CreativeOne Wealth LLC Sells 956 Shares of The Progressive Corporation $PGR

CreativeOne Wealth LLC decreased its holdings in shares of The Progressive Corporation (NYSE:PGR) by 36.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,686 shares of the insurance provider’s stock after selling 956 shares during the quarter. CreativeOne Wealth LLC’s holdings in Progressive were worth $450,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Atlantic Union Bankshares Corp purchased a new stake in Progressive in the 2nd quarter worth about $33,000. Westside Investment Management Inc. raised its holdings in shares of Progressive by 900.0% in the second quarter. Westside Investment Management Inc. now owns 130 shares of the insurance provider’s stock worth $34,000 after buying an additional 117 shares during the period. Ransom Advisory Ltd bought a new stake in shares of Progressive during the 1st quarter worth approximately $35,000. Activest Wealth Management boosted its holdings in Progressive by 6,350.0% during the 1st quarter. Activest Wealth Management now owns 129 shares of the insurance provider’s stock valued at $37,000 after acquiring an additional 127 shares during the period. Finally, Richardson Financial Services Inc. grew its position in Progressive by 1,885.7% in the 2nd quarter. Richardson Financial Services Inc. now owns 139 shares of the insurance provider’s stock valued at $37,000 after acquiring an additional 132 shares during the last quarter. 85.34% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

PGR has been the subject of several research analyst reports. Morgan Stanley set a $214.00 target price on Progressive and gave the stock an “underweight” rating in a research report on Monday, October 20th. Cantor Fitzgerald raised shares of Progressive to a “hold” rating in a research note on Wednesday, August 13th. UBS Group lowered their price target on Progressive from $268.00 to $261.00 and set a “neutral” rating for the company in a report on Wednesday, October 8th. The Goldman Sachs Group reduced their price objective on Progressive from $276.00 to $245.00 and set a “buy” rating on the stock in a report on Monday, October 27th. Finally, Wells Fargo & Company upped their target price on Progressive from $246.00 to $247.00 and gave the stock an “equal weight” rating in a report on Thursday, November 20th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Progressive currently has a consensus rating of “Hold” and an average price target of $266.52.

Progressive Stock Down 0.2%

Progressive stock opened at $228.63 on Friday. The company has a quick ratio of 0.31, a current ratio of 0.32 and a debt-to-equity ratio of 0.19. The firm has a market cap of $134.07 billion, a P/E ratio of 12.54, a P/E/G ratio of 1.19 and a beta of 0.29. The business has a fifty day moving average of $227.31 and a two-hundred day moving average of $246.49. The Progressive Corporation has a twelve month low of $199.90 and a twelve month high of $292.99.

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

Insider Activity

In related news, insider Steven Broz sold 1,345 shares of the business’s stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $228.29, for a total transaction of $307,050.05. Following the completion of the transaction, the insider owned 27,698 shares in the company, valued at $6,323,176.42. The trade was a 4.63% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Patrick K. Callahan sold 6,420 shares of the stock in a transaction that occurred on Friday, September 19th. The shares were sold at an average price of $242.22, for a total transaction of $1,555,052.40. Following the sale, the insider directly owned 15,192 shares of the company’s stock, valued at $3,679,806.24. The trade was a 29.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 43,332 shares of company stock valued at $10,564,558. Company insiders own 0.34% of the company’s stock.

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.