The Progressive Corporation $PGR Shares Acquired by Vinva Investment Management Ltd

Vinva Investment Management Ltd increased its holdings in shares of The Progressive Corporation (NYSE:PGR) by 91.5% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 26,786 shares of the insurance provider’s stock after purchasing an additional 12,800 shares during the quarter. Vinva Investment Management Ltd’s holdings in Progressive were worth $6,546,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PGR. Davis Capital Management acquired a new stake in shares of Progressive during the third quarter valued at about $25,000. Ameriflex Group Inc. boosted its holdings in Progressive by 106.6% in the third quarter. Ameriflex Group Inc. now owns 126 shares of the insurance provider’s stock valued at $31,000 after purchasing an additional 65 shares during the last quarter. Atlantic Union Bankshares Corp acquired a new stake in Progressive during the 2nd quarter valued at approximately $33,000. Howard Hughes Medical Institute acquired a new stake in Progressive during the 2nd quarter valued at approximately $34,000. Finally, TruNorth Capital Management LLC increased its holdings in Progressive by 450.0% during the 3rd quarter. TruNorth Capital Management LLC now owns 165 shares of the insurance provider’s stock worth $41,000 after purchasing an additional 135 shares during the last quarter. Hedge funds and other institutional investors own 85.34% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. BMO Capital Markets cut their target price on Progressive from $239.00 to $232.00 and set a “market perform” rating on the stock in a research report on Thursday, January 29th. Evercore set a $230.00 price target on shares of Progressive in a research note on Thursday, February 19th. UBS Group reduced their price objective on shares of Progressive from $226.00 to $218.00 and set a “neutral” rating on the stock in a research note on Monday, February 23rd. Jefferies Financial Group set a $216.00 price objective on shares of Progressive in a report on Wednesday, February 11th. Finally, Zacks Research raised shares of Progressive from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 24th. Seven equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Progressive has an average rating of “Hold” and an average target price of $245.50.

Progressive Trading Up 0.2%

NYSE PGR opened at $210.92 on Monday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.35 and a current ratio of 0.35. The Progressive Corporation has a one year low of $197.92 and a one year high of $292.99. The company has a 50-day simple moving average of $208.98 and a 200-day simple moving average of $223.78. The firm has a market capitalization of $123.58 billion, a PE ratio of 10.96, a price-to-earnings-growth ratio of 9.19 and a beta of 0.33.

Insider Buying and Selling at Progressive

In other news, insider Andrew J. Quigg sold 1,649 shares of the stock in a transaction that occurred on Wednesday, January 21st. The stock was sold at an average price of $204.35, for a total transaction of $336,973.15. Following the sale, the insider directly owned 39,626 shares in the company, valued at approximately $8,097,573.10. This represents a 4.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Maribel Pumarejo sold 739 shares of the firm’s stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $203.25, for a total value of $150,201.75. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 9,103 shares of company stock worth $1,883,924. Insiders own 0.33% of the company’s stock.

Progressive Company Profile

Progressive Corporation is a large U.S.-based property and casualty insurer that primarily underwrites personal auto insurance along with a broad suite of related products. Its offerings include coverage for private passenger automobiles, commercial auto fleets, motorcycles, boats and recreational vehicles, as well as homeowners, renters, umbrella and other specialty P&C products. Progressive also provides claims handling, risk management and related services to individual and commercial policyholders.

The company distributes its products through a mix of direct channels—online and by phone—and an extensive independent agent network.