6,425 Shares in The Progressive Co. (NYSE:PGR) Acquired by Arjuna Capital

Arjuna Capital purchased a new position in shares of The Progressive Co. (NYSE:PGR) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 6,425 shares of the insurance provider’s stock, valued at approximately $1,630,000.

Other hedge funds also recently made changes to their positions in the company. Davis Capital Management bought a new position in shares of Progressive during the 3rd quarter worth approximately $25,000. WR Wealth Planners LLC grew its stake in shares of Progressive by 119.6% during the 2nd quarter. WR Wealth Planners LLC now owns 123 shares of the insurance provider’s stock worth $26,000 after acquiring an additional 67 shares in the last quarter. Hilltop National Bank grew its stake in shares of Progressive by 126.0% during the 2nd quarter. Hilltop National Bank now owns 165 shares of the insurance provider’s stock worth $34,000 after acquiring an additional 92 shares in the last quarter. DiNuzzo Private Wealth Inc. grew its stake in shares of Progressive by 114.1% during the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 137 shares of the insurance provider’s stock worth $35,000 after acquiring an additional 73 shares in the last quarter. Finally, LRI Investments LLC bought a new position in shares of Progressive during the 1st quarter worth approximately $36,000. 85.34% of the stock is owned by institutional investors.

Progressive Stock Performance

Progressive stock traded down $0.14 during mid-day trading on Wednesday, hitting $262.20. 109,406 shares of the company’s stock traded hands, compared to its average volume of 2,457,003. The firm has a 50 day simple moving average of $251.77 and a two-hundred day simple moving average of $229.06. The Progressive Co. has a fifty-two week low of $149.14 and a fifty-two week high of $263.85. The stock has a market cap of $153.60 billion, a price-to-earnings ratio of 19.06, a P/E/G ratio of 0.72 and a beta of 0.36. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.30 and a quick ratio of 0.30.

Progressive (NYSE:PGR) last posted its earnings results on Tuesday, October 15th. The insurance provider reported $3.58 earnings per share for the quarter, topping analysts’ consensus estimates of $3.40 by $0.18. Progressive had a return on equity of 33.10% and a net margin of 11.27%. The company had revenue of $19.43 billion during the quarter, compared to the consensus estimate of $18.95 billion. On average, research analysts expect that The Progressive Co. will post 13.15 EPS for the current fiscal year.

Insider Transactions at Progressive

In other news, insider Steven Broz sold 2,981 shares of Progressive stock in a transaction on Monday, October 21st. The stock was sold at an average price of $251.15, for a total transaction of $748,678.15. Following the completion of the sale, the insider now owns 26,353 shares of the company’s stock, valued at approximately $6,618,555.95. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Steven Broz sold 2,981 shares of the firm’s stock in a transaction on Monday, October 21st. The stock was sold at an average price of $251.15, for a total value of $748,678.15. Following the transaction, the insider now owns 26,353 shares in the company, valued at approximately $6,618,555.95. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Susan Patricia Griffith sold 43,370 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief executive officer now owns 473,735 shares in the company, valued at $119,475,967. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 74,843 shares of company stock valued at $18,674,912. 0.34% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have recently weighed in on PGR. HSBC raised shares of Progressive from a “hold” rating to a “buy” rating and set a $253.00 price target for the company in a research note on Monday, August 12th. BMO Capital Markets cut their price objective on Progressive from $239.00 to $237.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. Evercore ISI increased their price objective on Progressive from $277.00 to $285.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. TD Cowen increased their price objective on Progressive from $197.00 to $237.00 and gave the company a “hold” rating in a report on Friday, November 8th. Finally, Barclays increased their price objective on Progressive from $267.00 to $277.00 and gave the company 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 assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $269.56.

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.