The Progressive Co. (NYSE:PGR) Shares Bought by Plato Investment Management Ltd

Plato Investment Management Ltd grew its stake in The Progressive Co. (NYSE:PGR) by 6.2% during the 3rd quarter, Holdings Channel reports. The firm owned 25,394 shares of the insurance provider’s stock after purchasing an additional 1,486 shares during the quarter. Plato Investment Management Ltd’s holdings in Progressive were worth $6,437,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of PGR. Vanguard Group Inc. boosted its holdings in Progressive by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 51,751,851 shares of the insurance provider’s stock worth $10,703,318,000 after buying an additional 285,070 shares during the last quarter. Capital International Investors boosted its stake in shares of Progressive by 15.7% in the first quarter. Capital International Investors now owns 4,925,019 shares of the insurance provider’s stock worth $1,018,592,000 after acquiring an additional 670,006 shares during the last quarter. Legal & General Group Plc increased its position in shares of Progressive by 1.9% during 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 purchasing an additional 92,212 shares in the last quarter. American Century Companies Inc. raised its stake in Progressive by 3.0% in the 2nd quarter. American Century Companies Inc. now owns 2,392,773 shares of the insurance provider’s stock valued at $497,003,000 after purchasing an additional 69,709 shares during the last quarter. Finally, 1832 Asset Management L.P. lifted its holdings in Progressive by 13.5% in the 1st quarter. 1832 Asset Management L.P. now owns 1,685,868 shares of the insurance provider’s stock valued at $348,671,000 after purchasing an additional 200,118 shares in the last quarter. Hedge funds and other institutional investors own 85.34% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Bank of America increased their target price on shares of Progressive from $319.00 to $331.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. BMO Capital Markets lowered their price objective on Progressive from $239.00 to $237.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Keefe, Bruyette & Woods lifted their price target on Progressive from $280.00 to $290.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Roth Mkm raised their price objective on shares of Progressive from $270.00 to $290.00 and gave the stock a “buy” rating in a research report on Monday, September 16th. Finally, Wells Fargo & Company boosted their target price on shares of Progressive from $281.00 to $282.00 and gave the company an “overweight” rating in a report on Tuesday, September 10th. Seven equities 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. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $269.56.

Progressive Stock Performance

NYSE PGR opened at $261.37 on Thursday. 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 $153.11 billion, a P/E ratio of 18.99, a P/E/G ratio of 0.73 and a beta of 0.36. The stock has a 50-day moving average of $251.77 and a two-hundred day moving average of $229.06. The Progressive Co. has a 1-year low of $149.14 and a 1-year high of $263.85.

Progressive (NYSE:PGR) last announced its quarterly earnings data on Tuesday, October 15th. The insurance provider reported $3.58 earnings per share for the quarter, beating analysts’ consensus estimates of $3.40 by $0.18. The firm had revenue of $19.43 billion during the quarter, compared to analysts’ expectations of $18.95 billion. Progressive had a net margin of 11.27% and a return on equity of 33.10%. As a group, analysts anticipate that The Progressive Co. will post 13.15 EPS for the current year.

Insiders Place Their Bets

In related news, insider Steven Broz sold 2,981 shares of Progressive stock in a transaction on Monday, October 21st. The stock was sold at an average price of $251.15, for a total value of $748,678.15. Following the completion of the transaction, the insider now directly owns 26,353 shares in the company, valued at approximately $6,618,555.95. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, insider Steven Broz sold 2,981 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now owns 26,353 shares of the company’s stock, valued at $6,618,555.95. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Susan Patricia Griffith sold 43,370 shares of Progressive 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 completion of the transaction, the chief executive officer now owns 473,735 shares of the company’s stock, valued at $119,475,967. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 65,331 shares of company stock worth $16,415,812 over the last 90 days. Corporate insiders own 0.34% of the company’s stock.

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.