YANKCOM Partnership Has $284,000 Stake in The Progressive Corporation $PGR

YANKCOM Partnership raised its position in The Progressive Corporation (NYSE:PGR) by 46.8% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,066 shares of the insurance provider’s stock after buying an additional 340 shares during the period. YANKCOM Partnership’s holdings in Progressive were worth $284,000 as of its most recent filing with the SEC.

Several other institutional investors have also bought and sold shares of the company. Entropy Technologies LP purchased a new stake in Progressive during the 2nd quarter worth about $5,701,000. Magnetar Financial LLC purchased a new position in shares of Progressive during the 2nd quarter valued at about $7,564,000. Swiss National Bank lifted its holdings in shares of Progressive by 7.4% in the 2nd quarter. Swiss National Bank now owns 1,774,600 shares of the insurance provider’s stock worth $473,570,000 after acquiring an additional 122,400 shares during the last quarter. Marsico Capital Management LLC purchased a new stake in Progressive during the second quarter valued at about $84,815,000. Finally, Cumberland Partners Ltd boosted its holdings in Progressive by 88.6% during the 2nd quarter. Cumberland Partners Ltd now owns 37,849 shares of the insurance provider’s stock valued at $10,100,000 after acquiring an additional 17,784 shares during the period. Hedge funds and other institutional investors own 85.34% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on the company. Raymond James Financial lowered their price target on Progressive from $305.00 to $265.00 and set an “outperform” rating for the company in a research report on Friday, October 17th. Keefe, Bruyette & Woods dropped their price target on Progressive from $262.00 to $246.00 and set a “market perform” rating on the stock in a research report on Wednesday, November 5th. Citigroup decreased their target price on shares of Progressive from $312.00 to $301.38 and set a “buy” rating for the company in a report on Thursday, October 16th. Wells Fargo & Company lifted their price objective on Progressive from $246.00 to $247.00 and gave the stock an “equal weight” rating in a report on Thursday. Finally, Bank of America decreased their target price on shares of Progressive from $351.00 to $346.00 and set a “buy” rating for the company in a research note on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Progressive presently has a consensus rating of “Hold” and an average price target of $266.52.

Progressive Stock Performance

Shares of PGR stock opened at $225.92 on Friday. The Progressive Corporation has a 12 month low of $199.90 and a 12 month high of $292.99. The company has a market cap of $132.48 billion, a P/E ratio of 12.39, a PEG 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 has a fifty day moving average price of $229.32 and a 200 day moving average price of $249.07.

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

Insider Transactions at Progressive

In other news, CEO Susan Patricia Griffith sold 30,659 shares of the business’s stock in a transaction dated 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 completion of the sale, the chief executive officer directly owned 476,286 shares of the company’s stock, valued at approximately $117,194,933.16. The trade was a 6.05% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider John Jo Murphy sold 2,218 shares of the business’s stock in a transaction that occurred on Friday, September 19th. The shares were sold at an average price of $242.10, for a total value of $536,977.80. Following the completion of the sale, the insider owned 43,506 shares of the company’s stock, valued at approximately $10,532,802.60. This represents a 4.85% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 41,987 shares of company stock worth $10,257,508 over the last three months. 0.34% of the stock is currently owned by company 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.