Curi RMB Capital LLC Trims Holdings in The Progressive Co. (NYSE:PGR)

Curi RMB Capital LLC lessened its holdings in shares of The Progressive Co. (NYSE:PGR - Free Report) by 1.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 176,970 shares of the insurance provider's stock after selling 2,352 shares during the quarter. Progressive makes up approximately 1.0% of Curi RMB Capital LLC's investment portfolio, making the stock its 22nd largest position. Curi RMB Capital LLC's holdings in Progressive were worth $44,908,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Bretton Capital Management LLC bought a new position in Progressive in the 3rd quarter valued at about $8,476,000. Wealthstream Advisors Inc. acquired a new position in Progressive in the 3rd quarter valued at $204,000. Huntington National Bank increased its position in Progressive by 0.8% during the 3rd quarter. Huntington National Bank now owns 26,274 shares of the insurance provider's stock worth $6,667,000 after buying an additional 201 shares during the period. Plato Investment Management Ltd lifted its holdings in shares of Progressive by 6.2% during the third quarter. Plato Investment Management Ltd now owns 25,394 shares of the insurance provider's stock worth $6,437,000 after buying an additional 1,486 shares in the last quarter. Finally, Arjuna Capital bought a new stake in shares of Progressive in the third quarter valued at about $1,630,000. Institutional investors own 85.34% of the company's stock.

Analysts Set New Price Targets

PGR has been the subject of several analyst reports. The Goldman Sachs Group boosted their target price on shares of Progressive from $262.00 to $280.00 and gave the company a "buy" rating in a research report on Wednesday, September 18th. TD Cowen lifted their price target on shares of Progressive from $197.00 to $237.00 and gave the company a "hold" rating in a report on Friday, November 8th. Bank of America lifted their price target on Progressive from $319.00 to $331.00 and gave the company a "buy" rating in a research note on Wednesday, October 16th. Keefe, Bruyette & Woods lifted their target price on shares of Progressive from $280.00 to $290.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 16th. Finally, Piper Sandler upped their price target on shares of Progressive from $250.00 to $252.00 and gave the company an "overweight" rating in a research report on Thursday, August 15th. Seven research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Progressive has an average rating of "Moderate Buy" and an average target price of $269.56.

Insiders Place Their Bets

In other news, insider Patrick K. Callahan sold 7,696 shares of the stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $255.21, for a total value of $1,964,096.16. Following the transaction, the insider now owns 15,189 shares in the company, valued at $3,876,384.69. This represents a 33.63 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Steven Broz sold 6,122 shares of the business's stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $235.19, for a total transaction of $1,439,833.18. Following the sale, the insider now owns 32,316 shares of the company's stock, valued at $7,600,400.04. This trade represents a 15.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 65,331 shares of company stock valued at $16,415,812. 0.34% of the stock is owned by insiders.

Progressive Stock Down 1.5 %

Shares of PGR traded down $3.87 on Thursday, reaching $257.50. The stock had a trading volume of 1,822,770 shares, compared to its average volume of 2,460,099. The Progressive Co. has a 12-month low of $149.14 and a 12-month high of $263.85. The firm has a market capitalization of $150.85 billion, a price-to-earnings ratio of 18.67, a price-to-earnings-growth ratio of 0.73 and a beta of 0.36. The company has a 50-day simple moving average of $251.92 and a 200-day simple moving average of $229.29. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.30 and a current ratio of 0.30.

Progressive (NYSE:PGR - Get Free Report) 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. Progressive had a net margin of 11.27% and a return on equity of 33.10%. The firm had revenue of $19.43 billion for the quarter, compared to analysts' expectations of $18.95 billion. Sell-side analysts predict that The Progressive Co. will post 13.15 EPS for the current year.

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.