Norinchukin Bank The increased its position in Progressive Corp (NYSE:PGR) by 12.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 25,897 shares of the insurance provider’s stock after acquiring an additional 2,957 shares during the period. Norinchukin Bank The’s holdings in Progressive were worth $1,254,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Creative Planning grew its holdings in shares of Progressive by 0.4% in the second quarter. Creative Planning now owns 5,723 shares of the insurance provider’s stock worth $252,000 after acquiring an additional 23 shares during the period. ING Groep NV grew its holdings in shares of Progressive by 0.3% in the second quarter. ING Groep NV now owns 39,707 shares of the insurance provider’s stock worth $1,751,000 after acquiring an additional 112 shares during the period. Weatherly Asset Management L. P. grew its holdings in shares of Progressive by 1.8% in the second quarter. Weatherly Asset Management L. P. now owns 7,320 shares of the insurance provider’s stock worth $323,000 after acquiring an additional 130 shares during the period. Peak Asset Management LLC grew its holdings in shares of Progressive by 2.3% in the second quarter. Peak Asset Management LLC now owns 6,486 shares of the insurance provider’s stock worth $286,000 after acquiring an additional 147 shares during the period. Finally, Elkhorn Investments LLC grew its holdings in shares of Progressive by 0.5% in the second quarter. Elkhorn Investments LLC now owns 33,515 shares of the insurance provider’s stock worth $1,599,000 after acquiring an additional 160 shares during the period. 79.06% of the stock is owned by institutional investors.

In other news, CMO M Jeffrey Charney sold 6,000 shares of the business’s stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $49.50, for a total value of $297,000.00. Following the transaction, the chief marketing officer now directly owns 102,038 shares in the company, valued at $5,050,881. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jeffrey W. Basch sold 9,000 shares of the business’s stock in a transaction dated Wednesday, October 18th. The shares were sold at an average price of $48.23, for a total value of $434,070.00. Following the completion of the transaction, the insider now owns 70,965 shares in the company, valued at $3,422,641.95. The disclosure for this sale can be found here. Insiders have sold 21,000 shares of company stock worth $1,024,470 over the last quarter. 0.56% of the stock is owned by company insiders.

Several analysts recently commented on the company. Wells Fargo & Company reaffirmed a “hold” rating on shares of Progressive in a report on Thursday, August 3rd. Citigroup Inc. lifted their price objective on Progressive from $49.00 to $50.00 and gave the stock a “neutral” rating in a report on Thursday, August 17th. Credit Suisse Group raised Progressive from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $42.00 to $48.00 in a report on Wednesday, September 20th. ValuEngine raised Progressive from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Finally, MKM Partners lifted their price objective on Progressive to $60.00 and gave the stock a “buy” rating in a report on Thursday, November 16th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $47.76.

Progressive Corp (PGR) traded up $0.17 during midday trading on Monday, reaching $51.85. The company had a trading volume of 1,726,300 shares, compared to its average volume of 3,075,330. The stock has a market capitalization of $30,155.96, a P/E ratio of 22.64, a PEG ratio of 2.96 and a beta of 0.92. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 0.36. Progressive Corp has a 12 month low of $33.27 and a 12 month high of $52.26.

Progressive (NYSE:PGR) last released its earnings results on Tuesday, October 17th. The insurance provider reported $0.41 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.07. The company had revenue of $7.14 billion for the quarter, compared to the consensus estimate of $7.04 billion. Progressive had a return on equity of 15.40% and a net margin of 5.41%. Progressive’s quarterly revenue was up 18.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.34 earnings per share. sell-side analysts anticipate that Progressive Corp will post 2.39 earnings per share for the current fiscal year.

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About Progressive

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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