The Progressive Co. (NYSE:PGR) Shares Sold by Navellier & Associates Inc.

Navellier & Associates Inc. decreased its stake in The Progressive Co. (NYSE:PGR) by 7.8% during the 3rd quarter, Holdings Channel reports. The firm owned 36,594 shares of the insurance provider’s stock after selling 3,079 shares during the quarter. Progressive makes up approximately 1.3% of Navellier & Associates Inc.’s investment portfolio, making the stock its 14th largest position. Navellier & Associates Inc.’s holdings in Progressive were worth $9,286,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of PGR. Diversified Trust Co raised its stake in shares of Progressive by 84.3% in the 3rd quarter. Diversified Trust Co now owns 25,738 shares of the insurance provider’s stock valued at $6,531,000 after acquiring an additional 11,770 shares during the period. Sycomore Asset Management boosted its stake in Progressive by 9.5% during the 2nd quarter. Sycomore Asset Management now owns 28,128 shares of the insurance provider’s stock worth $5,856,000 after purchasing an additional 2,450 shares during the period. Sumitomo Life Insurance Co. purchased a new position in Progressive during the 2nd quarter worth $981,000. Tidal Investments LLC raised its position in Progressive by 22.2% during the 1st quarter. Tidal Investments LLC now owns 31,330 shares of the insurance provider’s stock worth $6,480,000 after buying an additional 5,691 shares during the last quarter. Finally, Advisors Asset Management Inc. increased its holdings in shares of Progressive by 88.7% in the 1st quarter. Advisors Asset Management Inc. now owns 7,626 shares of the insurance provider’s stock valued at $1,577,000 after purchasing an additional 3,585 shares in the last quarter. Institutional investors and hedge funds own 85.34% of the company’s stock.

Progressive Trading Up 0.4 %

Shares of Progressive stock opened at $258.00 on Thursday. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.25. The stock has a market cap of $151.14 billion, a P/E ratio of 18.68, a P/E/G ratio of 0.71 and a beta of 0.36. The Progressive Co. has a 12-month low of $149.14 and a 12-month high of $263.85. The business’s 50 day moving average is $252.58 and its 200-day moving average is $230.94.

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, topping the consensus estimate of $3.40 by $0.18. The business had revenue of $19.43 billion during the quarter, compared to the consensus estimate of $18.95 billion. Progressive had a return on equity of 33.10% and a net margin of 11.27%. Equities research analysts predict that The Progressive Co. will post 13.09 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have weighed in on PGR. HSBC upgraded shares of Progressive from a “hold” rating to a “buy” rating and set a $253.00 target price for the company in a report on Monday, August 12th. Barclays lifted their price objective on shares of Progressive from $267.00 to $277.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 23rd. Bank of America lifted their price objective on shares of Progressive from $331.00 to $335.00 and gave the stock a “buy” rating in a report on Monday. Roth Mkm boosted their price target on shares of Progressive from $270.00 to $290.00 and gave the company a “buy” rating in a report on Monday, September 16th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Progressive from $280.00 to $290.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Five investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $269.81.

Insider Buying and Selling

In related news, insider Steven Broz sold 2,981 shares of the business’s stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $251.15, for a total transaction of $748,678.15. Following the completion of the transaction, the insider now directly owns 26,353 shares in the company, valued at $6,618,555.95. The trade was a 10.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 value of $10,937,914.00. Following the completion of the sale, the chief executive officer now directly owns 473,735 shares of the company’s stock, valued at approximately $119,475,967. This trade represents a 8.39 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 59,209 shares of company stock valued at $14,975,979 over the last 90 days. Company insiders own 0.34% of the company’s stock.

About Progressive

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.