Fieldview Capital Management LLC Boosts Stake in The Progressive Corporation $PGR

Fieldview Capital Management LLC lifted its position in The Progressive Corporation (NYSE:PGR) by 1,685.3% in the third quarter, Holdings Channel reports. The firm owned 19,228 shares of the insurance provider’s stock after acquiring an additional 18,151 shares during the period. Progressive accounts for approximately 0.8% of Fieldview Capital Management LLC’s holdings, making the stock its 20th biggest position. Fieldview Capital Management LLC’s holdings in Progressive were worth $4,748,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its holdings in shares of Progressive by 15.6% in the 4th quarter. Brighton Jones LLC now owns 3,392 shares of the insurance provider’s stock valued at $813,000 after acquiring an additional 457 shares during the period. Revolve Wealth Partners LLC acquired a new stake in Progressive during the 4th quarter worth $269,000. Bison Wealth LLC grew its position in Progressive by 3.2% during the 4th quarter. Bison Wealth LLC now owns 2,568 shares of the insurance provider’s stock worth $615,000 after purchasing an additional 80 shares during the last quarter. Atlantic Union Bankshares Corp acquired a new position in Progressive in the second quarter valued at $33,000. Finally, Savant Capital LLC raised its holdings in shares of Progressive by 4.3% in the second quarter. Savant Capital LLC now owns 18,531 shares of the insurance provider’s stock valued at $4,945,000 after buying an additional 761 shares during the last quarter. Institutional investors and hedge funds own 85.34% of the company’s stock.

Insider Activity at Progressive

In other Progressive news, insider Andrew J. Quigg sold 1,649 shares of the company’s stock in a transaction dated Wednesday, January 21st. The shares were sold at an average price of $204.35, for a total transaction of $336,973.15. Following the transaction, the insider directly owned 39,626 shares in the company, valued at approximately $8,097,573.10. This represents a 4.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Steven Broz sold 1,344 shares of the stock in a transaction dated Friday, December 19th. The shares were sold at an average price of $224.80, for a total transaction of $302,131.20. Following the completion of the transaction, the insider directly owned 26,354 shares of the company’s stock, valued at approximately $5,924,379.20. This trade represents a 4.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 9,103 shares of company stock worth $1,883,924. 0.33% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. The Goldman Sachs Group reissued a “buy” rating and set a $225.00 price target on shares of Progressive in a report on Monday, February 23rd. Barclays upgraded Progressive from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $257.00 to $265.00 in a research note on Thursday, January 8th. Evercore set a $230.00 target price on Progressive in a report on Thursday, February 19th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Progressive in a report on Monday, December 29th. Finally, HSBC lowered shares of Progressive from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 16th. Seven analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Progressive has a consensus rating of “Hold” and an average price target of $245.50.

Progressive Trading Up 0.2%

NYSE:PGR opened at $210.92 on Monday. The Progressive Corporation has a 1 year low of $197.92 and a 1 year high of $292.99. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.35 and a current ratio of 0.35. The stock has a fifty day moving average price of $208.98 and a two-hundred day moving average price of $223.78. The stock has a market capitalization of $123.58 billion, a price-to-earnings ratio of 10.96, a PEG ratio of 9.19 and a beta of 0.33.

Progressive Company Profile

Progressive Corporation is a large U.S.-based property and casualty insurer that primarily underwrites personal auto insurance along with a broad suite of related products. Its offerings include coverage for private passenger automobiles, commercial auto fleets, motorcycles, boats and recreational vehicles, as well as homeowners, renters, umbrella and other specialty P&C products. Progressive also provides claims handling, risk management and related services to individual and commercial policyholders.

The company distributes its products through a mix of direct channels—online and by phone—and an extensive independent agent network.