The Progressive Co. (NYSE:PGR) Shares Sold by Mn Services Vermogensbeheer B.V.

Mn Services Vermogensbeheer B.V. lowered its holdings in shares of The Progressive Co. (NYSE:PGR) by 2.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 226,273 shares of the insurance provider’s stock after selling 5,000 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in Progressive were worth $57,419,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Norden Group LLC bought a new position in shares of Progressive in the first quarter valued at approximately $987,000. Private Advisor Group LLC increased its position in shares of Progressive by 7.4% during the 1st quarter. Private Advisor Group LLC now owns 10,610 shares of the insurance provider’s stock valued at $2,194,000 after purchasing an additional 727 shares during the period. Jennison Associates LLC bought a new stake in shares of Progressive in the 1st quarter worth $25,743,000. Whittier Trust Co. lifted its holdings in shares of Progressive by 42.1% in the first quarter. Whittier Trust Co. now owns 3,889 shares of the insurance provider’s stock valued at $804,000 after buying an additional 1,153 shares during the period. Finally, Smith Salley Wealth Management bought a new position in Progressive during the first quarter valued at about $683,000. 85.34% of the stock is owned by institutional investors and hedge funds.

Progressive Stock Performance

Shares of PGR traded down $1.61 during midday trading on Monday, reaching $241.11. The stock had a trading volume of 568,417 shares, compared to its average volume of 2,460,977. The firm has a 50 day simple moving average of $250.88 and a 200-day simple moving average of $226.91. The firm has a market cap of $141.21 billion, a PE ratio of 17.64, a P/E/G ratio of 0.67 and a beta of 0.36. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.30. The Progressive Co. has a one year low of $149.14 and a one year high of $260.46.

Insiders Place Their Bets

In other news, Director Dyke Kahina Van sold 2,180 shares of the firm’s stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $252.28, for a total value of $549,970.40. Following the sale, the director now directly owns 13,723 shares in the company, valued at approximately $3,462,038.44. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Progressive news, Director Dyke Kahina Van sold 2,180 shares of Progressive stock in a transaction on Friday, September 27th. The shares were sold at an average price of $252.28, for a total value of $549,970.40. Following the completion of the sale, the director now directly owns 13,723 shares of the company’s stock, valued at approximately $3,462,038.44. The trade was a 0.00 % 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, CEO Susan Patricia Griffith sold 43,370 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $252.20, for a total value of $10,937,914.00. Following the sale, the chief executive officer now directly owns 473,735 shares of the company’s stock, valued at $119,475,967. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 74,843 shares of company stock worth $18,674,912 in the last quarter. 0.34% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on PGR. Evercore ISI upped their price target on shares of Progressive from $243.00 to $246.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Morgan Stanley increased their price target on shares of Progressive from $300.00 to $310.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. HSBC raised Progressive from a “hold” rating to a “buy” rating and set a $253.00 target price on the stock in a research report on Monday, August 12th. Wells Fargo & Company raised their price objective on shares of Progressive from $281.00 to $282.00 and gave the company an “overweight” rating in a research report on Tuesday, September 10th. Finally, Barclays upped their price objective on shares of Progressive from $267.00 to $277.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 23rd. Seven equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $263.19.

Progressive Company 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.