Napa Wealth Management Acquires Shares of 4,444 The Progressive Co. (NYSE:PGR)

Napa Wealth Management purchased a new stake in shares of The Progressive Co. (NYSE:PGR - Free Report) in the third quarter, according to its most recent filing with the SEC. The firm purchased 4,444 shares of the insurance provider's stock, valued at approximately $1,128,000.

A number of other institutional investors also recently bought and sold shares of the company. Capital International Investors grew its position in shares of Progressive by 15.7% in the first quarter. Capital International Investors now owns 4,925,019 shares of the insurance provider's stock valued at $1,018,592,000 after purchasing an additional 670,006 shares during the last quarter. Legal & General Group Plc grew its stake in shares of Progressive by 1.9% during the 2nd quarter. Legal & General Group Plc now owns 4,922,743 shares of the insurance provider's stock valued at $1,022,507,000 after buying an additional 92,212 shares during the period. American Century Companies Inc. increased its stake in Progressive by 3.0% during the second quarter. American Century Companies Inc. now owns 2,392,773 shares of the insurance provider's stock worth $497,003,000 after acquiring an additional 69,709 shares during the last quarter. Swiss National Bank lifted its position in Progressive by 0.3% during the third quarter. Swiss National Bank now owns 1,738,400 shares of the insurance provider's stock valued at $441,136,000 after buying an additional 4,400 shares in the last quarter. Finally, 1832 Asset Management L.P. boosted its position in Progressive by 13.5% during the 1st quarter. 1832 Asset Management L.P. now owns 1,685,868 shares of the insurance provider's stock worth $348,671,000 after purchasing an additional 200,118 shares during the period. 85.34% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Progressive

In related news, CEO Susan Patricia Griffith sold 43,370 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $252.20, for a total transaction of $10,937,914.00. Following the completion of the sale, 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Steven Broz sold 2,981 shares of the firm's stock in a transaction dated 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 directly owns 26,353 shares in the company, valued at $6,618,555.95. The trade was a 10.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 59,209 shares of company stock valued at $14,975,979 over the last three months. 0.34% of the stock is currently owned by insiders.

Progressive Trading Up 0.3 %

Shares of Progressive stock traded up $0.74 during trading on Monday, hitting $256.52. The company's stock had a trading volume of 1,657,776 shares, compared to its average volume of 2,460,371. The stock has a 50-day moving average price of $252.22 and a two-hundred day moving average price of $230.10. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.30 and a quick ratio of 0.30. The Progressive Co. has a 52 week low of $149.14 and a 52 week high of $263.85. The stock has a market cap of $150.27 billion, a price-to-earnings ratio of 18.64, a price-to-earnings-growth ratio of 0.71 and a beta of 0.36.

Progressive (NYSE:PGR - Get Free Report) last announced 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 business had revenue of $19.43 billion during the quarter, compared to analyst estimates of $18.95 billion. Equities research analysts anticipate that The Progressive Co. will post 13.09 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Wells Fargo & Company upped their price objective on shares of Progressive from $281.00 to $282.00 and gave the company an "overweight" rating in a research report on Tuesday, September 10th. Piper Sandler boosted their price objective on Progressive from $250.00 to $252.00 and gave the stock an "overweight" rating in a research report on Thursday, August 15th. Roth Mkm raised their price objective on shares of Progressive from $270.00 to $290.00 and gave the company a "buy" rating in a research note on Monday, September 16th. JPMorgan Chase & Co. lifted their price target on shares of Progressive from $242.00 to $251.00 and gave the stock an "overweight" rating in a research report on Thursday, October 10th. Finally, BMO Capital Markets reduced their price objective on Progressive from $239.00 to $237.00 and set an "outperform" rating for the company in a research note on Wednesday, August 7th. Six analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average 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.