OMERS ADMINISTRATION Corp Has $10.24 Million Stock Position in The Progressive Corporation $PGR

OMERS ADMINISTRATION Corp raised its holdings in shares of The Progressive Corporation (NYSE:PGR) by 0.8% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 38,358 shares of the insurance provider’s stock after acquiring an additional 300 shares during the quarter. OMERS ADMINISTRATION Corp’s holdings in Progressive were worth $10,236,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in PGR. Brighton Jones LLC lifted its position in Progressive by 15.6% during the 4th quarter. Brighton Jones LLC now owns 3,392 shares of the insurance provider’s stock worth $813,000 after buying an additional 457 shares in the last quarter. Revolve Wealth Partners LLC acquired a new stake in shares of Progressive in the fourth quarter valued at about $269,000. Bison Wealth LLC raised its holdings in Progressive by 3.2% during the fourth quarter. Bison Wealth LLC now owns 2,568 shares of the insurance provider’s stock worth $615,000 after acquiring an additional 80 shares in the last quarter. Harbour Investments Inc. boosted its position in Progressive by 123.2% during the first quarter. Harbour Investments Inc. now owns 741 shares of the insurance provider’s stock valued at $210,000 after purchasing an additional 409 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its position in Progressive by 5.4% during the first quarter. PNC Financial Services Group Inc. now owns 319,062 shares of the insurance provider’s stock valued at $90,298,000 after purchasing an additional 16,425 shares during the last quarter. Institutional investors own 85.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on PGR shares. Keefe, Bruyette & Woods dropped their price objective on Progressive from $262.00 to $246.00 and set a “market perform” rating on the stock in a research note on Wednesday, November 5th. Raymond James Financial dropped their price target on shares of Progressive from $305.00 to $265.00 and set an “outperform” rating on the stock in a research report on Friday, October 17th. Morgan Stanley set a $214.00 price objective on shares of Progressive and gave the company an “underweight” rating in a research report on Monday, October 20th. Wall Street Zen lowered shares of Progressive from a “buy” rating to a “hold” rating in a research note on Sunday, September 21st. Finally, Zacks Research downgraded shares of Progressive from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 10th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $266.52.

Progressive Trading Down 0.2%

Shares of NYSE:PGR opened at $228.63 on Monday. The Progressive Corporation has a 12-month low of $199.90 and a 12-month high of $292.99. The business has a 50 day moving average of $227.31 and a 200-day moving average of $246.26. The company has a quick ratio of 0.31, a current ratio of 0.32 and a debt-to-equity ratio of 0.19. The stock has a market cap of $134.07 billion, a PE ratio of 12.54, a P/E/G ratio of 1.19 and a beta of 0.29.

Progressive (NYSE:PGR) last announced its earnings results on Wednesday, October 15th. The insurance provider reported $4.45 earnings per share for the quarter, missing analysts’ consensus estimates of $5.04 by ($0.59). The firm had revenue of $21.38 billion for the quarter, compared to the consensus estimate of $21.64 billion. Progressive had a return on equity of 33.88% and a net margin of 12.57%.During the same quarter last year, the business posted $3.58 EPS. As a group, equities research analysts forecast that The Progressive Corporation will post 14.68 earnings per share for the current year.

Insider Transactions at Progressive

In other news, insider Patrick K. Callahan sold 6,420 shares of Progressive stock in a transaction on Friday, September 19th. The stock was sold at an average price of $242.22, for a total transaction of $1,555,052.40. Following the completion of the sale, the insider owned 15,192 shares of the company’s stock, valued at approximately $3,679,806.24. This trade represents a 29.71% 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. Also, insider John Jo Murphy sold 2,218 shares of the company’s stock in a transaction dated Friday, September 19th. The shares were sold at an average price of $242.10, for a total transaction of $536,977.80. Following the completion of the transaction, the insider owned 43,506 shares in the company, valued at $10,532,802.60. This trade represents a 4.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 43,332 shares of company stock worth $10,564,558 over the last quarter. 0.34% of the stock is currently owned by corporate insiders.

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.