The Progressive Co. (NYSE:PGR) Shares Acquired by Swiss National Bank

Swiss National Bank lifted its stake in shares of The Progressive Co. (NYSE:PGR) by 0.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,738,400 shares of the insurance provider’s stock after purchasing an additional 4,400 shares during the period. Swiss National Bank owned 0.30% of Progressive worth $441,136,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Davis Capital Management acquired a new position in shares of Progressive during the 3rd quarter worth approximately $25,000. WR Wealth Planners LLC boosted its holdings in shares of Progressive by 119.6% during the 2nd quarter. WR Wealth Planners LLC now owns 123 shares of the insurance provider’s stock worth $26,000 after purchasing an additional 67 shares during the last quarter. Hilltop National Bank boosted its holdings in shares of Progressive by 126.0% during the 2nd quarter. Hilltop National Bank now owns 165 shares of the insurance provider’s stock worth $34,000 after purchasing an additional 92 shares during the last quarter. DiNuzzo Private Wealth Inc. lifted its holdings in Progressive by 114.1% in the third quarter. DiNuzzo Private Wealth Inc. now owns 137 shares of the insurance provider’s stock valued at $35,000 after acquiring an additional 73 shares during the last quarter. Finally, LRI Investments LLC acquired a new position in Progressive in the first quarter valued at approximately $36,000. 85.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Keefe, Bruyette & Woods upped their price objective on Progressive from $280.00 to $290.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. HSBC upgraded Progressive from a “hold” rating to a “buy” rating and set a $253.00 price objective on the stock in a report on Monday, August 12th. BMO Capital Markets decreased their price objective on Progressive from $239.00 to $237.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. Roth Mkm upped their price objective on Progressive from $270.00 to $290.00 and gave the company a “buy” rating in a report on Monday, September 16th. Finally, Morgan Stanley upped their price objective on Progressive from $300.00 to $310.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Six investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $269.56.

Insider Transactions at Progressive

In related news, CEO Susan Patricia Griffith sold 43,370 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $252.20, for a total value of $10,937,914.00. Following the transaction, the chief executive officer now owns 473,735 shares of the company’s stock, valued at $119,475,967. This represents a 8.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Patrick K. Callahan sold 7,696 shares of the stock in a transaction on Friday, September 20th. The shares were sold at an average price of $255.21, for a total value of $1,964,096.16. Following the completion of the transaction, the insider now directly owns 15,189 shares in the company, valued at $3,876,384.69. This trade represents a 33.63 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 65,331 shares of company stock valued at $16,415,812. 0.34% of the stock is currently owned by company insiders.

Progressive Stock Down 0.7 %

Progressive stock opened at $255.78 on Friday. The Progressive Co. has a twelve month low of $149.14 and a twelve month high of $263.85. The stock’s fifty day simple moving average is $252.22 and its 200-day simple moving average is $229.98. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $149.84 billion, a P/E ratio of 18.59, a P/E/G ratio of 0.71 and a beta of 0.36.

Progressive (NYSE:PGR) last posted its quarterly earnings data on Tuesday, October 15th. The insurance provider reported $3.58 earnings per share for the quarter, topping analysts’ consensus estimates of $3.40 by $0.18. Progressive had a return on equity of 33.10% and a net margin of 11.27%. The business had revenue of $19.43 billion for the quarter, compared to analyst estimates of $18.95 billion. As a group, equities analysts expect that The Progressive Co. will post 13.09 earnings per share for the current fiscal year.

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.