Everett Harris & Co. CA Has $36.30 Million Holdings in The Progressive Corporation $PGR

Everett Harris & Co. CA cut its position in The Progressive Corporation (NYSE:PGR) by 0.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 136,026 shares of the insurance provider’s stock after selling 800 shares during the quarter. Everett Harris & Co. CA’s holdings in Progressive were worth $36,300,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PGR. Atlantic Union Bankshares Corp bought a new position in shares of Progressive in the 2nd quarter valued at about $33,000. Westside Investment Management Inc. lifted its stake in Progressive by 900.0% in the 2nd quarter. Westside Investment Management Inc. now owns 130 shares of the insurance provider’s stock valued at $34,000 after purchasing an additional 117 shares during the last quarter. Ransom Advisory Ltd acquired a new stake in Progressive in the 1st quarter valued at about $35,000. Activest Wealth Management grew its holdings in Progressive by 6,350.0% during the first quarter. Activest Wealth Management now owns 129 shares of the insurance provider’s stock worth $37,000 after purchasing an additional 127 shares during the period. Finally, Richardson Financial Services Inc. increased its position in Progressive by 1,885.7% during the second quarter. Richardson Financial Services Inc. now owns 139 shares of the insurance provider’s stock worth $37,000 after buying an additional 132 shares during the last quarter. 85.34% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on PGR. Cantor Fitzgerald raised Progressive to a “hold” rating in a research report on Wednesday, August 13th. UBS Group dropped their price target on Progressive from $268.00 to $261.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 8th. Morgan Stanley set a $214.00 price objective on shares of Progressive and gave the stock an “underweight” rating in a research report on Monday, October 20th. Jefferies Financial Group decreased their price objective on shares of Progressive from $309.00 to $287.00 and set a “buy” rating on the stock in a report on Monday, August 11th. Finally, Bank of America raised their target price on shares of Progressive from $350.00 to $351.00 and gave the stock a “buy” rating in a research note on Thursday, October 16th. Eight investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Progressive has an average rating of “Hold” and an average target price of $269.90.

Progressive Stock Up 1.0%

PGR stock opened at $219.73 on Wednesday. The Progressive Corporation has a fifty-two week low of $199.90 and a fifty-two week high of $292.99. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.32 and a quick ratio of 0.31. The stock has a market capitalization of $128.85 billion, a price-to-earnings ratio of 12.05, a PEG ratio of 1.19 and a beta of 0.29. The business’s fifty day moving average price is $232.41 and its two-hundred day moving average price is $251.30.

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

Insider Transactions at Progressive

In other Progressive news, insider Patrick K. Callahan sold 6,420 shares of the stock in a transaction that occurred on Friday, September 19th. The shares were sold at an average price of $242.22, for a total transaction of $1,555,052.40. Following the transaction, the insider owned 15,192 shares in the company, valued at $3,679,806.24. This represents a 29.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Lori A. Niederst sold 8,063 shares of Progressive stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $250.18, for a total transaction of $2,017,201.34. Following the completion of the sale, the insider owned 39,040 shares of the company’s stock, valued at approximately $9,767,027.20. The trade was a 17.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 58,500 shares of company stock worth $14,430,089. Company 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.