The Progressive Corporation $PGR Stock Position Lessened by FUKOKU MUTUAL LIFE INSURANCE Co

FUKOKU MUTUAL LIFE INSURANCE Co trimmed its holdings in shares of The Progressive Corporation (NYSE:PGR) by 10.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,295 shares of the insurance provider’s stock after selling 258 shares during the period. FUKOKU MUTUAL LIFE INSURANCE Co’s holdings in Progressive were worth $612,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of PGR. Rise Advisors LLC increased its stake in Progressive by 7.4% during the 1st quarter. Rise Advisors LLC now owns 521 shares of the insurance provider’s stock valued at $147,000 after buying an additional 36 shares during the period. Pinnacle Wealth Management Advisory Group LLC increased its stake in shares of Progressive by 2.1% during the first quarter. Pinnacle Wealth Management Advisory Group LLC now owns 1,927 shares of the insurance provider’s stock valued at $545,000 after acquiring an additional 39 shares during the period. LRI Investments LLC increased its stake in shares of Progressive by 13.4% during the second quarter. LRI Investments LLC now owns 338 shares of the insurance provider’s stock valued at $90,000 after acquiring an additional 40 shares during the period. True North Advisors LLC raised its holdings in Progressive by 4.0% during the first quarter. True North Advisors LLC now owns 1,055 shares of the insurance provider’s stock worth $299,000 after purchasing an additional 41 shares in the last quarter. Finally, Prosperity Consulting Group LLC lifted its position in Progressive by 1.1% in the first quarter. Prosperity Consulting Group LLC now owns 3,824 shares of the insurance provider’s stock worth $1,082,000 after purchasing an additional 42 shares during the period. Institutional investors and hedge funds own 85.34% of the company’s stock.

Insider Activity

In other news, insider Steven Broz sold 1,345 shares of the firm’s stock in a transaction on Tuesday, November 11th. The stock was sold at an average price of $220.00, for a total value of $295,900.00. Following the completion of the sale, the insider owned 29,043 shares of the company’s stock, valued at $6,389,460. This trade represents a 4.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Susan Patricia Griffith sold 30,659 shares of the company’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $246.06, for a total value of $7,543,953.54. Following the transaction, the chief executive officer directly owned 476,286 shares in the company, valued at $117,194,933.16. The trade was a 6.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 51,782 shares of company stock valued at $12,708,788. 0.34% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

PGR has been the topic of a number of research reports. BMO Capital Markets reissued a “market perform” rating on shares of Progressive in a research note on Monday, November 3rd. Barclays dropped their price target on shares of Progressive from $271.00 to $257.00 and set an “equal weight” rating on the stock in a research report on Monday, October 20th. Wells Fargo & Company reduced their price objective on shares of Progressive from $266.00 to $246.00 and set an “equal weight” rating for the company in a research report on Thursday, October 16th. Jefferies Financial Group downgraded shares of Progressive from a “buy” rating to a “hold” rating and dropped their target price for the stock from $261.00 to $232.00 in a report on Friday, November 14th. Finally, Hsbc Global Res upgraded shares of Progressive from a “hold” rating to a “strong-buy” rating in a report on Monday. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $265.65.

Progressive Price Performance

PGR stock opened at $223.00 on Thursday. The Progressive Corporation has a one year low of $199.90 and a one year high of $292.99. The firm has a 50-day moving average of $229.78 and a two-hundred day moving average of $249.23. The firm has a market capitalization of $130.77 billion, a PE ratio of 12.23, a P/E/G ratio of 1.19 and a beta of 0.29. The company has a current ratio of 0.32, a quick ratio of 0.31 and a debt-to-equity ratio of 0.19.

Progressive (NYSE:PGR) last released its earnings results on Wednesday, October 15th. The insurance provider reported $4.45 earnings per share for the quarter, missing the consensus estimate of $5.04 by ($0.59). The firm had revenue of $21.38 billion during the quarter, compared to analysts’ expectations of $21.64 billion. Progressive had a return on equity of 33.88% and a net margin of 12.57%.During the same period last year, the business earned $3.58 earnings per share. On average, analysts forecast that The Progressive Corporation will post 14.68 earnings per share for the current year.

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.