Metropolitan Life Insurance Co NY Has $3.38 Million Stock Holdings in The Progressive Co. (NYSE:PGR)

Metropolitan Life Insurance Co NY trimmed its holdings in shares of The Progressive Co. (NYSE:PGR) by 2.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 25,509 shares of the insurance provider’s stock after selling 652 shares during the period. Metropolitan Life Insurance Co NY’s holdings in Progressive were worth $3,377,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the business. ProShare Advisors LLC grew its stake in Progressive by 1.9% during the 2nd quarter. ProShare Advisors LLC now owns 131,956 shares of the insurance provider’s stock valued at $17,467,000 after acquiring an additional 2,457 shares in the last quarter. Joseph Group Capital Management increased its stake in Progressive by 13.9% in the 2nd quarter. Joseph Group Capital Management now owns 8,587 shares of the insurance provider’s stock valued at $1,137,000 after buying an additional 1,047 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in Progressive by 28.2% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 179,352 shares of the insurance provider’s stock worth $23,741,000 after buying an additional 39,430 shares in the last quarter. Boston Partners acquired a new stake in shares of Progressive during the 2nd quarter valued at $137,148,000. Finally, Heron Financial Group LLC boosted its stake in shares of Progressive by 2.8% during the 2nd quarter. Heron Financial Group LLC now owns 5,092 shares of the insurance provider’s stock valued at $674,000 after buying an additional 139 shares during the period. 83.66% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Progressive

In other news, insider Daniel P. Mascaro sold 1,570 shares of the business’s stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $140.39, for a total transaction of $220,412.30. Following the transaction, the insider now owns 31,706 shares in the company, valued at approximately $4,451,205.34. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, insider Daniel P. Mascaro sold 1,570 shares of the business’s stock in a transaction on Monday, September 18th. The shares were sold at an average price of $140.39, for a total value of $220,412.30. Following the sale, the insider now owns 31,706 shares in the company, valued at approximately $4,451,205.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Barbara R. Snyder sold 21,731 shares of the stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $133.09, for a total transaction of $2,892,178.79. Following the sale, the director now owns 6,610 shares of the company’s stock, valued at approximately $879,724.90. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 69,021 shares of company stock worth $9,594,007. Insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

PGR has been the subject of several recent research reports. JPMorgan Chase & Co. increased their price objective on Progressive from $146.00 to $149.00 and gave the stock an “overweight” rating in a report on Monday, October 2nd. Wells Fargo & Company raised their price target on Progressive from $128.00 to $144.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 17th. Bank of America reduced their price target on Progressive from $203.00 to $199.00 in a report on Tuesday, October 3rd. BMO Capital Markets upgraded Progressive from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $155.00 to $180.00 in a report on Wednesday, October 25th. Finally, StockNews.com upgraded shares of Progressive from a “hold” rating to a “buy” rating in a research note on Monday, October 16th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $161.47.

Progressive Trading Up 1.1 %

Shares of NYSE:PGR opened at $159.35 on Tuesday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.33 and a current ratio of 0.33. The stock’s 50-day moving average is $150.11 and its 200-day moving average is $137.14. The company has a market cap of $93.23 billion, a P/E ratio of 34.57, a P/E/G ratio of 1.16 and a beta of 0.43. The Progressive Co. has a 52-week low of $111.41 and a 52-week high of $161.98.

Progressive (NYSE:PGR) last released its earnings results on Friday, October 13th. The insurance provider reported $2.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.71 by $0.38. The firm had revenue of $15.71 billion for the quarter, compared to analyst estimates of $15.66 billion. Progressive had a return on equity of 17.36% and a net margin of 4.67%. Equities research analysts predict that The Progressive Co. will post 5.33 earnings per share for the current year.

Progressive Profile

The Progressive Corporation, an insurance holding company, provides personal and commercial auto, personal residential and commercial property, 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.