Entropy Technologies LP Cuts Stock Holdings in The Progressive Co. (NYSE:PGR)

Entropy Technologies LP lowered its stake in shares of The Progressive Co. (NYSE:PGR) by 34.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,665 shares of the insurance provider’s stock after selling 10,207 shares during the period. Entropy Technologies LP’s holdings in Progressive were worth $4,990,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of PGR. Davis Capital Management acquired a new stake in shares of Progressive in the third quarter worth $25,000. WR Wealth Planners LLC increased its position in shares of Progressive by 119.6% in the second quarter. WR Wealth Planners LLC now owns 123 shares of the insurance provider’s stock worth $26,000 after acquiring an additional 67 shares in the last quarter. DiNuzzo Private Wealth Inc. increased its position in shares of 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 acquiring an additional 73 shares in the last quarter. Hilltop National Bank increased its position in shares of Progressive by 126.0% in the second quarter. Hilltop National Bank now owns 165 shares of the insurance provider’s stock worth $34,000 after acquiring an additional 92 shares in the last quarter. Finally, LRI Investments LLC acquired a new stake in Progressive during the 1st quarter valued at $36,000. Hedge funds and other institutional investors own 85.34% of the company’s stock.

Insider Activity at Progressive

In other news, insider Steven Broz sold 2,982 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $260.00, for a total transaction of $775,320.00. Following the transaction, the insider now owns 29,334 shares in the company, valued at approximately $7,626,840. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, insider Steven Broz sold 2,982 shares of Progressive stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $260.00, for a total transaction of $775,320.00. Following the sale, the insider now directly owns 29,334 shares in the company, valued at approximately $7,626,840. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Dyke Kahina Van sold 2,180 shares of Progressive stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $252.28, for a total transaction of $549,970.40. Following the sale, the director now owns 13,723 shares in the company, valued at approximately $3,462,038.44. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 74,843 shares of company stock worth $18,674,912. 0.34% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on PGR shares. StockNews.com lowered shares of Progressive from a “buy” rating to a “hold” rating in a report on Monday. JPMorgan Chase & Co. raised 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. Hsbc Global Res upgraded shares of Progressive from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 12th. Keefe, Bruyette & Woods lifted their price objective on shares of Progressive from $280.00 to $290.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Finally, Roth Mkm boosted their price target on shares of Progressive from $270.00 to $290.00 and gave the stock a “buy” rating in a research report on Monday, September 16th. Seven investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $269.56.

Progressive Stock Performance

PGR stock opened at $259.89 on Tuesday. The Progressive Co. has a 12 month low of $149.14 and a 12 month high of $263.85. The firm has a 50 day moving average of $251.41 and a two-hundred day moving average of $228.33. The company has a quick ratio of 0.31, a current ratio of 0.30 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $152.25 billion, a price-to-earnings ratio of 18.89, a P/E/G ratio of 0.72 and a beta of 0.36.

Progressive (NYSE:PGR) last issued its quarterly earnings data on Tuesday, October 15th. The insurance provider reported $3.58 EPS for the quarter, beating analysts’ consensus estimates of $3.40 by $0.18. The business had revenue of $19.43 billion for 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%. As a group, equities analysts anticipate that The Progressive Co. will post 13.15 EPS for the current fiscal 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.