The Progressive Co. (NYSE:PGR) Shares Acquired by Haverford Trust Co

Haverford Trust Co lifted its stake in shares of The Progressive Co. (NYSE:PGR) by 6.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,990 shares of the insurance provider’s stock after buying an additional 351 shares during the quarter. Haverford Trust Co’s holdings in Progressive were worth $1,520,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in PGR. Vanguard Group Inc. lifted its stake in Progressive by 0.6% during the first quarter. Vanguard Group Inc. now owns 51,751,851 shares of the insurance provider’s stock worth $10,703,318,000 after purchasing an additional 285,070 shares during the last quarter. Capital International Investors lifted its stake in Progressive by 15.7% in the first quarter. Capital International Investors now owns 4,925,019 shares of the insurance provider’s stock valued at $1,018,592,000 after buying an additional 670,006 shares during the last quarter. Legal & General Group Plc lifted its stake in Progressive by 1.9% in the second quarter. Legal & General Group Plc now owns 4,922,743 shares of the insurance provider’s stock valued at $1,022,507,000 after buying an additional 92,212 shares during the last quarter. American Century Companies Inc. raised its stake in shares of Progressive by 3.0% during the second quarter. American Century Companies Inc. now owns 2,392,773 shares of the insurance provider’s stock worth $497,003,000 after purchasing an additional 69,709 shares during the last quarter. Finally, 1832 Asset Management L.P. raised its stake in shares of Progressive by 13.5% during the first quarter. 1832 Asset Management L.P. now owns 1,685,868 shares of the insurance provider’s stock worth $348,671,000 after purchasing an additional 200,118 shares during the last quarter. 85.34% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PGR has been the subject of several analyst reports. Keefe, Bruyette & Woods upped their price target on Progressive from $280.00 to $290.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. StockNews.com lowered Progressive from a “buy” rating to a “hold” rating in a report on Monday. HSBC raised Progressive from a “hold” rating to a “buy” rating and set a $253.00 price objective on the stock in a report on Monday, August 12th. TD Cowen upped their price objective on Progressive from $197.00 to $237.00 and gave the stock a “hold” rating in a report on Friday, November 8th. Finally, BMO Capital Markets lowered their target price on Progressive from $239.00 to $237.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. Seven 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 stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $269.56.

Progressive Stock Performance

NYSE PGR opened at $261.37 on Thursday. The business’s 50-day moving average price is $251.77 and its 200 day moving average price is $229.06. The Progressive Co. has a twelve month low of $149.14 and a twelve month high of $263.85. The company has a market capitalization of $153.11 billion, a PE ratio of 18.99, a price-to-earnings-growth ratio of 0.73 and a beta of 0.36. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.25.

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

Insider Transactions at Progressive

In other news, insider Steven Broz sold 6,122 shares of the firm’s stock in a transaction dated 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 transaction, the insider now directly owns 32,316 shares in the company, valued at $7,600,400.04. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, insider Steven Broz sold 6,122 shares of the stock in a transaction dated 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 sale, the insider now owns 32,316 shares in the company, valued at approximately $7,600,400.04. This trade represents 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 link. Also, Director Dyke Kahina Van sold 2,180 shares of the firm’s stock in a transaction that occurred 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 sale, the director now owns 13,723 shares of the company’s stock, valued at approximately $3,462,038.44. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 65,331 shares of company stock worth $16,415,812 in the last three months. 0.34% of the stock is currently owned by company insiders.

Progressive 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.