The Progressive Co. (NYSE:PGR) Shares Sold by Thompson Siegel & Walmsley LLC

Thompson Siegel & Walmsley LLC lowered its holdings in shares of The Progressive Co. (NYSE:PGR) by 4.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 85,877 shares of the insurance provider’s stock after selling 3,804 shares during the quarter. Thompson Siegel & Walmsley LLC’s holdings in Progressive were worth $21,792,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. LPL Financial LLC lifted its position in shares of Progressive by 20.5% during the 3rd quarter. LPL Financial LLC now owns 391,273 shares of the insurance provider’s stock valued at $99,290,000 after buying an additional 66,628 shares in the last quarter. Trustmark National Bank Trust Department lifted its holdings in Progressive by 40.2% during the third quarter. Trustmark National Bank Trust Department now owns 1,363 shares of the insurance provider’s stock valued at $346,000 after purchasing an additional 391 shares in the last quarter. Intech Investment Management LLC grew its position in shares of Progressive by 6.7% in the third quarter. Intech Investment Management LLC now owns 413,293 shares of the insurance provider’s stock valued at $104,877,000 after purchasing an additional 25,838 shares during the period. Cornerstone Advisors LLC increased its stake in shares of Progressive by 0.8% during the third quarter. Cornerstone Advisors LLC now owns 36,600 shares of the insurance provider’s stock worth $9,288,000 after purchasing an additional 300 shares in the last quarter. Finally, Citizens Financial Group Inc. RI raised its position in shares of Progressive by 11.0% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 14,381 shares of the insurance provider’s stock worth $3,649,000 after purchasing an additional 1,421 shares during the last quarter. 85.34% of the stock is owned by institutional investors and hedge funds.

Progressive Stock Performance

Shares of PGR stock opened at $256.99 on Thursday. The Progressive Co. has a one year low of $149.14 and a one year high of $263.85. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.30 and a current ratio of 0.30. The firm’s 50 day moving average price is $252.58 and its 200-day moving average price is $230.94. The firm has a market cap of $150.54 billion, a P/E ratio of 18.68, a P/E/G ratio of 0.71 and a beta of 0.36.

Progressive (NYSE:PGR) last released its quarterly earnings results on Tuesday, October 15th. The insurance provider reported $3.58 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 company had revenue of $19.43 billion for the quarter, compared to analysts’ expectations of $18.95 billion. As a group, equities research analysts predict that The Progressive Co. will post 13.09 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on PGR shares. Morgan Stanley lifted their price objective on Progressive from $300.00 to $310.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. StockNews.com upgraded Progressive from a “hold” rating to a “buy” rating in a research report on Tuesday. Keefe, Bruyette & Woods raised their price objective on Progressive from $280.00 to $290.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Jefferies Financial Group increased their target price on shares of Progressive from $257.00 to $295.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Finally, TD Cowen boosted their price target on shares of Progressive from $197.00 to $237.00 and gave the stock a “hold” rating in a research report on Friday, November 8th. Five research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $269.81.

Insider Buying and Selling

In related news, insider Steven Broz sold 2,982 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $260.00, for a total transaction of $775,320.00. Following the sale, the insider now directly owns 29,334 shares of the company’s stock, valued at $7,626,840. This represents a 9.23 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Susan Patricia Griffith sold 43,370 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now directly owns 473,735 shares of the company’s stock, valued at $119,475,967. This represents a 8.39 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 59,209 shares of company stock valued at $14,975,979. 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.