The Progressive Co. (NYSE:PGR) Position Increased by Haverford Trust Co

Haverford Trust Co increased its stake in The Progressive Co. (NYSE:PGR) by 6.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,990 shares of the insurance provider’s stock after purchasing an additional 351 shares during the period. Haverford Trust Co’s holdings in Progressive were worth $1,520,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in PGR. Canada Pension Plan Investment Board lifted its holdings in shares of Progressive by 548.2% in the 1st quarter. Canada Pension Plan Investment Board now owns 811,653 shares of the insurance provider’s stock worth $167,866,000 after purchasing an additional 686,433 shares during the last quarter. Capital International Investors lifted its holdings in shares of Progressive by 15.7% in the 1st 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 during the last quarter. International Assets Investment Management LLC raised its stake in Progressive by 29,701.6% during the 3rd quarter. International Assets Investment Management LLC now owns 596,331 shares of the insurance provider’s stock valued at $151,325,000 after acquiring an additional 594,330 shares in the last quarter. SG Americas Securities LLC raised its stake in Progressive by 206.8% during the 3rd quarter. SG Americas Securities LLC now owns 875,660 shares of the insurance provider’s stock valued at $222,207,000 after acquiring an additional 590,235 shares in the last quarter. Finally, Swedbank AB bought a new stake in Progressive during the 1st quarter valued at $116,852,000. Institutional investors own 85.34% of the company’s stock.

Analyst Upgrades and Downgrades

PGR has been the topic of several recent analyst reports. Jefferies Financial Group lifted their target price on Progressive from $257.00 to $295.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Morgan Stanley upped their price target on Progressive from $300.00 to $310.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. BMO Capital Markets lowered their target price on Progressive from $239.00 to $237.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Hsbc Global Res upgraded Progressive from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 12th. Finally, Wells Fargo & Company boosted their target price on Progressive from $281.00 to $282.00 and gave the company an “overweight” rating in a research note on Tuesday, September 10th. Seven equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Progressive has an average rating of “Moderate Buy” and an average price target of $269.56.

Progressive Trading Down 0.4 %

Shares of PGR opened at $261.37 on Thursday. The Progressive Co. has a 1 year low of $149.14 and a 1 year high of $263.85. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.25. The stock has a 50 day simple moving average of $251.77 and a 200-day simple moving average of $229.06. The stock has a market cap of $153.11 billion, a PE ratio of 18.99, a PEG ratio of 0.73 and a beta of 0.36.

Progressive (NYSE:PGR) last issued its 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 return on equity of 33.10% and a net margin of 11.27%. The business had revenue of $19.43 billion during the quarter, compared to analysts’ expectations of $18.95 billion. On average, sell-side analysts predict that The Progressive Co. will post 13.15 EPS for the current fiscal year.

Insider Transactions at Progressive

In related news, insider Steven Broz sold 6,122 shares of the firm’s stock in a transaction 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 completion of the sale, the insider now directly owns 32,316 shares of the company’s stock, valued at $7,600,400.04. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Progressive news, CEO Susan Patricia Griffith sold 43,370 shares of the stock in a transaction 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 directly owns 473,735 shares in the company, valued at approximately $119,475,967. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Steven Broz sold 6,122 shares of the stock in a transaction 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 completion of the transaction, the insider now owns 32,316 shares in the company, valued at $7,600,400.04. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 65,331 shares of company stock valued at $16,415,812. Corporate insiders own 0.34% of the company’s stock.

Progressive Company 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.