McKinley Carter Wealth Services Inc. bought a new stake in Progressive Corp (NYSE:PGR) during the 3rd quarter, HoldingsChannel reports. The institutional investor bought 4,710 shares of the insurance provider’s stock, valued at approximately $335,000.

A number of other large investors have also bought and sold shares of PGR. Capital Advisors Ltd. LLC increased its holdings in Progressive by 409.1% in the third quarter. Capital Advisors Ltd. LLC now owns 1,400 shares of the insurance provider’s stock valued at $105,000 after buying an additional 1,125 shares during the last quarter. ELM Advisors LLC purchased a new position in Progressive in the third quarter valued at $107,000. Harvest Fund Management Co. Ltd purchased a new position in Progressive in the third quarter valued at $112,000. Migdal Insurance & Financial Holdings Ltd. increased its holdings in Progressive by 8,571.8% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,382 shares of the insurance provider’s stock valued at $200,000 after buying an additional 3,343 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC increased its holdings in Progressive by 114.8% in the second quarter. Steward Partners Investment Advisory LLC now owns 3,404 shares of the insurance provider’s stock valued at $201,000 after buying an additional 1,819 shares during the last quarter. 80.67% of the stock is currently owned by hedge funds and other institutional investors.

In other news, CEO Susan Patricia Griffith sold 12,600 shares of the stock in a transaction dated Thursday, August 16th. The shares were sold at an average price of $64.14, for a total transaction of $808,164.00. Following the completion of the sale, the chief executive officer now owns 265,856 shares in the company, valued at $17,052,003.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider John A. Barbagallo sold 50,000 shares of the stock in a transaction dated Friday, October 26th. The stock was sold at an average price of $68.02, for a total transaction of $3,401,000.00. Following the sale, the insider now owns 177,368 shares of the company’s stock, valued at approximately $12,064,571.36. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 124,600 shares of company stock worth $8,325,164. Corporate insiders own 0.70% of the company’s stock.

Several equities analysts recently commented on the company. Argus raised Progressive from a “hold” rating to a “buy” rating and set a $68.00 target price on the stock in a report on Friday, July 27th. ValuEngine lowered Progressive from a “buy” rating to a “hold” rating in a report on Thursday, November 1st. B. Riley increased their target price on Progressive from $60.00 to $68.00 and gave the company a “neutral” rating in a report on Tuesday, August 7th. Barclays increased their target price on Progressive from $59.00 to $67.00 and gave the company an “underweight” rating in a report on Monday. Finally, Citigroup increased their target price on Progressive from $65.00 to $70.00 and gave the company a “neutral” rating in a report on Friday, September 14th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $69.60.

Shares of PGR stock opened at $71.90 on Tuesday. The stock has a market cap of $42.63 billion, a price-to-earnings ratio of 27.34, a PEG ratio of 2.09 and a beta of 0.71. Progressive Corp has a 1 year low of $50.40 and a 1 year high of $73.69. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.42 and a current ratio of 0.42.

Progressive (NYSE:PGR) last issued its quarterly earnings data on Tuesday, October 16th. The insurance provider reported $1.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.43. The company had revenue of $8.60 billion for the quarter, compared to analyst estimates of $8.43 billion. Progressive had a return on equity of 27.45% and a net margin of 9.42%. The business’s quarterly revenue was up 20.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.38 earnings per share. Analysts predict that Progressive Corp will post 4.79 earnings per share for the current year.

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About Progressive

The Progressive Corporation, through its subsidiaries, provides personal and commercial auto insurance, residential property insurance, and other specialty property-casualty insurance and related services primarily in the United States. Its Personal Lines segment writes insurance for personal autos, and recreational and other vehicles.

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Institutional Ownership by Quarter for Progressive (NYSE:PGR)

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