Banco Santander S.A. Buys 12,845 Shares of The Progressive Co. (NYSE:PGR)

Banco Santander S.A. raised its position in shares of The Progressive Co. (NYSE:PGR) by 14.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 104,276 shares of the insurance provider’s stock after purchasing an additional 12,845 shares during the period. Banco Santander S.A.’s holdings in Progressive were worth $26,461,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of PGR. Davis Capital Management bought a new stake in Progressive during the 3rd quarter valued at $25,000. WR Wealth Planners LLC boosted its holdings 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 worth $26,000 after purchasing an additional 67 shares in the last quarter. DiNuzzo Private Wealth Inc. grew its position in Progressive by 114.1% during 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. Hilltop National Bank raised its stake in shares of Progressive by 126.0% during 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 in the last quarter. Finally, LRI Investments LLC purchased a new stake in shares of Progressive in the 1st quarter valued at $36,000. 85.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PGR has been the topic of several recent research reports. BMO Capital Markets reduced their price target on Progressive from $239.00 to $237.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. Wells Fargo & Company lifted their price target on Progressive from $281.00 to $282.00 and gave the company an “overweight” rating in a research report on Tuesday, September 10th. Bank of America raised their price objective on Progressive from $331.00 to $335.00 and gave the company a “buy” rating in a research report on Monday. Keefe, Bruyette & Woods upped their target price on shares of Progressive from $280.00 to $290.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Finally, Piper Sandler boosted their price objective on shares of Progressive from $250.00 to $252.00 and gave the stock an “overweight” rating in a research note on Thursday, August 15th. Five research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $269.81.

Progressive Price Performance

NYSE PGR opened at $258.00 on Thursday. The stock’s fifty day moving average price is $252.58 and its 200 day moving average price is $230.94. 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 company has a market cap of $151.14 billion, a price-to-earnings ratio of 18.68, a PEG ratio of 0.71 and a beta of 0.36.

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

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 sale, the insider now owns 15,189 shares of the company’s stock, valued at $3,876,384.69. The trade was a 33.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Steven Broz sold 2,981 shares of the business’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $251.15, for a total value of $748,678.15. Following the completion of the sale, the insider now owns 26,353 shares in the company, valued at $6,618,555.95. This represents a 10.16 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 59,209 shares of company stock valued at $14,975,979. 0.34% of the stock is owned by insiders.

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.