Charles Schwab Investment Management Inc. Buys 39,675 Shares of The Progressive Co. (NYSE:PGR)

Charles Schwab Investment Management Inc. increased its position in shares of The Progressive Co. (NYSE:PGR) by 1.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,836,218 shares of the insurance provider’s stock after purchasing an additional 39,675 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Progressive were worth $973,479,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Davis Capital Management acquired a new position in Progressive during the third quarter valued at approximately $25,000. WR Wealth Planners LLC grew its position in shares of Progressive by 119.6% in the 2nd quarter. WR Wealth Planners LLC now owns 123 shares of the insurance provider’s stock valued at $26,000 after buying an additional 67 shares during the last quarter. Hilltop National Bank lifted its stake in shares of Progressive by 126.0% in the second quarter. Hilltop National Bank now owns 165 shares of the insurance provider’s stock worth $34,000 after acquiring an additional 92 shares during the period. DiNuzzo Private Wealth Inc. boosted 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 bought a new position in Progressive during the first quarter worth $36,000. 85.34% of the stock is owned by institutional investors.

Progressive Trading Up 0.3 %

Shares of Progressive stock opened at $257.86 on Thursday. The firm has a market cap of $151.06 billion, a PE ratio of 18.68, a P/E/G ratio of 0.71 and a beta of 0.36. The Progressive Co. has a 1 year low of $149.14 and a 1 year high of $263.85. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.30 and a quick ratio of 0.30. The stock has a fifty day moving average price of $252.58 and a 200-day moving average price of $230.94.

Progressive (NYSE:PGR) last issued its earnings results on Tuesday, October 15th. The insurance provider reported $3.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.40 by $0.18. Progressive had a return on equity of 33.10% and a net margin of 11.27%. The firm had revenue of $19.43 billion for the quarter, compared to analyst estimates of $18.95 billion. Equities research analysts anticipate that The Progressive Co. will post 13.09 EPS for the current year.

Insider Buying and Selling

In related news, insider Patrick K. Callahan sold 7,696 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $255.21, for a total transaction of $1,964,096.16. Following the transaction, the insider now directly owns 15,189 shares of the company’s stock, valued at approximately $3,876,384.69. This trade represents a 33.63 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Dyke Kahina Van sold 2,180 shares of the stock in a transaction that occurred on Friday, September 27th. The shares were 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 $3,462,038.44. The trade was a 13.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 59,209 shares of company stock worth $14,975,979. Insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on PGR shares. Jefferies Financial Group increased their price target on Progressive from $257.00 to $295.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. TD Cowen boosted their target price on Progressive from $197.00 to $237.00 and gave the company a “hold” rating in a research report on Friday, November 8th. Morgan Stanley increased their price target on Progressive from $300.00 to $310.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. JPMorgan Chase & Co. upped their target price on Progressive from $242.00 to $251.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Finally, Wells Fargo & Company lifted their price objective on shares of Progressive from $281.00 to $282.00 and gave the company an “overweight” rating in a report on Tuesday, September 10th. Five research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $269.81.

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.