Campbell & CO Investment Adviser LLC Sells 10,192 Shares of The Progressive Corporation $PGR

Campbell & CO Investment Adviser LLC cut its position in The Progressive Corporation (NYSE:PGR) by 65.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 5,497 shares of the insurance provider’s stock after selling 10,192 shares during the period. Campbell & CO Investment Adviser LLC’s holdings in Progressive were worth $1,467,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Atlantic Union Bankshares Corp purchased a new position in Progressive in the 2nd quarter worth approximately $33,000. Westside Investment Management Inc. raised its stake in shares of Progressive by 900.0% in the second quarter. Westside Investment Management Inc. now owns 130 shares of the insurance provider’s stock worth $34,000 after purchasing an additional 117 shares during the last quarter. Ransom Advisory Ltd bought a new position in shares of Progressive during the first quarter valued at $35,000. Activest Wealth Management boosted its position in shares of Progressive by 6,350.0% during the first quarter. Activest Wealth Management now owns 129 shares of the insurance provider’s stock valued at $37,000 after buying an additional 127 shares during the last quarter. Finally, Richardson Financial Services Inc. increased its holdings in Progressive by 1,885.7% in the 2nd quarter. Richardson Financial Services Inc. now owns 139 shares of the insurance provider’s stock worth $37,000 after buying an additional 132 shares in the last quarter. Hedge funds and other institutional investors own 85.34% of the company’s stock.

Progressive Trading Up 1.0%

Shares of Progressive stock opened at $219.73 on Wednesday. The Progressive Corporation has a 1-year low of $199.90 and a 1-year high of $292.99. The company’s fifty day simple moving average is $232.41 and its 200-day simple moving average is $251.30. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.32 and a quick ratio of 0.31. The stock has a market capitalization of $128.85 billion, a PE ratio of 12.05, a P/E/G ratio of 1.19 and a beta of 0.29.

Progressive (NYSE:PGR) last announced its earnings results on Wednesday, October 15th. The insurance provider reported $4.45 EPS for the quarter, missing analysts’ consensus estimates of $5.04 by ($0.59). The company had revenue of $21.38 billion during the quarter, compared to the consensus estimate of $21.64 billion. Progressive had a return on equity of 33.88% and a net margin of 12.57%.During the same period in the prior year, the business posted $3.58 earnings per share. As a group, equities analysts anticipate that The Progressive Corporation will post 14.68 earnings per share for the current year.

Insider Activity

In related news, CEO Susan Patricia Griffith sold 30,659 shares of the business’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $246.06, for a total transaction of $7,543,953.54. Following the completion of the transaction, the chief executive officer directly owned 476,286 shares in the company, valued at approximately $117,194,933.16. The trade was a 6.05% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Steven Broz sold 1,345 shares of the stock in a transaction that occurred on Friday, September 19th. The stock was sold at an average price of $242.10, for a total transaction of $325,624.50. Following the completion of the sale, the insider directly owned 30,388 shares of the company’s stock, valued at $7,356,934.80. This represents a 4.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 58,500 shares of company stock worth $14,430,089. 0.34% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

PGR has been the topic of several research analyst reports. Wells Fargo & Company lowered their target price on shares of Progressive from $266.00 to $246.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 16th. UBS Group decreased their price objective on shares of Progressive from $268.00 to $261.00 and set a “neutral” rating for the company in a report on Wednesday, October 8th. BMO Capital Markets restated a “market perform” rating on shares of Progressive in a report on Monday, November 3rd. Evercore ISI decreased their target price on shares of Progressive from $275.00 to $273.00 and set an “in-line” rating for the company in a research note on Wednesday, October 1st. Finally, Barclays lowered their price target on Progressive from $271.00 to $257.00 and set an “equal weight” rating on the stock in a report on Monday, October 20th. Eight investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $269.90.

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.