CenterBook Partners LP Has $2.13 Million Position in The Progressive Corporation $PGR

CenterBook Partners LP increased its position in The Progressive Corporation (NYSE:PGR) by 36.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 7,994 shares of the insurance provider’s stock after purchasing an additional 2,151 shares during the quarter. CenterBook Partners LP’s holdings in Progressive were worth $2,133,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of PGR. AlphaCore Capital LLC lifted its position in shares of Progressive by 15.0% in the second quarter. AlphaCore Capital LLC now owns 2,754 shares of the insurance provider’s stock valued at $735,000 after buying an additional 359 shares during the last quarter. Mufg Securities Americas Inc. raised its stake in Progressive by 25.3% in the 2nd quarter. Mufg Securities Americas Inc. now owns 12,992 shares of the insurance provider’s stock valued at $3,467,000 after acquiring an additional 2,623 shares during the period. AXQ Capital LP acquired a new stake in Progressive during the 2nd quarter valued at $532,000. Journey Strategic Wealth LLC lifted its holdings in Progressive by 83.6% during the 2nd quarter. Journey Strategic Wealth LLC now owns 3,901 shares of the insurance provider’s stock valued at $1,041,000 after purchasing an additional 1,776 shares during the last quarter. Finally, Fidato Wealth LLC bought a new position in Progressive during the second quarter worth $464,000. Institutional investors own 85.34% of the company’s stock.

Analyst Ratings Changes

PGR has been the topic of several research analyst reports. Cantor Fitzgerald raised shares of Progressive to a “hold” rating in a research report on Wednesday, August 13th. JPMorgan Chase & Co. increased their price target on shares of Progressive from $301.00 to $303.00 and gave the company an “overweight” rating in a report on Thursday, October 9th. The Goldman Sachs Group reduced their price objective on Progressive from $276.00 to $245.00 and set a “buy” rating for the company in a report on Monday, October 27th. Bank of America decreased their target price on Progressive from $351.00 to $346.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, Barclays lowered their target price on Progressive from $271.00 to $257.00 and set an “equal weight” rating on the stock in a research note on Monday, October 20th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $266.52.

Insider Buying and Selling

In other news, insider Steven Broz sold 1,345 shares of the company’s stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $220.00, for a total transaction of $295,900.00. Following the completion of the sale, the insider owned 29,043 shares of the company’s stock, valued at approximately $6,389,460. This represents a 4.43% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider John Jo Murphy sold 2,218 shares of Progressive stock in a transaction that occurred on Friday, September 19th. The shares were sold at an average price of $242.10, for a total transaction of $536,977.80. Following the completion of the transaction, the insider directly owned 43,506 shares in the company, valued at $10,532,802.60. This trade represents a 4.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 41,987 shares of company stock worth $10,257,508 in the last ninety days. 0.34% of the stock is owned by company insiders.

Progressive Stock Up 0.4%

NYSE PGR opened at $226.99 on Friday. The company has a market cap of $133.11 billion, a price-to-earnings ratio of 12.45, a PEG ratio of 1.19 and a beta of 0.29. The Progressive Corporation has a 1-year low of $199.90 and a 1-year high of $292.99. The company has a current ratio of 0.32, a quick ratio of 0.31 and a debt-to-equity ratio of 0.19. The company has a 50 day moving average of $228.90 and a 200-day moving average of $248.44.

Progressive (NYSE:PGR) last posted its quarterly earnings data on Wednesday, October 15th. The insurance provider reported $4.45 EPS for the quarter, missing analysts’ consensus estimates of $5.04 by ($0.59). The company had revenue of $21.38 billion for the quarter, compared to the consensus estimate of $21.64 billion. Progressive had a return on equity of 33.88% and a net margin of 12.57%.During the same quarter last year, the business earned $3.58 EPS. On average, equities research analysts expect that The Progressive Corporation will post 14.68 earnings per share for the current fiscal year.

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.