Baugh & Associates LLC Trims Stock Holdings in The Progressive Co. (NYSE:PGR)

Baugh & Associates LLC decreased its stake in The Progressive Co. (NYSE:PGR) by 2.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,650 shares of the insurance provider’s stock after selling 50 shares during the quarter. Baugh & Associates LLC’s holdings in Progressive were worth $419,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Raleigh Capital Management Inc. grew its position in shares of Progressive by 20.9% during the third quarter. Raleigh Capital Management Inc. now owns 237 shares of the insurance provider’s stock worth $60,000 after purchasing an additional 41 shares in the last quarter. Castleview Partners LLC grew its position in shares of Progressive by 2.7% during the third quarter. Castleview Partners LLC now owns 1,712 shares of the insurance provider’s stock worth $434,000 after purchasing an additional 45 shares in the last quarter. Sunbelt Securities Inc. grew its position in shares of Progressive by 21.3% during the second quarter. Sunbelt Securities Inc. now owns 262 shares of the insurance provider’s stock worth $54,000 after purchasing an additional 46 shares in the last quarter. Whittier Trust Co. of Nevada Inc. grew its position in shares of Progressive by 11.8% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 455 shares of the insurance provider’s stock worth $95,000 after purchasing an additional 48 shares in the last quarter. Finally, Farmers & Merchants Investments Inc. grew its position in shares of Progressive by 10.4% during the second quarter. Farmers & Merchants Investments Inc. now owns 509 shares of the insurance provider’s stock worth $106,000 after purchasing an additional 48 shares in the last quarter. Hedge funds and other institutional investors own 85.34% of the company’s stock.

Insider Activity at Progressive

In related news, insider Steven Broz sold 6,122 shares of the business’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $235.19, for a total transaction of $1,439,833.18. Following the completion of the transaction, the insider now owns 32,316 shares in the company, valued at $7,600,400.04. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Steven Broz sold 6,122 shares of the business’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $235.19, for a total transaction of $1,439,833.18. Following the completion of the transaction, the insider now owns 32,316 shares in the company, valued at $7,600,400.04. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 completion of the sale, the director now 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 sold a total of 74,843 shares of company stock worth $18,674,912 in the last quarter. 0.34% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on PGR. Hsbc Global Res upgraded Progressive from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 12th. Jefferies Financial Group lifted their price objective on Progressive from $257.00 to $295.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Keefe, Bruyette & Woods lifted their price objective on Progressive from $280.00 to $290.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. HSBC raised Progressive from a “hold” rating to a “buy” rating and set a $253.00 price objective on the stock in a research note on Monday, August 12th. Finally, Morgan Stanley lifted their price objective on Progressive from $300.00 to $310.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Seven research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $265.63.

Progressive Price Performance

PGR opened at $258.75 on Thursday. The business has a fifty day moving average of $251.12 and a 200 day moving average of $227.59. The Progressive Co. has a 52-week low of $149.14 and a 52-week high of $260.46. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.30. The stock has a market cap of $151.54 billion, a P/E ratio of 18.80, a PEG ratio of 0.67 and a beta of 0.36.

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.