12,846 Shares in The Progressive Co. (NYSE:PGR) Acquired by Consolidated Planning Corp

Consolidated Planning Corp bought a new stake in shares of The Progressive Co. (NYSE:PGR) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 12,846 shares of the insurance provider’s stock, valued at approximately $3,260,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PGR. Canada Pension Plan Investment Board lifted its holdings in shares of Progressive by 548.2% in the first quarter. Canada Pension Plan Investment Board now owns 811,653 shares of the insurance provider’s stock worth $167,866,000 after buying an additional 686,433 shares in the last quarter. Capital International Investors grew its position in shares of Progressive by 15.7% during the 1st quarter. Capital International Investors now owns 4,925,019 shares of the insurance provider’s stock valued at $1,018,592,000 after purchasing an additional 670,006 shares in the last quarter. International Assets Investment Management LLC grew its position in shares of Progressive by 29,701.6% during the 3rd quarter. International Assets Investment Management LLC now owns 596,331 shares of the insurance provider’s stock valued at $151,325,000 after purchasing an additional 594,330 shares in the last quarter. SG Americas Securities LLC increased its holdings in shares of Progressive by 206.8% in the third quarter. SG Americas Securities LLC now owns 875,660 shares of the insurance provider’s stock worth $222,207,000 after purchasing an additional 590,235 shares during the period. Finally, Swedbank AB purchased a new stake in shares of Progressive in the first quarter worth $116,852,000. 85.34% of the stock is currently owned by institutional investors.

Progressive Trading Down 1.3 %

Shares of PGR stock opened at $255.27 on Friday. The business has a 50-day moving average of $251.12 and a 200 day moving average of $227.59. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.31 and a quick ratio of 0.31. The Progressive Co. has a 1-year low of $149.14 and a 1-year high of $260.46. The stock has a market capitalization of $149.50 billion, a PE ratio of 18.55, a P/E/G ratio of 0.67 and a beta of 0.36.

Progressive (NYSE:PGR) last announced its quarterly earnings data on Tuesday, October 15th. The insurance provider reported $3.58 earnings per share for the quarter, beating the consensus estimate of $3.40 by $0.18. Progressive had a return on equity of 35.21% and a net margin of 11.27%. The firm had revenue of $19.43 billion during the quarter, compared to the consensus estimate of $18.95 billion. As a group, sell-side analysts anticipate that The Progressive Co. will post 13.15 earnings per share for the current year.

Insider Activity at Progressive

In other Progressive news, CEO Susan Patricia Griffith sold 43,370 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $252.20, for a total value of $10,937,914.00. Following the sale, the chief executive officer now owns 473,735 shares of the company’s stock, valued at $119,475,967. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Steven Broz sold 2,982 shares of the firm’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $260.00, for a total value of $775,320.00. Following the completion of the sale, the insider now directly owns 29,334 shares of the company’s stock, valued at approximately $7,626,840. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Susan Patricia Griffith sold 43,370 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $252.20, for a total transaction of $10,937,914.00. Following the transaction, the chief executive officer now owns 473,735 shares in the company, valued at $119,475,967. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 74,843 shares of company stock worth $18,674,912 in the last three months. 0.34% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms recently commented on PGR. Keefe, Bruyette & Woods boosted their target price on Progressive from $280.00 to $290.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. StockNews.com lowered Progressive from a “buy” rating to a “hold” rating in a report on Friday, November 1st. The Goldman Sachs Group upped their price objective on shares of Progressive from $262.00 to $280.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. JPMorgan Chase & Co. lifted their target price on shares of Progressive from $242.00 to $251.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Finally, Barclays increased their price target on shares of Progressive from $267.00 to $277.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 23rd. Seven equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Progressive has a consensus rating of “Moderate Buy” and an average target price of $265.63.

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.