iA Global Asset Management Inc. Buys 398 Shares of The Progressive Co. (NYSE:PGR)

iA Global Asset Management Inc. lifted its position in The Progressive Co. (NYSE:PGR) by 2.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,186 shares of the insurance provider’s stock after acquiring an additional 398 shares during the quarter. iA Global Asset Management Inc.’s holdings in Progressive were worth $3,854,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Davis Capital Management purchased a new stake in Progressive in the 3rd quarter valued at about $25,000. WR Wealth Planners LLC increased its position in shares of Progressive by 119.6% during the second quarter. WR Wealth Planners LLC now owns 123 shares of the insurance provider’s stock valued at $26,000 after acquiring an additional 67 shares during the last quarter. DiNuzzo Private Wealth Inc. boosted its position in Progressive by 114.1% in the third quarter. DiNuzzo Private Wealth Inc. now owns 137 shares of the insurance provider’s stock worth $35,000 after purchasing an additional 73 shares during the last quarter. Kimelman & Baird LLC bought a new position in Progressive in the 2nd quarter valued at $36,000. Finally, Sachetta LLC increased its position in shares of Progressive by 34.0% during the 2nd quarter. Sachetta LLC now owns 209 shares of the insurance provider’s stock valued at $45,000 after purchasing an additional 53 shares during the last quarter. 85.34% of the stock is owned by institutional investors.

Analyst Ratings Changes

PGR has been the subject of several research reports. TD Cowen increased their price target on shares of Progressive from $197.00 to $237.00 and gave the company a “hold” rating in a research report on Friday, November 8th. Piper Sandler raised their price target on shares of Progressive from $250.00 to $252.00 and gave the stock an “overweight” rating in a research note on Thursday, August 15th. Keefe, Bruyette & Woods upped their price objective on Progressive from $280.00 to $290.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Roth Mkm raised their target price on Progressive from $270.00 to $290.00 and gave the stock a “buy” rating in a research report on Monday, September 16th. Finally, JPMorgan Chase & Co. boosted their target price on Progressive from $242.00 to $251.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Five investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $269.81.

Insider Buying and Selling at Progressive

In other Progressive news, insider Patrick K. Callahan sold 7,696 shares of Progressive stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $255.21, for a total transaction of $1,964,096.16. Following the completion of the sale, the insider now owns 15,189 shares of the company’s stock, valued at $3,876,384.69. The trade was a 33.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Steven Broz sold 2,982 shares of the company’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $260.00, for a total value of $775,320.00. Following the completion of the transaction, the insider now owns 29,334 shares of the company’s stock, valued at $7,626,840. The trade was a 9.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 25,839 shares of company stock worth $6,718,965 over the last three months. 0.34% of the stock is owned by insiders.

Progressive Stock Performance

NYSE PGR opened at $254.56 on Friday. The company’s 50 day simple moving average is $254.64 and its two-hundred day simple moving average is $235.31. The stock has a market capitalization of $149.12 billion, a PE ratio of 18.50, a P/E/G ratio of 0.72 and a beta of 0.38. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.30 and a quick ratio of 0.30. The Progressive Co. has a 1 year low of $149.14 and a 1 year high of $270.62.

Progressive (NYSE:PGR) last posted its quarterly earnings data on Tuesday, October 15th. The insurance provider reported $3.58 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $18.95 billion. Analysts predict that The Progressive Co. will post 13.2 earnings per share for the current fiscal year.

About Progressive

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.