The Progressive Corporation $PGR Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC trimmed its holdings in The Progressive Corporation (NYSE:PGR) by 17.2% during the 2nd quarter, Holdings Channel.com reports. The firm owned 522,836 shares of the insurance provider’s stock after selling 108,871 shares during the period. Progressive accounts for 0.6% of SG Americas Securities LLC’s holdings, making the stock its 24th biggest holding. SG Americas Securities LLC’s holdings in Progressive were worth $139,524,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Nuveen LLC purchased a new stake in shares of Progressive in the first quarter worth about $1,473,180,000. GQG Partners LLC lifted its holdings in Progressive by 61.4% in the first quarter. GQG Partners LLC now owns 8,346,133 shares of the insurance provider’s stock valued at $2,362,039,000 after acquiring an additional 3,174,632 shares during the period. C WorldWide Group Holding A S lifted its holdings in Progressive by 12,110.3% in the first quarter. C WorldWide Group Holding A S now owns 1,248,628 shares of the insurance provider’s stock valued at $353,374,000 after acquiring an additional 1,238,402 shares during the period. Alliancebernstein L.P. boosted its position in Progressive by 15.2% in the 1st quarter. Alliancebernstein L.P. now owns 8,263,157 shares of the insurance provider’s stock worth $2,338,556,000 after purchasing an additional 1,091,828 shares in the last quarter. Finally, Axiom Investors LLC DE acquired a new stake in shares of Progressive during the 1st quarter worth approximately $194,557,000. 85.34% of the stock is owned by institutional investors and hedge funds.

Progressive Stock Up 0.9%

Shares of PGR opened at $225.23 on Friday. The stock has a 50 day moving average price of $231.02 and a 200 day moving average price of $250.59. The Progressive Corporation has a one year low of $199.90 and a one year high of $292.99. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.31 and a current ratio of 0.32. The stock has a market capitalization of $132.08 billion, a price-to-earnings ratio of 12.36, a PEG ratio of 1.19 and a beta of 0.29.

Progressive (NYSE:PGR) last announced its quarterly earnings data on Wednesday, October 15th. The insurance provider reported $4.45 earnings per share 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 firm had revenue of $21.38 billion during the quarter, compared to analysts’ expectations of $21.64 billion. During the same quarter in the previous year, the business posted $3.58 EPS. Equities research analysts forecast that The Progressive Corporation will post 14.68 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. The Goldman Sachs Group decreased their target price on shares of Progressive from $276.00 to $245.00 and set a “buy” rating for the company in a research note on Monday, October 27th. Raymond James Financial decreased their price objective on shares of Progressive from $305.00 to $265.00 and set an “outperform” rating for the company in a research report on Friday, October 17th. Weiss Ratings reissued a “buy (b-)” rating on shares of Progressive in a research note on Friday, October 31st. Wall Street Zen lowered Progressive from a “buy” rating to a “hold” rating in a report on Sunday, September 21st. Finally, JPMorgan Chase & Co. boosted their price objective on Progressive from $301.00 to $303.00 and gave the company an “overweight” rating in a research report on Thursday, October 9th. Seven research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Progressive currently has a consensus rating of “Hold” and a consensus target price of $266.46.

Insider Buying and Selling at Progressive

In other Progressive news, insider Steven Broz sold 1,345 shares of the stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $220.00, for a total value of $295,900.00. Following the completion of the sale, the insider owned 29,043 shares in the company, valued at approximately $6,389,460. This represents a 4.43% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Patrick K. Callahan sold 6,420 shares of the firm’s stock in a transaction that occurred on Friday, September 19th. The stock was sold at an average price of $242.22, for a total transaction of $1,555,052.40. Following the completion of the transaction, the insider directly owned 15,192 shares in the company, valued at $3,679,806.24. This trade represents a 29.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 51,782 shares of company stock worth $12,708,788 in the last 90 days. 0.34% of the stock is currently owned by insiders.

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.