Progressive Corp (PGR) Shares Bought by Parametric Portfolio Associates LLC

Parametric Portfolio Associates LLC raised its position in shares of Progressive Corp (NYSE:PGR) by 16.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,282,097 shares of the insurance provider’s stock after purchasing an additional 178,930 shares during the period. Parametric Portfolio Associates LLC owned approximately 0.22% of Progressive worth $62,079,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Elkhorn Investments LLC increased its holdings in shares of Progressive by 0.5% during the second quarter. Elkhorn Investments LLC now owns 33,515 shares of the insurance provider’s stock worth $1,599,000 after buying an additional 160 shares in the last quarter. Great Lakes Advisors LLC increased its holdings in shares of Progressive by 2.0% during the second quarter. Great Lakes Advisors LLC now owns 15,225 shares of the insurance provider’s stock worth $671,000 after buying an additional 295 shares in the last quarter. Bradley Foster & Sargent Inc. CT increased its holdings in shares of Progressive by 1.4% during the second quarter. Bradley Foster & Sargent Inc. CT now owns 21,500 shares of the insurance provider’s stock worth $948,000 after buying an additional 300 shares in the last quarter. Flinton Capital Management LLC increased its holdings in shares of Progressive by 1.5% during the second quarter. Flinton Capital Management LLC now owns 23,088 shares of the insurance provider’s stock worth $1,018,000 after buying an additional 336 shares in the last quarter. Finally, IFP Advisors Inc increased its holdings in shares of Progressive by 12.9% during the second quarter. IFP Advisors Inc now owns 2,984 shares of the insurance provider’s stock worth $132,000 after buying an additional 341 shares in the last quarter. Institutional investors and hedge funds own 79.41% of the company’s stock.

Several research analysts have recently issued reports on the stock. FBR & Co reiterated a “hold” rating on shares of Progressive in a report on Tuesday, October 17th. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $60.00 price target on shares of Progressive in a report on Wednesday, December 6th. MKM Partners upped their price target on shares of Progressive to $60.00 and gave the stock a “buy” rating in a report on Thursday, November 16th. Credit Suisse Group reiterated a “hold” rating and set a $48.00 price target on shares of Progressive in a report on Friday. Finally, UBS lowered their price target on shares of Progressive from $53.00 to $52.00 and set a “buy” rating for the company in a report on Tuesday, September 19th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $50.41.

Shares of Progressive Corp (NYSE:PGR) opened at $55.20 on Tuesday. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 0.36. The firm has a market cap of $32,255.53, a price-to-earnings ratio of 24.22, a P/E/G ratio of 3.14 and a beta of 0.94. Progressive Corp has a one year low of $35.23 and a one year high of $56.23.

Progressive (NYSE:PGR) last issued its quarterly earnings results on Tuesday, October 17th. The insurance provider reported $0.41 EPS for the quarter, beating the Zacks’ consensus estimate of $0.34 by $0.07. The business had revenue of $7.14 billion for the quarter, compared to analysts’ expectations of $7.04 billion. Progressive had a net margin of 5.41% and a return on equity of 15.40%. The business’s quarterly revenue was up 18.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.34 earnings per share. analysts forecast that Progressive Corp will post 2.41 EPS for the current year.

In other news, CMO M Jeffrey Charney sold 6,000 shares of the stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $49.50, for a total transaction of $297,000.00. Following the transaction, the chief marketing officer now owns 102,038 shares of the company’s stock, valued at approximately $5,050,881. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jeffrey W. Basch sold 9,000 shares of the stock in a transaction dated Wednesday, October 18th. The stock was sold at an average price of $48.23, for a total transaction of $434,070.00. Following the transaction, the insider now directly owns 70,965 shares in the company, valued at approximately $3,422,641.95. The disclosure for this sale can be found here. Insiders have sold 21,000 shares of company stock worth $1,024,470 in the last ninety days. Insiders own 0.56% of the company’s stock.

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Progressive Company Profile

The Progressive Corporation is an insurance holding company. The Company’s insurance subsidiaries and affiliates provide personal and commercial automobile and property insurance, other specialty property-casualty insurance and related services. The Company operates through the Personal Lines, Commercial Lines and Property segments.

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Institutional Ownership by Quarter for Progressive (NYSE:PGR)

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