Schroder Investment Management Group lifted its position in Progressive Corp (NYSE:PGR) by 224.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 168,420 shares of the insurance provider’s stock after acquiring an additional 116,524 shares during the quarter. Schroder Investment Management Group’s holdings in Progressive were worth $8,094,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Progressive by 2.9% in the 2nd quarter. Vanguard Group Inc. now owns 38,642,819 shares of the insurance provider’s stock worth $1,703,762,000 after acquiring an additional 1,091,051 shares in the last quarter. BlackRock Inc. grew its stake in shares of Progressive by 1.8% in the 2nd quarter. BlackRock Inc. now owns 36,533,106 shares of the insurance provider’s stock worth $1,610,745,000 after acquiring an additional 636,087 shares in the last quarter. Artisan Partners Limited Partnership grew its stake in shares of Progressive by 40.4% in the 2nd quarter. Artisan Partners Limited Partnership now owns 11,586,365 shares of the insurance provider’s stock worth $510,843,000 after acquiring an additional 3,332,180 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Progressive by 55.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 7,492,446 shares of the insurance provider’s stock worth $362,783,000 after acquiring an additional 2,687,224 shares in the last quarter. Finally, TIAA CREF Investment Management LLC grew its stake in shares of Progressive by 32.7% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 7,118,721 shares of the insurance provider’s stock worth $313,864,000 after acquiring an additional 1,752,867 shares in the last quarter. Hedge funds and other institutional investors own 79.55% of the company’s stock.

PGR has been the subject of several recent analyst reports. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $58.00 target price on shares of Progressive in a research note on Friday, November 17th. B. Riley reiterated a “hold” rating and issued a $46.00 target price on shares of Progressive in a research note on Wednesday, November 15th. Wells Fargo & Company reiterated a “hold” rating and issued a $47.00 target price on shares of Progressive in a research note on Tuesday, September 19th. UBS reduced their target price on shares of Progressive from $53.00 to $52.00 and set a “buy” rating for the company in a research note on Tuesday, September 19th. Finally, Credit Suisse Group upped their target price on shares of Progressive from $38.00 to $42.00 and gave the stock an “underperform” rating in a research note on Monday, September 18th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $49.82.

In other Progressive news, insider Jeffrey W. Basch sold 9,000 shares of the company’s stock in a transaction dated Wednesday, October 18th. The shares were sold at an average price of $48.23, for a total transaction of $434,070.00. Following the sale, the insider now directly owns 70,965 shares of the company’s stock, valued at $3,422,641.95. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider M Jeffrey Charney sold 6,000 shares of the company’s stock in a transaction dated Friday, October 20th. The shares were sold at an average price of $48.90, for a total transaction of $293,400.00. Following the sale, the insider now directly owns 108,038 shares in the company, valued at $5,283,058.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 21,000 shares of company stock worth $1,024,470. Insiders own 0.56% of the company’s stock.

Progressive Corp (NYSE:PGR) opened at $54.99 on Friday. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 0.36. The firm has a market cap of $31,982.18, a PE ratio of 24.01, a P/E/G ratio of 3.13 and a beta of 0.94. Progressive Corp has a fifty-two week low of $33.86 and a fifty-two week high of $54.99.

Progressive (NYSE:PGR) last issued its quarterly earnings results on Tuesday, October 17th. The insurance provider reported $0.41 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.07. The company had revenue of $7.14 billion for the quarter, compared to the consensus estimate of $7.04 billion. Progressive had a net margin of 5.41% and a return on equity of 15.40%. The firm’s quarterly revenue was up 18.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.34 EPS. analysts predict that Progressive Corp will post 2.4 earnings per share for the current fiscal year.

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Progressive 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.

Institutional Ownership by Quarter for Progressive (NYSE:PGR)

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