Sumitomo Mitsui Trust Holdings Inc. grew its holdings in Progressive Corporation (The) (NYSE:PGR) by 10.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,903,768 shares of the insurance provider’s stock after buying an additional 178,770 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned about 0.33% of Progressive Corporation (The) worth $92,180,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Mckinley Capital Management LLC Delaware acquired a new stake in shares of Progressive Corporation (The) in the 2nd quarter valued at approximately $101,000. Cypress Capital Management LLC WY acquired a new stake in shares of Progressive Corporation (The) in the 2nd quarter valued at approximately $106,000. IFP Advisors Inc lifted its holdings in shares of Progressive Corporation (The) by 12.9% in the 2nd quarter. IFP Advisors Inc now owns 2,984 shares of the insurance provider’s stock valued at $132,000 after buying an additional 341 shares during the period. Fiduciary Trust Co. acquired a new stake in shares of Progressive Corporation (The) in the 2nd quarter valued at approximately $143,000. Finally, Cornerstone Advisors Inc. lifted its holdings in shares of Progressive Corporation (The) by 4.1% in the 2nd quarter. Cornerstone Advisors Inc. now owns 3,404 shares of the insurance provider’s stock valued at $150,000 after buying an additional 133 shares during the period. 77.82% of the stock is owned by institutional investors and hedge funds.

Shares of Progressive Corporation (NYSE:PGR) traded down $0.08 during trading hours on Friday, hitting $51.57. The stock had a trading volume of 2,940,100 shares, compared to its average volume of 3,089,228. The stock has a market capitalization of $30,041.40, a P/E ratio of 22.56, a P/E/G ratio of 2.99 and a beta of 0.92. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.50 and a current ratio of 0.50. Progressive Corporation has a twelve month low of $32.54 and a twelve month high of $52.08.

Progressive Corporation (The) (NYSE:PGR) last announced its quarterly earnings data on Tuesday, October 17th. The insurance provider reported $0.41 EPS for the quarter, beating the Zacks’ consensus estimate of $0.34 by $0.07. The business had revenue of $7.14 billion during the quarter, compared to the consensus estimate of $7.04 billion. Progressive Corporation (The) had a return on equity of 15.40% and a net margin of 5.41%. The business’s revenue for the quarter was up 18.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.34 earnings per share. research analysts forecast that Progressive Corporation will post 2.35 earnings per share for the current year.

Several analysts have recently commented on the company. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $58.00 price target on shares of Progressive Corporation (The) in a report on Friday. MKM Partners raised their price target on Progressive Corporation (The) to $60.00 and gave the company a “buy” rating in a report on Thursday. B. Riley reissued a “hold” rating and issued a $46.00 price target on shares of Progressive Corporation (The) in a report on Wednesday. Wells Fargo & Company set a $50.00 price objective on Progressive Corporation (The) and gave the stock a “hold” rating in a report on Wednesday. Finally, Citigroup Inc. lifted their price objective on Progressive Corporation (The) from $50.00 to $51.00 and gave the stock a “neutral” rating in a report on Wednesday, October 18th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $47.76.

In other news, insider Steven Broz sold 1,250 shares of Progressive Corporation (The) stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $48.73, for a total value of $60,912.50. Following the completion of the sale, the insider now owns 12,181 shares of the company’s stock, valued at $593,580.13. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CMO M Jeffrey Charney sold 6,000 shares of the business’s stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $49.50, for a total value of $297,000.00. Following the sale, the chief marketing officer now directly owns 102,038 shares of the company’s stock, valued at approximately $5,050,881. The disclosure for this sale can be found here. In the last ninety days, insiders sold 22,250 shares of company stock valued at $1,085,383. Company insiders own 0.56% of the company’s stock.

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Progressive Corporation (The) 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 the Personal Lines, Commercial Lines and Property segments.

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Institutional Ownership by Quarter for Progressive Corporation (The) (NYSE:PGR)

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