Delta Lloyd NV Has $1,576,000 Stake in Progressive Corp. (PGR)
Delta Lloyd NV held its position in Progressive Corp. (NYSE:PGR) during the third quarter, Holdings Channel reports. The firm owned 50,016 shares of the company’s stock at the end of the third quarter. Delta Lloyd NV’s holdings in Progressive Corp. were worth $1,576,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. Panagora Asset Management Inc. boosted its position in Progressive Corp. by 14.4% in the first quarter. Panagora Asset Management Inc. now owns 332,939 shares of the company’s stock valued at $11,699,000 after buying an additional 41,807 shares in the last quarter. Squarepoint Ops LLC purchased a new position in Progressive Corp. during the first quarter valued at $1,237,000. Ladenburg Thalmann Financial Services Inc. boosted its position in Progressive Corp. by 485.3% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 51,456 shares of the company’s stock valued at $1,808,000 after buying an additional 42,664 shares in the last quarter. British Columbia Investment Management Corp boosted its position in Progressive Corp. by 8.1% in the second quarter. British Columbia Investment Management Corp now owns 355,132 shares of the company’s stock valued at $11,897,000 after buying an additional 26,564 shares in the last quarter. Finally, DNB Asset Management AS boosted its position in Progressive Corp. by 2.1% in the second quarter. DNB Asset Management AS now owns 49,625 shares of the company’s stock valued at $1,662,000 after buying an additional 1,000 shares in the last quarter. 76.56% of the stock is owned by institutional investors and hedge funds.
Progressive Corp. (NYSE:PGR) traded down 0.83% on Wednesday, reaching $33.30. The company had a trading volume of 5,265,608 shares. The stock has a market capitalization of $19.34 billion, a P/E ratio of 19.93 and a beta of 0.75. Progressive Corp. has a 12-month low of $29.32 and a 12-month high of $35.54. The stock’s 50-day moving average price is $32.31 and its 200-day moving average price is $32.45.
Progressive Corp. (NYSE:PGR) last announced its quarterly earnings data on Thursday, October 13th. The company reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by $0.02. The business earned $6.05 billion during the quarter. Progressive Corp. had a net margin of 4.31% and a return on equity of 12.30%. Progressive Corp.’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.47 EPS. On average, equities research analysts anticipate that Progressive Corp. will post $1.52 EPS for the current fiscal year.
PGR has been the subject of several analyst reports. Zacks Investment Research cut shares of Progressive Corp. from a “hold” rating to a “sell” rating in a research note on Wednesday, August 3rd. Credit Suisse Group AG set a $28.00 price target on Progressive Corp. and gave the company a “sell” rating in a report on Tuesday, August 23rd. William Blair reaffirmed an “outperform” rating on shares of Progressive Corp. in a report on Saturday, September 10th. Keefe, Bruyette & Woods raised Progressive Corp. from an “underperform” rating to a “market perform” rating and raised their price target for the company from $29.00 to $31.00 in a report on Thursday, September 15th. Finally, Deutsche Bank AG cut their price target on Progressive Corp. from $30.00 to $28.00 and set a “sell” rating for the company in a report on Monday, September 19th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $32.41.
In other news, insider M Jeffrey Charney sold 7,000 shares of the stock in a transaction on Friday, September 2nd. The stock was sold at an average price of $32.50, for a total transaction of $227,500.00. Following the completion of the transaction, the insider now owns 71,961 shares in the company, valued at approximately $2,338,732.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.60% of the company’s stock.
Progressive Corp. Company Profile
The Progressive Corporation is an insurance holding company. The Company’s insurance subsidiaries and affiliates provide personal and commercial automobile and property insurance, other specialty property-casualty insurance and related services. The Company operates through Personal Lines, Commercial Lines and Property segments.
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