845 Shares in The Progressive Co. (NYSE:PGR) Purchased by Equitable Trust Co.

Equitable Trust Co. acquired a new stake in shares of The Progressive Co. (NYSE:PGR) in the third quarter, HoldingsChannel.com reports. The firm acquired 845 shares of the insurance provider’s stock, valued at approximately $214,000.

Other large investors have also bought and sold shares of the company. Canada Pension Plan Investment Board increased its position in shares of Progressive by 548.2% during the first quarter. Canada Pension Plan Investment Board now owns 811,653 shares of the insurance provider’s stock valued at $167,866,000 after acquiring an additional 686,433 shares in the last quarter. Capital International Investors boosted its stake in Progressive by 15.7% during the 1st quarter. Capital International Investors now owns 4,925,019 shares of the insurance provider’s stock valued at $1,018,592,000 after purchasing an additional 670,006 shares during the last quarter. International Assets Investment Management LLC increased its holdings in shares of Progressive by 29,701.6% in the 3rd quarter. International Assets Investment Management LLC now owns 596,331 shares of the insurance provider’s stock worth $151,325,000 after purchasing an additional 594,330 shares in the last quarter. SG Americas Securities LLC raised its stake in shares of Progressive by 206.8% in the third quarter. SG Americas Securities LLC now owns 875,660 shares of the insurance provider’s stock worth $222,207,000 after purchasing an additional 590,235 shares during the last quarter. Finally, Swedbank AB bought a new position in shares of Progressive during the first quarter valued at $116,852,000. 85.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PGR has been the subject of several research analyst reports. Morgan Stanley lifted their price objective on Progressive from $300.00 to $310.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. Bank of America boosted their price objective on shares of Progressive from $319.00 to $331.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. StockNews.com downgraded shares of Progressive from a “buy” rating to a “hold” rating in a research report on Friday, November 1st. Jefferies Financial Group raised their price target on Progressive from $257.00 to $295.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Finally, TD Cowen increased their target price on Progressive from $197.00 to $237.00 and gave the company a “hold” rating in a report on Friday. Seven analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $269.56.

Progressive Trading Up 2.4 %

Shares of PGR stock opened at $261.52 on Monday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.31 and a current ratio of 0.30. The stock has a fifty day simple moving average of $251.41 and a two-hundred day simple moving average of $228.22. The firm has a market capitalization of $153.20 billion, a PE ratio of 19.01, a PEG ratio of 0.72 and a beta of 0.36. The Progressive Co. has a 52-week low of $149.14 and a 52-week high of $263.39.

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

Insider Buying and Selling at Progressive

In other news, Director Dyke Kahina Van sold 2,180 shares of the business’s 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 transaction, the director now 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Dyke Kahina Van sold 2,180 shares of Progressive stock in a transaction dated Friday, September 27th. The stock was 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 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Steven Broz sold 2,981 shares of the stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $251.15, for a total value of $748,678.15. Following the transaction, the insider now directly owns 26,353 shares of the company’s stock, valued at approximately $6,618,555.95. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 74,843 shares of company stock valued at $18,674,912 in the last three months. 0.34% of the stock is currently owned by corporate insiders.

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.