Wilkinson Global Asset Management LLC Sells 3,175 Shares of The Progressive Co. (NYSE:PGR)

Wilkinson Global Asset Management LLC reduced its stake in The Progressive Co. (NYSE:PGR) by 2.0% during the third quarter, HoldingsChannel.com reports. The fund owned 159,082 shares of the insurance provider’s stock after selling 3,175 shares during the quarter. Progressive comprises approximately 2.4% of Wilkinson Global Asset Management LLC’s holdings, making the stock its 19th biggest position. Wilkinson Global Asset Management LLC’s holdings in Progressive were worth $40,369,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of PGR. Vanguard Group Inc. raised its position in shares of Progressive by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 51,751,851 shares of the insurance provider’s stock valued at $10,703,318,000 after buying an additional 285,070 shares in the last quarter. Capital International Investors lifted its holdings in shares of Progressive by 15.7% in the 1st quarter. Capital International Investors now owns 4,925,019 shares of the insurance provider’s stock worth $1,018,592,000 after acquiring an additional 670,006 shares during the last quarter. Legal & General Group Plc boosted its stake in shares of Progressive by 1.9% during the 2nd quarter. Legal & General Group Plc now owns 4,922,743 shares of the insurance provider’s stock worth $1,022,507,000 after purchasing an additional 92,212 shares during the period. American Century Companies Inc. grew its holdings in Progressive by 3.0% during the 2nd quarter. American Century Companies Inc. now owns 2,392,773 shares of the insurance provider’s stock valued at $497,003,000 after purchasing an additional 69,709 shares during the last quarter. Finally, TD Asset Management Inc lifted its stake in Progressive by 16.8% in the first quarter. TD Asset Management Inc now owns 1,698,526 shares of the insurance provider’s stock worth $351,289,000 after purchasing an additional 244,541 shares during the last quarter. Hedge funds and other institutional investors own 85.34% of the company’s stock.

Progressive Price Performance

NYSE PGR opened at $258.75 on Thursday. The firm’s fifty day simple moving average is $251.12 and its two-hundred day simple moving average is $227.59. The firm has a market capitalization of $151.54 billion, a P/E ratio of 18.80, a P/E/G ratio of 0.67 and a beta of 0.36. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.30. The Progressive Co. has a 12-month low of $149.14 and a 12-month high of $260.46.

Insider Buying and Selling

In other news, insider Steven Broz sold 6,122 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $235.19, for a total transaction of $1,439,833.18. Following the transaction, the insider now owns 32,316 shares in the company, valued at $7,600,400.04. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, insider Steven Broz sold 6,122 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $235.19, for a total value of $1,439,833.18. Following the completion of the transaction, the insider now owns 32,316 shares in the company, valued at $7,600,400.04. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Susan Patricia Griffith sold 43,370 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $252.20, for a total value of $10,937,914.00. Following the sale, the chief executive officer now owns 473,735 shares in the company, valued at approximately $119,475,967. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 74,843 shares of company stock worth $18,674,912 in the last ninety days. 0.34% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Barclays upped their target price on Progressive from $267.00 to $277.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 23rd. The Goldman Sachs Group increased their target price on Progressive from $262.00 to $280.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Piper Sandler boosted their target price on shares of Progressive from $250.00 to $252.00 and gave the company an “overweight” rating in a research note on Thursday, August 15th. StockNews.com lowered shares of Progressive from a “buy” rating to a “hold” rating in a report on Friday, November 1st. Finally, Hsbc Global Res upgraded Progressive from a “hold” rating to a “strong-buy” rating in a report on Monday, August 12th. Seven research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $265.63.

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.