The Progressive Co. (NYSE:PGR) Shares Sold by Thompson Siegel & Walmsley LLC

Thompson Siegel & Walmsley LLC trimmed its position in The Progressive Co. (NYSE:PGR) by 4.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 85,877 shares of the insurance provider’s stock after selling 3,804 shares during the quarter. Thompson Siegel & Walmsley LLC’s holdings in Progressive were worth $21,792,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of PGR. Diversified Trust Co boosted its position in shares of Progressive by 84.3% during the 3rd quarter. Diversified Trust Co now owns 25,738 shares of the insurance provider’s stock worth $6,531,000 after acquiring an additional 11,770 shares in the last quarter. Sycomore Asset Management increased its stake in Progressive by 9.5% in the second quarter. Sycomore Asset Management now owns 28,128 shares of the insurance provider’s stock valued at $5,856,000 after purchasing an additional 2,450 shares during the last quarter. Sumitomo Life Insurance Co. acquired a new stake in Progressive during the second quarter worth approximately $981,000. Tidal Investments LLC lifted its position in shares of Progressive by 22.2% during the 1st quarter. Tidal Investments LLC now owns 31,330 shares of the insurance provider’s stock worth $6,480,000 after buying an additional 5,691 shares during the last quarter. Finally, Advisors Asset Management Inc. boosted its holdings in shares of Progressive by 88.7% in the 1st quarter. Advisors Asset Management Inc. now owns 7,626 shares of the insurance provider’s stock valued at $1,577,000 after buying an additional 3,585 shares in the last quarter. 85.34% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Steven Broz sold 2,982 shares of the stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $260.00, for a total value of $775,320.00. Following the sale, the insider now directly owns 29,334 shares in the company, valued at $7,626,840. This represents a 9.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Susan Patricia Griffith sold 43,370 shares of Progressive stock in a transaction that occurred 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 disclosure for this sale can be found here. In the last three months, insiders sold 59,209 shares of company stock worth $14,975,979. Company insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on PGR. The Goldman Sachs Group upped their price objective on shares of Progressive from $262.00 to $280.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Piper Sandler raised their price target on Progressive from $250.00 to $252.00 and gave the stock an “overweight” rating in a research note on Thursday, August 15th. Jefferies Financial Group boosted their price objective on Progressive from $257.00 to $295.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Barclays raised their target price on shares of Progressive from $267.00 to $277.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 23rd. Finally, Evercore ISI upped their price target on shares of Progressive from $277.00 to $285.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. Five investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $269.81.

Progressive Price Performance

Progressive stock opened at $256.99 on Thursday. 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 one year low of $149.14 and a one year high of $263.85. The company has a market cap of $150.54 billion, a P/E ratio of 18.68, a price-to-earnings-growth ratio of 0.71 and a beta of 0.36. The business has a fifty day moving average of $252.58 and a two-hundred day moving average of $230.94.

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

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.