GAM Holding AG lifted its stake in shares of Progressive Corp (NYSE:PGR) by 13.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 25,223 shares of the insurance provider’s stock after purchasing an additional 3,040 shares during the period. GAM Holding AG’s holdings in Progressive were worth $1,791,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Raymond James Trust N.A. boosted its holdings in shares of Progressive by 4.0% in the third quarter. Raymond James Trust N.A. now owns 39,766 shares of the insurance provider’s stock valued at $2,825,000 after buying an additional 1,536 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Progressive by 25.2% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 70,555 shares of the insurance provider’s stock valued at $5,012,000 after buying an additional 14,191 shares during the period. Standard Life Aberdeen plc boosted its holdings in shares of Progressive by 31.9% in the third quarter. Standard Life Aberdeen plc now owns 457,670 shares of the insurance provider’s stock valued at $32,513,000 after buying an additional 110,697 shares during the period. AMP Capital Investors Ltd boosted its holdings in shares of Progressive by 10.7% in the third quarter. AMP Capital Investors Ltd now owns 525,205 shares of the insurance provider’s stock valued at $36,931,000 after buying an additional 50,769 shares during the period. Finally, Blair William & Co. IL boosted its holdings in shares of Progressive by 31.7% in the third quarter. Blair William & Co. IL now owns 1,264,765 shares of the insurance provider’s stock valued at $89,849,000 after buying an additional 304,189 shares during the period. Institutional investors own 80.24% of the company’s stock.

Several research analysts have recently weighed in on the stock. UBS Group upped their price target on shares of Progressive from $70.00 to $78.00 and gave the company a “buy” rating in a report on Wednesday, September 19th. Zacks Investment Research cut shares of Progressive from a “buy” rating to a “hold” rating in a report on Wednesday, September 19th. B. Riley upped their price target on shares of Progressive from $68.00 to $71.00 and gave the company a “neutral” rating in a report on Monday, October 8th. Wells Fargo & Co set a $69.00 price target on shares of Progressive and gave the company a “hold” rating in a report on Tuesday, October 16th. Finally, ValuEngine upgraded shares of Progressive from a “hold” rating to a “buy” rating in a report on Tuesday, September 4th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Progressive has an average rating of “Hold” and an average price target of $70.93.

Shares of PGR opened at $64.63 on Thursday. Progressive Corp has a 12 month low of $50.79 and a 12 month high of $73.69. The firm has a market cap of $37.65 billion, a P/E ratio of 24.57, a price-to-earnings-growth ratio of 1.86 and a beta of 0.68. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.34.

Progressive (NYSE:PGR) last announced its earnings results on Tuesday, October 16th. The insurance provider reported $1.57 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.14 by $0.43. Progressive had a net margin of 9.42% and a return on equity of 27.45%. The business had revenue of $8.60 billion during the quarter, compared to analysts’ expectations of $8.43 billion. During the same quarter in the prior year, the company posted $0.38 earnings per share. The firm’s revenue was up 20.5% on a year-over-year basis. As a group, equities research analysts predict that Progressive Corp will post 4.75 EPS for the current year.

In related news, insider John A. Barbagallo sold 50,000 shares of the stock in a transaction on Friday, October 26th. The shares were sold at an average price of $68.02, for a total transaction of $3,401,000.00. Following the completion of the transaction, the insider now owns 177,368 shares in the company, valued at $12,064,571.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Susan Patricia Griffith sold 12,600 shares of the stock in a transaction on Thursday, November 15th. The stock was sold at an average price of $64.87, for a total transaction of $817,362.00. Following the transaction, the insider now owns 253,256 shares of the company’s stock, valued at approximately $16,428,716.72. The disclosure for this sale can be found here. Corporate insiders own 0.70% of the company’s stock.

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Progressive Company Profile

The Progressive Corporation, through its subsidiaries, provides personal and commercial auto insurance, residential property insurance, and other specialty property-casualty insurance and related services primarily in the United States. Its Personal Lines segment writes insurance for personal autos, and recreational and other vehicles.

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Institutional Ownership by Quarter for Progressive (NYSE:PGR)

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