The Progressive Co. (NYSE:PGR) Shares Sold by Lindbrook Capital LLC

Lindbrook Capital LLC trimmed its holdings in shares of The Progressive Co. (NYSE:PGR) by 1.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,235 shares of the insurance provider’s stock after selling 69 shares during the period. Lindbrook Capital LLC’s holdings in Progressive were worth $1,328,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in Progressive by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 51,751,851 shares of the insurance provider’s stock worth $10,703,318,000 after purchasing an additional 285,070 shares during the period. Capital International Investors lifted its stake in shares of Progressive by 15.7% during the first quarter. Capital International Investors now owns 4,925,019 shares of the insurance provider’s stock worth $1,018,592,000 after purchasing an additional 670,006 shares in the last quarter. Legal & General Group Plc boosted its position in shares of Progressive by 1.9% in the second quarter. Legal & General Group Plc now owns 4,922,743 shares of the insurance provider’s stock worth $1,022,507,000 after buying an additional 92,212 shares during the period. American Century Companies Inc. grew its stake in shares of Progressive by 3.0% in the second quarter. American Century Companies Inc. now owns 2,392,773 shares of the insurance provider’s stock valued at $497,003,000 after buying an additional 69,709 shares in the last quarter. Finally, TD Asset Management Inc raised its holdings in shares of Progressive by 16.8% during the 1st quarter. TD Asset Management Inc now owns 1,698,526 shares of the insurance provider’s stock valued at $351,289,000 after buying an additional 244,541 shares during the period. 85.34% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Progressive

In other news, insider Steven Broz sold 6,122 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $235.19, for a total transaction of $1,439,833.18. Following the sale, the insider now directly owns 32,316 shares in the company, valued at approximately $7,600,400.04. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Progressive news, insider Patrick K. Callahan sold 7,696 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $255.21, for a total value of $1,964,096.16. Following the completion of the transaction, the insider now owns 15,189 shares in the company, valued at approximately $3,876,384.69. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Steven Broz sold 6,122 shares of Progressive stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $235.19, for a total value of $1,439,833.18. Following the sale, the insider now directly owns 32,316 shares in the company, valued at approximately $7,600,400.04. This trade 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 worth $18,674,912 over the last ninety days. Company insiders own 0.34% of the company’s stock.

Progressive Stock Performance

PGR stock opened at $261.51 on Friday. The firm has a market cap of $153.20 billion, a P/E ratio of 19.01, a P/E/G ratio of 0.72 and a beta of 0.36. The stock’s 50 day simple moving average is $251.41 and its 200 day simple moving average is $228.12. The company has a current ratio of 0.30, a quick ratio of 0.31 and a debt-to-equity ratio of 0.25. The Progressive Co. has a 12-month low of $149.14 and a 12-month high of $263.39.

Progressive (NYSE:PGR) last posted its quarterly earnings results on Tuesday, October 15th. The insurance provider reported $3.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.40 by $0.18. Progressive had a net margin of 11.27% and a return on equity of 33.10%. The company had revenue of $19.43 billion for the quarter, compared to the consensus estimate of $18.95 billion. As a group, equities research analysts predict that The Progressive Co. will post 13.14 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have weighed in on PGR. HSBC upgraded Progressive from a “hold” rating to a “buy” rating and set a $253.00 price target for the company in a report on Monday, August 12th. Wells Fargo & Company upped their target price on shares of Progressive from $281.00 to $282.00 and gave the company an “overweight” rating in a research note on Tuesday, September 10th. Bank of America lifted their price target on shares of Progressive from $319.00 to $331.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. StockNews.com cut shares of Progressive from a “buy” rating to a “hold” rating in a research report on Friday, November 1st. Finally, JPMorgan Chase & Co. raised their target price on Progressive from $242.00 to $251.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Seven equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price 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.