in 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. Hilltop National Bank increased its holdings in Progressive by 126.0% in the 2nd 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. increased its holdings in Progressive by 114.1% in 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 in the last quarter. Finally, LRI Investments LLC acquired a new stake in Progressive in the 1st quarter valued at $36,000. 85.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. HSBC upgraded Progressive from a "hold" rating to a "buy" rating and set a $253.00 price target for the company in a report on Monday, August 12th. Jefferies Financial Group raised their target price on Progressive from $257.00 to $295.00 and gave the company a "buy" rating in a research note on Wednesday, October 9th. Barclays raised their target price on Progressive from $267.00 to $277.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 23rd. Roth Mkm raised their target price on Progressive from $270.00 to $290.00 and gave the company a "buy" rating in a research note on Monday, September 16th. Finally, Morgan Stanley raised their target price on Progressive from $300.00 to $310.00 and gave the company an "overweight" rating in a research note on Friday, October 18th. Five 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, the stock has an average rating of "Moderate Buy" and an average target price of $269.81.

Insider Transactions at Progressive

In other Progressive news, Director Dyke Kahina Van sold 2,180 shares of the company's stock in a transaction on Friday, September 27th. The stock was sold at an average price of $252.28, for a total value of $549,970.40. Following the transaction, the director now owns 13,723 shares of the company's stock, valued at approximately $3,462,038.44. This represents a 13.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Susan Patricia Griffith sold 43,370 shares of the company's stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $252.20, for a total value of $10,937,914.00. Following the completion of the transaction, the chief executive officer now directly owns 473,735 shares in the company, valued at $119,475,967. This represents a 8.39 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 59,209 shares of company stock worth $14,975,979. Company insiders own 0.34% of the company's stock.

Progressive Stock Performance

Shares of PGR traded down $2.01 during mid-day trading on Tuesday, reaching $254.51. 1,735,940 shares of the company's stock traded hands, compared to its average volume of 2,457,139. 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 business's 50-day moving average price is $252.43 and its 200-day moving average price is $230.76. The stock has a market capitalization of $149.09 billion, a P/E ratio of 18.50, a price-to-earnings-growth ratio of 0.71 and a beta of 0.36. The Progressive Co. has a 12 month low of $149.14 and a 12 month high of $263.85.

Progressive (NYSE:PGR - Get Free Report) last issued its quarterly earnings data on Tuesday, October 15th. The insurance provider reported $3.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.40 by $0.18. The business had revenue of $19.43 billion during the quarter, compared to the consensus estimate of $18.95 billion. Progressive had a return on equity of 33.10% and a net margin of 11.27%. Equities analysts predict that The Progressive Co. will post 13.09 earnings per share for the current year.

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.