Handelsbanken Fonder AB lifted its holdings in shares of Progressive Corp (NYSE:PGR) by 4.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 968,617 shares of the insurance provider’s stock after buying an additional 40,000 shares during the period. Progressive accounts for approximately 1.2% of Handelsbanken Fonder AB’s holdings, making the stock its 25th biggest position. Handelsbanken Fonder AB owned 0.17% of Progressive worth $54,553,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Exane Derivatives acquired a new position in Progressive during the 4th quarter valued at about $104,000. Valeo Financial Advisors LLC boosted its stake in Progressive by 13,675.2% during the 4th quarter. Valeo Financial Advisors LLC now owns 84,029 shares of the insurance provider’s stock valued at $118,000 after purchasing an additional 83,419 shares during the period. We Are One Seven LLC acquired a new position in Progressive during the 4th quarter valued at about $119,000. Balentine LLC boosted its stake in Progressive by 3,273.0% during the 3rd quarter. Balentine LLC now owns 2,496 shares of the insurance provider’s stock valued at $121,000 after purchasing an additional 2,422 shares during the period. Finally, First Personal Financial Services boosted its stake in Progressive by 101.8% during the 4th quarter. First Personal Financial Services now owns 2,202 shares of the insurance provider’s stock valued at $124,000 after purchasing an additional 1,111 shares during the period. 81.08% of the stock is owned by institutional investors and hedge funds.

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In related news, insider William M. Cody sold 25,000 shares of the stock in a transaction that occurred on Friday, December 22nd. The shares were sold at an average price of $56.10, for a total transaction of $1,402,500.00. Following the completion of the sale, the insider now directly owns 137,722 shares of the company’s stock, valued at $7,726,204.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.56% of the stock is owned by corporate insiders.

PGR has been the subject of a number of analyst reports. MKM Partners boosted their target price on shares of Progressive to $65.00 and gave the company a “buy” rating in a research note on Friday, December 15th. Wells Fargo set a $55.00 target price on shares of Progressive and gave the company a “hold” rating in a research note on Wednesday, December 13th. Credit Suisse Group reissued a “hold” rating and set a $48.00 target price on shares of Progressive in a research note on Friday, December 15th. Goldman Sachs initiated coverage on shares of Progressive in a research note on Monday, December 4th. They set a “buy” rating and a $57.00 target price for the company. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and set a $60.00 target price on shares of Progressive in a research note on Wednesday, December 6th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company. Progressive presently has a consensus rating of “Hold” and a consensus target price of $51.25.

Shares of Progressive stock opened at $62.01 on Thursday. Progressive Corp has a one year low of $38.61 and a one year high of $62.74. The company has a market cap of $36,293.26, a P/E ratio of 22.80, a P/E/G ratio of 2.32 and a beta of 0.71. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.36.

Progressive (NYSE:PGR) last released its earnings results on Wednesday, January 24th. The insurance provider reported $0.79 EPS for the quarter, beating the consensus estimate of $0.77 by $0.02. Progressive had a net margin of 5.93% and a return on equity of 15.96%. The business had revenue of $6.75 billion during the quarter, compared to analyst estimates of $6.62 billion. During the same period in the prior year, the business earned $0.66 earnings per share. The business’s quarterly revenue was up 21.6% on a year-over-year basis. equities analysts predict that Progressive Corp will post 3.66 EPS for the current year.

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Progressive Profile

The Progressive Corporation is an insurance holding company. The Company’s insurance subsidiaries and affiliates provide personal and commercial automobile and property insurance, other specialty property-casualty insurance and related services. The Company operates through the Personal Lines, Commercial Lines and Property segments.

Institutional Ownership by Quarter for Progressive (NYSE:PGR)

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