American Century Companies Inc. increased its holdings in Progressive Corp (NYSE:PGR) by 41,010.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,720,055 shares of the insurance provider’s stock after buying an additional 1,715,871 shares during the quarter. American Century Companies Inc. owned about 0.30% of Progressive worth $122,193,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Capital Advisors Ltd. LLC increased its holdings in Progressive by 409.1% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 1,400 shares of the insurance provider’s stock worth $105,000 after buying an additional 1,125 shares during the period. ELM Advisors LLC acquired a new position in Progressive in the 3rd quarter worth approximately $107,000. Harvest Fund Management Co. Ltd acquired a new position in Progressive in the 3rd quarter worth approximately $112,000. Trust Co. of Vermont increased its holdings in Progressive by 82.4% in the 2nd quarter. Trust Co. of Vermont now owns 2,006 shares of the insurance provider’s stock worth $119,000 after buying an additional 906 shares during the period. Finally, HighPoint Advisor Group LLC acquired a new position in Progressive in the 3rd quarter worth approximately $208,000. Institutional investors own 79.89% of the company’s stock.
Shares of NYSE:PGR opened at $73.19 on Friday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.42 and a current ratio of 0.42. The company has a market cap of $40.65 billion, a PE ratio of 27.83, a price-to-earnings-growth ratio of 1.99 and a beta of 0.71. Progressive Corp has a 1 year low of $50.18 and a 1 year high of $73.69.
Progressive (NYSE:PGR) last issued its earnings results on Tuesday, October 16th. The insurance provider reported $1.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.43. Progressive had a return on equity of 27.45% and a net margin of 9.42%. The business had revenue of $8.60 billion during the quarter, compared to the consensus estimate of $8.43 billion. During the same period last year, the company earned $0.38 EPS. The company’s revenue for the quarter was up 20.5% on a year-over-year basis. Sell-side analysts expect that Progressive Corp will post 4.81 EPS for the current fiscal year.
Several equities analysts recently weighed in on the stock. Credit Suisse Group set a $79.00 price target on shares of Progressive and gave the stock a “buy” rating in a report on Tuesday, October 9th. ValuEngine upgraded shares of Progressive from a “hold” rating to a “buy” rating in a report on Thursday, October 18th. MKM Partners increased their price target on shares of Progressive to $85.00 and gave the stock a “buy” rating in a report on Wednesday, September 26th. B. Riley increased their price target on shares of Progressive from $68.00 to $71.00 and gave the stock a “neutral” rating in a report on Monday, October 8th. Finally, Zacks Investment Research downgraded shares of Progressive from a “buy” rating to a “hold” rating in a report on Wednesday, September 19th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Progressive presently has a consensus rating of “Hold” and a consensus price target of $69.79.
In other Progressive news, insider William M. Cody sold 50,000 shares of the firm’s stock in a transaction on Monday, August 20th. The stock was sold at an average price of $66.90, for a total value of $3,345,000.00. Following the completion of the sale, the insider now directly owns 116,838 shares of the company’s stock, valued at approximately $7,816,462.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Susan Patricia Griffith sold 12,600 shares of the firm’s stock in a transaction dated Thursday, August 16th. The stock was sold at an average price of $64.14, for a total value of $808,164.00. Following the sale, the chief executive officer now directly owns 265,856 shares of the company’s stock, valued at $17,052,003.84. The disclosure for this sale can be found here. Insiders sold a total of 124,600 shares of company stock valued at $8,325,164 over the last ninety days. Corporate insiders own 0.70% of the company’s stock.
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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