AEGON ASSET MANAGEMENT UK Plc Grows Position in The Progressive Co. (NYSE:PGR)

AEGON ASSET MANAGEMENT UK Plc grew its stake in The Progressive Co. (NYSE:PGR) by 0.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 169,661 shares of the insurance provider’s stock after acquiring an additional 1,152 shares during the quarter. AEGON ASSET MANAGEMENT UK Plc’s holdings in Progressive were worth $43,045,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in PGR. Davis Capital Management purchased a new stake in shares of Progressive during the third quarter worth about $25,000. WR Wealth Planners LLC boosted its position in Progressive by 119.6% during the second quarter. WR Wealth Planners LLC now owns 123 shares of the insurance provider’s stock worth $26,000 after acquiring an additional 67 shares during the last quarter. Hilltop National Bank raised its holdings in Progressive by 126.0% in the 2nd quarter. Hilltop National Bank now owns 165 shares of the insurance provider’s stock valued at $34,000 after acquiring an additional 92 shares during the last quarter. DiNuzzo Private Wealth Inc. lifted its stake in shares of Progressive by 114.1% during the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 137 shares of the insurance provider’s stock worth $35,000 after purchasing an additional 73 shares during the period. Finally, LRI Investments LLC acquired a new stake in shares of Progressive during the first quarter worth $36,000. Institutional investors and hedge funds own 85.34% of the company’s stock.

Progressive Trading Up 2.4 %

NYSE:PGR opened at $261.51 on Friday. The stock has a market cap of $153.20 billion, a price-to-earnings ratio of 19.01, a price-to-earnings-growth ratio of 0.72 and a beta of 0.36. The Progressive Co. has a one year low of $149.14 and a one year high of $263.39. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.31 and a current ratio of 0.30. The business’s 50-day simple moving average is $251.41 and its 200 day simple moving average is $228.12.

Progressive (NYSE:PGR) last released its earnings results 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 company had revenue of $19.43 billion during the quarter, compared to analysts’ expectations of $18.95 billion. Progressive had a return on equity of 33.10% and a net margin of 11.27%. As a group, sell-side analysts predict that The Progressive Co. will post 13.14 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Susan Patricia Griffith sold 43,370 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $252.20, for a total transaction of $10,937,914.00. Following the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CEO Susan Patricia Griffith sold 43,370 shares of the company’s stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 473,735 shares of the company’s stock, valued at approximately $119,475,967. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Dyke Kahina Van sold 2,180 shares of Progressive stock in a transaction on Friday, September 27th. The stock was sold at an average price of $252.28, for a total transaction of $549,970.40. Following the completion of the transaction, the director now directly owns 13,723 shares of the company’s stock, valued at approximately $3,462,038.44. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 74,843 shares of company stock valued at $18,674,912 in the last ninety days. Corporate insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on PGR. Evercore ISI raised their price target on Progressive from $277.00 to $285.00 and gave the stock an “outperform” rating in a research note on Wednesday. Citigroup cut their price target on shares of Progressive from $232.00 to $225.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 17th. The Goldman Sachs Group upped their price objective on Progressive from $262.00 to $280.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Piper Sandler lifted their target price on Progressive from $250.00 to $252.00 and gave the company an “overweight” rating in a report on Thursday, August 15th. Finally, BMO Capital Markets dropped their price target on Progressive from $239.00 to $237.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Seven 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 company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $269.56.

Progressive 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.