Nordwand Advisors LLC Takes $212,000 Position in The Progressive Corporation $PGR

Nordwand Advisors LLC purchased a new position in The Progressive Corporation (NYSE:PGR) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 793 shares of the insurance provider’s stock, valued at approximately $212,000.

Other institutional investors have also bought and sold shares of the company. Brighton Jones LLC boosted its holdings in shares of Progressive by 15.6% in the fourth quarter. Brighton Jones LLC now owns 3,392 shares of the insurance provider’s stock worth $813,000 after acquiring an additional 457 shares during the period. Revolve Wealth Partners LLC bought a new position in Progressive in the 4th quarter worth about $269,000. Bison Wealth LLC grew its holdings in Progressive by 3.2% during the 4th quarter. Bison Wealth LLC now owns 2,568 shares of the insurance provider’s stock valued at $615,000 after buying an additional 80 shares in the last quarter. Kingsview Wealth Management LLC increased its position in shares of Progressive by 2.4% during the first quarter. Kingsview Wealth Management LLC now owns 2,197 shares of the insurance provider’s stock valued at $622,000 after buying an additional 52 shares during the period. Finally, Private Advisor Group LLC lifted its holdings in shares of Progressive by 21.7% in the first quarter. Private Advisor Group LLC now owns 13,934 shares of the insurance provider’s stock worth $3,944,000 after buying an additional 2,480 shares in the last quarter. Hedge funds and other institutional investors own 85.34% of the company’s stock.

Progressive Price Performance

Shares of Progressive stock opened at $225.10 on Wednesday. The company has a current ratio of 0.32, a quick ratio of 0.31 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $132.00 billion, a PE ratio of 12.35, a price-to-earnings-growth ratio of 1.19 and a beta of 0.29. The business’s 50-day moving average price is $230.24 and its 200-day moving average price is $249.42. The Progressive Corporation has a 12 month low of $199.90 and a 12 month high of $292.99.

Progressive (NYSE:PGR) last released its earnings results on Wednesday, October 15th. The insurance provider reported $4.45 earnings per share for the quarter, missing analysts’ consensus estimates of $5.04 by ($0.59). Progressive had a return on equity of 33.88% and a net margin of 12.57%.The firm had revenue of $21.38 billion during the quarter, compared to the consensus estimate of $21.64 billion. During the same quarter in the previous year, the firm earned $3.58 EPS. Sell-side analysts forecast that The Progressive Corporation will post 14.68 EPS for the current fiscal year.

Insider Buying and Selling at Progressive

In other news, insider Steven Broz sold 1,345 shares of the firm’s stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $220.00, for a total transaction of $295,900.00. Following the transaction, the insider directly owned 29,043 shares of the company’s stock, valued at approximately $6,389,460. This trade represents a 4.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Patrick K. Callahan sold 6,420 shares of Progressive stock in a transaction dated Friday, September 19th. The stock was sold at an average price of $242.22, for a total value of $1,555,052.40. Following the completion of the transaction, the insider owned 15,192 shares in the company, valued at approximately $3,679,806.24. This represents a 29.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 51,782 shares of company stock worth $12,708,788 in the last quarter. 0.34% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms recently weighed in on PGR. HSBC set a $259.00 target price on shares of Progressive and gave the stock an “underperform” rating in a report on Monday. Morgan Stanley set a $214.00 price objective on Progressive and gave the stock an “underweight” rating in a research report on Monday, October 20th. Keefe, Bruyette & Woods reduced their target price on Progressive from $262.00 to $246.00 and set a “market perform” rating for the company in a research report on Wednesday, November 5th. Wolfe Research began coverage on Progressive in a report on Monday, September 15th. They issued a “peer perform” rating on the stock. Finally, Raymond James Financial cut their price objective on Progressive from $305.00 to $265.00 and set an “outperform” rating for the company in a report on Friday, October 17th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $265.96.

About Progressive

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.