Capital Performance Advisors LLP Buys New Position in The Progressive Co. (NYSE:PGR)

Capital Performance Advisors LLP bought a new stake in The Progressive Co. (NYSE:PGR) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 1,039 shares of the insurance provider’s stock, valued at approximately $264,000.

Other large investors have also recently added to or reduced their stakes in the company. Csenge Advisory Group bought a new stake in shares of Progressive in the 1st quarter valued at approximately $270,000. Advisory Services Network LLC boosted its stake in shares of Progressive by 12.7% in the 1st quarter. Advisory Services Network LLC now owns 17,880 shares of the insurance provider’s stock valued at $3,698,000 after purchasing an additional 2,016 shares in the last quarter. CFO4Life Group LLC acquired a new stake in shares of Progressive during the 1st quarter worth about $211,000. Envestnet Portfolio Solutions Inc. increased its holdings in Progressive by 20.3% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 31,718 shares of the insurance provider’s stock valued at $6,560,000 after purchasing an additional 5,354 shares in the last quarter. Finally, Empowered Funds LLC raised its holdings in shares of Progressive by 7.2% in the first quarter. Empowered Funds LLC now owns 17,110 shares of the insurance provider’s stock valued at $3,539,000 after buying an additional 1,153 shares during the last quarter. Institutional investors and hedge funds own 85.34% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on PGR. Evercore ISI lifted their target price on Progressive from $277.00 to $285.00 and gave the company an “outperform” rating in a research note on Wednesday. The Goldman Sachs Group increased their price target on Progressive from $262.00 to $280.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Bank of America lifted their price objective on Progressive from $319.00 to $331.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. BMO Capital Markets cut their target price on Progressive from $239.00 to $237.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Finally, Citigroup decreased their target price on Progressive from $232.00 to $225.00 and set a “neutral” rating for the company in a research report on Wednesday, July 17th. Seven equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Progressive currently has a consensus rating of “Moderate Buy” and an average target price of $265.63.

Progressive Stock Up 2.8 %

NYSE:PGR traded up $7.05 during trading hours on Friday, reaching $262.32. 318,050 shares of the stock were exchanged, compared to its average volume of 2,462,446. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.31 and a quick ratio of 0.31. The firm has a 50 day moving average of $251.12 and a 200 day moving average of $227.59. The Progressive Co. has a twelve month low of $149.14 and a twelve month high of $262.85. The stock has a market cap of $153.63 billion, a PE ratio of 18.55, a PEG ratio of 0.67 and a beta of 0.36.

Progressive (NYSE:PGR) last released its quarterly earnings results on Tuesday, October 15th. The insurance provider reported $3.58 earnings per share for the quarter, beating analysts’ consensus estimates of $3.40 by $0.18. Progressive had a net margin of 11.27% and a return on equity of 35.21%. The company had revenue of $19.43 billion during the quarter, compared to the consensus estimate of $18.95 billion. On average, equities analysts expect that The Progressive Co. will post 13.15 earnings per share for the current year.

Insider Buying and Selling

In other Progressive news, CEO Susan Patricia Griffith sold 43,370 shares of the firm’s 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 sale, the chief executive officer now owns 473,735 shares of the company’s stock, valued at approximately $119,475,967. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Progressive news, CEO Susan Patricia Griffith sold 43,370 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $252.20, for a total transaction of $10,937,914.00. Following the completion of the transaction, the chief executive officer now owns 473,735 shares of the company’s stock, valued at approximately $119,475,967. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Dyke Kahina Van sold 2,180 shares of the firm’s 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 completion of the sale, the director now owns 13,723 shares in the company, valued at $3,462,038.44. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 74,843 shares of company stock worth $18,674,912. Corporate insiders own 0.34% of the company’s stock.

About Progressive

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.