The Progressive Co. (NYSE:PGR) Shares Purchased by Advisors Asset Management Inc.

Advisors Asset Management Inc. increased its position in shares of The Progressive Co. (NYSE:PGR) by 29.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,240 shares of the insurance provider’s stock after purchasing an additional 3,498 shares during the period. Advisors Asset Management Inc.’s holdings in Progressive were worth $3,867,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Legal & General Group Plc lifted its holdings in Progressive by 1.9% in the second quarter. Legal & General Group Plc now owns 4,922,743 shares of the insurance provider’s stock valued at $1,022,507,000 after acquiring an additional 92,212 shares during the last quarter. Jennison Associates LLC lifted its stake in shares of Progressive by 21.6% in the 3rd quarter. Jennison Associates LLC now owns 4,749,628 shares of the insurance provider’s stock valued at $1,205,266,000 after purchasing an additional 842,109 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of Progressive by 3.0% in the 2nd quarter. American Century Companies Inc. now owns 2,392,773 shares of the insurance provider’s stock valued at $497,003,000 after purchasing an additional 69,709 shares during the last quarter. Swiss National Bank increased its position in shares of Progressive by 0.3% during the 3rd quarter. Swiss National Bank now owns 1,738,400 shares of the insurance provider’s stock worth $441,136,000 after purchasing an additional 4,400 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Progressive by 20.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,467,191 shares of the insurance provider’s stock valued at $304,775,000 after buying an additional 247,144 shares during the period. 85.34% of the stock is owned by hedge funds and other institutional investors.

Progressive Trading Up 1.0 %

NYSE:PGR opened at $266.04 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.30 and a current ratio of 0.30. The Progressive Co. has a 1 year low of $149.14 and a 1 year high of $266.18. The stock has a market cap of $155.85 billion, a P/E ratio of 19.33, a P/E/G ratio of 0.71 and a beta of 0.36. The stock has a 50-day simple moving average of $253.06 and a 200-day simple moving average of $231.52.

Progressive (NYSE:PGR) last released 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 net margin of 11.27% and a return on equity of 33.10%. The company had revenue of $19.43 billion for the quarter, compared to analysts’ expectations of $18.95 billion. As a group, analysts anticipate that The Progressive Co. will post 13.09 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on PGR shares. JPMorgan Chase & Co. increased their target price on shares of Progressive from $242.00 to $251.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. 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. Wells Fargo & Company raised their target price on Progressive from $281.00 to $282.00 and gave the company an “overweight” rating in a report on Tuesday, September 10th. Bank of America boosted their price target on shares of Progressive from $331.00 to $335.00 and gave the stock a “buy” rating in a research note on Monday, November 18th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Progressive from $280.00 to $290.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Five analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $269.81.

Insider Activity at Progressive

In other Progressive news, insider Patrick K. Callahan sold 7,696 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $255.21, for a total value of $1,964,096.16. Following the completion of the sale, the insider now owns 15,189 shares in the company, valued at approximately $3,876,384.69. The trade was a 33.63 % 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, Director Dyke Kahina Van sold 2,180 shares of the firm’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $252.28, for a total transaction of $549,970.40. Following the transaction, the director now owns 13,723 shares in the company, valued at approximately $3,462,038.44. This trade represents a 13.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 59,209 shares of company stock valued at $14,975,979 over the last ninety days. Insiders own 0.34% of the company’s stock.

Progressive 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.