Hancock Whitney Corp Raises Stock Holdings in The Progressive Co. (NYSE:PGR)

Hancock Whitney Corp increased its stake in The Progressive Co. (NYSE:PGR) by 0.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,825 shares of the insurance provider’s stock after acquiring an additional 84 shares during the period. Hancock Whitney Corp’s holdings in Progressive were worth $4,270,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in PGR. Loomis Sayles & Co. L P boosted its stake in Progressive by 638.4% during the third quarter. Loomis Sayles & Co. L P now owns 3,825 shares of the insurance provider’s stock worth $971,000 after buying an additional 3,307 shares during the period. Independent Advisor Alliance grew its holdings in Progressive by 5.0% during the 3rd quarter. Independent Advisor Alliance now owns 26,051 shares of the insurance provider’s stock valued at $6,611,000 after purchasing an additional 1,252 shares during the last quarter. Dynamic Technology Lab Private Ltd lifted its stake in Progressive by 381.0% in the third quarter. Dynamic Technology Lab Private Ltd now owns 10,601 shares of the insurance provider’s stock worth $2,690,000 after purchasing an additional 8,397 shares during the last quarter. Daiwa Securities Group Inc. boosted its position in shares of Progressive by 30.3% during the third quarter. Daiwa Securities Group Inc. now owns 92,480 shares of the insurance provider’s stock valued at $23,468,000 after buying an additional 21,484 shares during the period. Finally, Summit Trail Advisors LLC grew its stake in shares of Progressive by 16.2% during the third quarter. Summit Trail Advisors LLC now owns 10,975 shares of the insurance provider’s stock valued at $2,785,000 after buying an additional 1,534 shares during the last quarter. 85.34% of the stock is owned by institutional investors.

Progressive Price Performance

NYSE:PGR opened at $268.55 on Monday. The firm’s fifty day moving average is $253.06 and its two-hundred day moving average is $231.74. The firm has a market cap of $157.32 billion, a price-to-earnings ratio of 19.34, a PEG ratio of 0.74 and a beta of 0.36. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.30 and a current ratio of 0.30. The Progressive Co. has a one year low of $149.14 and a one year high of $268.55.

Progressive (NYSE:PGR) last released its earnings results on Tuesday, October 15th. The insurance provider reported $3.58 EPS for the quarter, topping analysts’ consensus estimates of $3.40 by $0.18. Progressive had a net margin of 11.27% and a return on equity of 33.10%. The business had revenue of $19.43 billion during the quarter, compared to analysts’ expectations of $18.95 billion. Research analysts expect that The Progressive Co. will post 13.17 EPS for the current year.

Insider Buying and Selling at Progressive

In related news, insider Steven Broz sold 2,981 shares of the stock in a transaction on Monday, October 21st. The stock was sold at an average price of $251.15, for a total value of $748,678.15. Following the completion of the transaction, the insider now directly owns 26,353 shares of the company’s stock, valued at approximately $6,618,555.95. This represents a 10.16 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Dyke Kahina Van sold 2,180 shares of the firm’s stock in a transaction 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 completion of the transaction, the director now owns 13,723 shares in the company, valued at $3,462,038.44. The trade was a 13.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 59,209 shares of company stock valued at $14,975,979 over the last quarter. 0.34% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on PGR. Jefferies Financial Group boosted their price objective on Progressive from $257.00 to $295.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Piper Sandler upped their price target on shares of Progressive from $250.00 to $252.00 and gave the stock an “overweight” rating in a report on Thursday, August 15th. StockNews.com upgraded shares of Progressive from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. Bank of America upped their target price on shares of Progressive from $331.00 to $335.00 and gave the stock a “buy” rating in a research note on Monday, November 18th. Finally, Wells Fargo & Company boosted their price target on Progressive from $281.00 to $282.00 and gave the company an “overweight” rating in a report on Tuesday, September 10th. Five equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $269.81.

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.