The Progressive Corporation $PGR Shares Acquired by Banco Bilbao Vizcaya Argentaria S.A.

Banco Bilbao Vizcaya Argentaria S.A. increased its holdings in The Progressive Corporation (NYSE:PGR) by 24.3% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 93,039 shares of the insurance provider’s stock after acquiring an additional 18,181 shares during the quarter. Banco Bilbao Vizcaya Argentaria S.A.’s holdings in Progressive were worth $24,828,000 as of its most recent filing with the SEC.

A number of other large investors have also recently added to or reduced their stakes in the stock. Clearstead Trust LLC lifted its holdings in Progressive by 16.9% in the second quarter. Clearstead Trust LLC now owns 1,886 shares of the insurance provider’s stock worth $503,000 after acquiring an additional 272 shares during the last quarter. Brogan Financial Inc. grew its stake in shares of Progressive by 51.9% in the second quarter. Brogan Financial Inc. now owns 1,385 shares of the insurance provider’s stock worth $369,000 after purchasing an additional 473 shares in the last quarter. ABN Amro Investment Solutions acquired a new position in Progressive during the 2nd quarter valued at about $1,962,000. Impax Asset Management Group plc increased its stake in shares of Progressive by 77.7% during the second quarter. Impax Asset Management Group plc now owns 237,624 shares of the insurance provider’s stock valued at $63,412,000 after acquiring an additional 103,871 shares during the period. Finally, Kaizen Financial Strategies raised its stake in shares of Progressive by 53.8% in the 2nd quarter. Kaizen Financial Strategies now owns 2,544 shares of the insurance provider’s stock worth $679,000 after buying an additional 890 shares in the last quarter. 85.34% of the stock is currently owned by institutional investors.

Progressive Stock Up 0.5%

Shares of PGR opened at $222.95 on Friday. The stock has a market capitalization of $130.74 billion, a PE ratio of 12.23, a P/E/G ratio of 1.19 and a beta of 0.29. The company has a current ratio of 0.32, a quick ratio of 0.31 and a debt-to-equity ratio of 0.19. The firm’s 50 day moving average is $231.39 and its 200-day moving average is $250.90. The Progressive Corporation has a 12 month low of $199.90 and a 12 month high of $292.99.

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

Analyst Ratings Changes

A number of research firms recently weighed in on PGR. Zacks Research lowered Progressive from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 10th. Citigroup decreased their price objective on Progressive from $312.00 to $301.38 and set a “buy” rating on the stock in a report on Thursday, October 16th. JPMorgan Chase & Co. boosted their price target on shares of Progressive from $301.00 to $303.00 and gave the company an “overweight” rating in a research report on Thursday, October 9th. Jefferies Financial Group decreased their price target on shares of Progressive from $309.00 to $287.00 and set a “buy” rating on the stock in a research note on Monday, August 11th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Progressive in a research report on Friday, October 31st. Eight research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Progressive has an average rating of “Hold” and an average price target of $269.90.

Insider Activity at Progressive

In other news, insider Steven Broz sold 1,345 shares of Progressive stock in a transaction on Tuesday, November 11th. The stock was sold at an average price of $220.00, for a total transaction of $295,900.00. Following the sale, the insider directly owned 29,043 shares in the company, valued at $6,389,460. The trade was a 4.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Susan Patricia Griffith sold 30,659 shares of the stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $246.06, for a total value of $7,543,953.54. Following the transaction, the chief executive officer owned 476,286 shares of the company’s stock, valued at $117,194,933.16. The trade was a 6.05% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 51,782 shares of company stock worth $12,708,788. Corporate insiders own 0.33% of the company’s stock.

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.