Groupe la Francaise Increases Holdings in The Progressive Corporation $PGR

Groupe la Francaise boosted its position in The Progressive Corporation (NYSE:PGR) by 2,530.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,725 shares of the insurance provider’s stock after purchasing an additional 35,329 shares during the period. Groupe la Francaise’s holdings in Progressive were worth $9,788,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Rise Advisors LLC grew its holdings in Progressive by 7.4% in the first quarter. Rise Advisors LLC now owns 521 shares of the insurance provider’s stock valued at $147,000 after purchasing an additional 36 shares during the last quarter. LRI Investments LLC grew its stake in Progressive by 13.4% in the 2nd quarter. LRI Investments LLC now owns 338 shares of the insurance provider’s stock valued at $90,000 after acquiring an additional 40 shares during the last quarter. True North Advisors LLC grew its stake in Progressive by 4.0% in the 1st quarter. True North Advisors LLC now owns 1,055 shares of the insurance provider’s stock valued at $299,000 after acquiring an additional 41 shares during the last quarter. CVA Family Office LLC increased its holdings in Progressive by 4.2% during the 2nd quarter. CVA Family Office LLC now owns 1,053 shares of the insurance provider’s stock valued at $281,000 after acquiring an additional 42 shares in the last quarter. Finally, Bell Investment Advisors Inc raised its position in Progressive by 20.8% during the second quarter. Bell Investment Advisors Inc now owns 256 shares of the insurance provider’s stock worth $68,000 after acquiring an additional 44 shares during the last quarter. 85.34% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently commented on PGR. The Goldman Sachs Group lowered their price target on shares of Progressive from $276.00 to $245.00 and set a “buy” rating on the stock in a research report on Monday, October 27th. Evercore ISI lowered their target price on Progressive from $275.00 to $273.00 and set an “in-line” rating on the stock in a report on Wednesday, October 1st. HSBC set a $259.00 price target on Progressive and gave the stock an “underperform” rating in a report on Monday, November 17th. BMO Capital Markets increased their price objective on Progressive from $247.00 to $260.00 and gave the company a “market perform” rating in a research note on Friday, November 21st. Finally, JPMorgan Chase & Co. lifted their price objective on Progressive from $301.00 to $303.00 and gave the stock an “overweight” rating in a research report on Thursday, October 9th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Progressive currently has a consensus rating of “Hold” and an average target price of $266.52.

Progressive Stock Performance

NYSE PGR opened at $228.62 on Wednesday. The business’s 50-day moving average price is $226.85 and its 200 day moving average price is $245.49. 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 Progressive Corporation has a twelve month low of $199.90 and a twelve month high of $292.99. The company has a market capitalization of $134.06 billion, a PE ratio of 12.54, a price-to-earnings-growth ratio of 1.19 and a beta of 0.29.

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 analyst estimates of $21.64 billion. Progressive had a net margin of 12.57% and a return on equity of 33.88%. During the same period in the prior year, the company earned $3.58 EPS. On average, research analysts predict that The Progressive Corporation will post 14.68 earnings per share for the current year.

Insider Activity 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 of the company’s stock, valued at $3,679,806.24. This trade represents a 29.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO John P. Sauerland sold 5,000 shares of the business’s stock in a transaction on Friday, November 28th. The shares were sold at an average price of $228.48, for a total transaction of $1,142,400.00. Following the sale, the chief financial officer directly owned 223,024 shares of the company’s stock, valued at $50,956,523.52. This represents a 2.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 17,673 shares of company stock worth $4,163,005. 0.34% of the stock is currently owned by company insiders.

About Progressive

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.