Haverford Trust Co. acquired a new position in Progressive Corp (NYSE:PGR) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,723 shares of the insurance provider’s stock, valued at approximately $210,000.
Other institutional investors also recently added to or reduced their stakes in the company. Manchester Financial Inc. acquired a new position in shares of Progressive during the 2nd quarter worth approximately $25,000. First Financial Corp IN acquired a new position in shares of Progressive during the 3rd quarter worth approximately $25,000. Synovus Financial Corp raised its stake in shares of Progressive by 752.4% during the 2nd quarter. Synovus Financial Corp now owns 358 shares of the insurance provider’s stock worth $27,000 after buying an additional 316 shares during the period. Archford Capital Strategies LLC raised its stake in shares of Progressive by 49.5% during the 2nd quarter. Archford Capital Strategies LLC now owns 408 shares of the insurance provider’s stock worth $33,000 after buying an additional 135 shares during the period. Finally, Mirova acquired a new position in shares of Progressive during the 2nd quarter worth approximately $43,000. Institutional investors and hedge funds own 78.67% of the company’s stock.
NYSE PGR traded up $1.11 during mid-day trading on Friday, hitting $73.67. The stock had a trading volume of 5,105,250 shares, compared to its average volume of 3,089,688. The firm’s 50 day moving average is $73.13 and its 200 day moving average is $77.38. Progressive Corp has a twelve month low of $56.71 and a twelve month high of $84.96. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.42 and a quick ratio of 0.36. The stock has a market capitalization of $40.28 billion, a price-to-earnings ratio of 16.67, a PEG ratio of 1.75 and a beta of 0.65.
Progressive (NYSE:PGR) last posted its quarterly earnings data on Thursday, November 7th. The insurance provider reported $1.33 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.30 by $0.03. Progressive had a return on equity of 25.83% and a net margin of 8.69%. As a group, equities research analysts expect that Progressive Corp will post 5.37 earnings per share for the current year.
Several research analysts have recently weighed in on the company. Raymond James set a $93.00 target price on Progressive and gave the stock a “buy” rating in a research note on Thursday, September 26th. Credit Suisse Group reduced their target price on Progressive from $90.00 to $85.00 and set an “outperform” rating for the company in a research note on Friday, October 18th. UBS Group upped their target price on Progressive from $88.00 to $95.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Evercore ISI assumed coverage on Progressive in a research note on Thursday, October 17th. They set an “in-line” rating and a $78.00 target price for the company. Finally, Buckingham Research upped their target price on Progressive from $74.00 to $78.00 and gave the stock a “neutral” rating in a research note on Thursday, September 12th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $82.64.
In related news, CEO Susan Patricia Griffith sold 22,500 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $76.47, for a total value of $1,720,575.00. Following the completion of the transaction, the chief executive officer now directly owns 352,795 shares of the company’s stock, valued at approximately $26,978,233.65. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Steven Broz sold 5,000 shares of the company’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $70.84, for a total value of $354,200.00. Following the completion of the sale, the insider now owns 25,295 shares of the company’s stock, valued at $1,791,897.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 39,500 shares of company stock valued at $3,005,735. 0.39% of the stock is owned by corporate insiders.
The Progressive Corporation, through its subsidiaries, provides personal and commercial auto insurance, residential property insurance, and other specialty property-casualty insurance and related services primarily in the United States. Its Personal Lines segment writes insurance for personal autos, and recreational and other vehicles.
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