Crossmark Global Holdings Inc. raised its position in The Progressive Co. (NYSE:PGR - Free Report) by 72.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 92,849 shares of the insurance provider's stock after buying an additional 38,975 shares during the quarter. Crossmark Global Holdings Inc.'s holdings in Progressive were worth $23,561,000 at the end of the most recent reporting period.
Several other large investors have also recently added to or reduced their stakes in the company. Empowered Funds LLC boosted its stake in shares of Progressive by 7.2% in the first quarter. Empowered Funds LLC now owns 17,110 shares of the insurance provider's stock valued at $3,539,000 after buying an additional 1,153 shares during the period. Oppenheimer & Co. Inc. raised its position in shares of Progressive by 21.3% in the 1st quarter. Oppenheimer & Co. Inc. now owns 6,638 shares of the insurance provider's stock valued at $1,373,000 after buying an additional 1,166 shares in the last quarter. KCM Investment Advisors LLC bought a new stake in shares of Progressive during the 1st quarter worth approximately $324,000. Atomi Financial Group Inc. lifted its holdings in shares of Progressive by 19.3% during the 1st quarter. Atomi Financial Group Inc. now owns 2,800 shares of the insurance provider's stock worth $579,000 after acquiring an additional 452 shares during the period. Finally, Concurrent Investment Advisors LLC increased its stake in Progressive by 66.4% in the first quarter. Concurrent Investment Advisors LLC now owns 6,814 shares of the insurance provider's stock valued at $1,409,000 after acquiring an additional 2,719 shares during the last quarter. Institutional investors own 85.34% of the company's stock.
Several equities analysts have recently issued reports on the company. Citigroup decreased their price target on Progressive from $232.00 to $225.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 17th. 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 note on Wednesday, October 16th. Morgan Stanley increased their target price on shares of Progressive from $300.00 to $310.00 and gave the stock an "overweight" rating in a report on Friday, October 18th. Hsbc Global Res raised shares of Progressive from a "hold" rating to a "strong-buy" rating in a report on Monday, August 12th. Finally, BMO Capital Markets cut their target price on shares of Progressive from $239.00 to $237.00 and set an "outperform" rating on the stock in a research report on Wednesday, August 7th. Seven investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $269.56.
Check Out Our Latest Stock Analysis on Progressive
In related news, Director Dyke Kahina Van sold 2,180 shares of the business's stock in a transaction on Friday, September 27th. The shares were sold at an average price of $252.28, for a total transaction of $549,970.40. Following the transaction, the director now owns 13,723 shares in the company, valued at $3,462,038.44. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Progressive news, insider John Jo Murphy sold 9,512 shares of Progressive stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $237.50, for a total transaction of $2,259,100.00. Following the completion of the transaction, the insider now owns 45,787 shares in the company, valued at approximately $10,874,412.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Dyke Kahina Van sold 2,180 shares of the stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $252.28, for a total value of $549,970.40. Following the completion of the sale, the director now directly owns 13,723 shares of the company's stock, valued at approximately $3,462,038.44. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 74,843 shares of company stock valued at $18,674,912 in the last quarter. 0.34% of the stock is currently owned by company insiders.
NYSE PGR traded up $6.25 during mid-day trading on Friday, reaching $261.52. 2,603,589 shares of the stock were exchanged, compared to its average volume of 2,472,977. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.30 and a quick ratio of 0.31. The stock has a market cap of $153.20 billion, a P/E ratio of 19.01, a P/E/G ratio of 0.72 and a beta of 0.36. The stock has a 50 day simple moving average of $251.41 and a 200-day simple moving average of $228.12. The Progressive Co. has a one year low of $149.14 and a one year high of $263.39.
Progressive (NYSE:PGR - Get Free Report) last announced its quarterly earnings data on Tuesday, October 15th. The insurance provider reported $3.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.40 by $0.18. Progressive had a return on equity of 33.10% and a net margin of 11.27%. The company had revenue of $19.43 billion for the quarter, compared to the consensus estimate of $18.95 billion. On average, analysts anticipate that The Progressive Co. will post 13.14 EPS for the current year.
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.
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