Wealth Enhancement Advisory Services LLC Takes Position in Progressive Corp (PGR)
Wealth Enhancement Advisory Services LLC acquired a new position in shares of Progressive Corp (NYSE:PGR) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 46,227 shares of the insurance provider’s stock, valued at approximately $2,586,000.
Several other institutional investors also recently made changes to their positions in PGR. Mckinley Capital Management LLC Delaware acquired a new position in shares of Progressive during the second quarter worth about $101,000. Balentine LLC grew its position in shares of Progressive by 3,273.0% during the third quarter. Balentine LLC now owns 2,496 shares of the insurance provider’s stock worth $121,000 after buying an additional 2,422 shares in the last quarter. YorkBridge Wealth Partners LLC grew its position in shares of Progressive by 12.9% during the second quarter. YorkBridge Wealth Partners LLC now owns 3,727 shares of the insurance provider’s stock worth $165,000 after buying an additional 427 shares in the last quarter. Sun Life Financial INC grew its position in shares of Progressive by 35,300.0% during the second quarter. Sun Life Financial INC now owns 4,248 shares of the insurance provider’s stock worth $187,000 after buying an additional 4,236 shares in the last quarter. Finally, W. E. Donoghue & Co. LLC acquired a new position in shares of Progressive during the second quarter worth about $200,000. 79.45% of the stock is owned by institutional investors and hedge funds.
Shares of Progressive Corp (NYSE PGR) traded up $0.37 during midday trading on Friday, reaching $57.66. The company’s stock had a trading volume of 3,847,604 shares, compared to its average volume of 3,040,008. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.50 and a current ratio of 0.50. Progressive Corp has a one year low of $36.17 and a one year high of $57.85. The stock has a market capitalization of $33,530.00, a PE ratio of 24.03, a P/E/G ratio of 2.42 and a beta of 0.94.
In other Progressive news, insider William M. Cody sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, December 22nd. The stock was sold at an average price of $56.10, for a total value of $1,402,500.00. Following the completion of the sale, the insider now owns 137,722 shares in the company, valued at $7,726,204.20. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CMO M Jeffrey Charney sold 6,000 shares of the business’s stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $49.50, for a total value of $297,000.00. Following the completion of the sale, the chief marketing officer now owns 102,038 shares of the company’s stock, valued at approximately $5,050,881. The disclosure for this sale can be found here. 0.56% of the stock is currently owned by insiders.
PGR has been the subject of several recent analyst reports. Wells Fargo & Co set a $55.00 target price on Progressive and gave the stock a “hold” rating in a research note on Wednesday, December 13th. MKM Partners boosted their target price on Progressive to $65.00 and gave the stock a “buy” rating in a research note on Friday, December 15th. Credit Suisse Group restated a “hold” rating and set a $48.00 target price on shares of Progressive in a research note on Friday, December 15th. Keefe, Bruyette & Woods restated a “buy” rating and set a $60.00 target price on shares of Progressive in a research note on Wednesday, December 6th. Finally, Goldman Sachs Group initiated coverage on Progressive in a research note on Monday, December 4th. They set a “buy” rating and a $57.00 target price for the company. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $50.41.
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Progressive Company Profile
The Progressive Corporation is an insurance holding company. The Company’s insurance subsidiaries and affiliates provide personal and commercial automobile and property insurance, other specialty property-casualty insurance and related services. The Company operates through the Personal Lines, Commercial Lines and Property segments.
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