The Progressive Corporation $PGR Stock Position Raised by Ethic Inc.

Ethic Inc. grew its position in The Progressive Corporation (NYSE:PGR) by 2.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 88,992 shares of the insurance provider’s stock after purchasing an additional 2,283 shares during the quarter. Ethic Inc.’s holdings in Progressive were worth $18,449,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. StoneX Group Inc. bought a new stake in shares of Progressive in the third quarter valued at about $241,000. Leelyn Smith LLC acquired a new position in shares of Progressive in the third quarter valued at about $302,000. United Advisor Group LLC grew its stake in shares of Progressive by 9.6% in the third quarter. United Advisor Group LLC now owns 9,308 shares of the insurance provider’s stock valued at $1,930,000 after acquiring an additional 817 shares in the last quarter. Plancorp LLC increased its position in Progressive by 6.6% during the third quarter. Plancorp LLC now owns 1,411 shares of the insurance provider’s stock worth $293,000 after acquiring an additional 87 shares during the period. Finally, Ashton Thomas Private Wealth LLC increased its position in Progressive by 1.0% during the third quarter. Ashton Thomas Private Wealth LLC now owns 11,053 shares of the insurance provider’s stock worth $2,291,000 after acquiring an additional 111 shares during the period. Institutional investors own 85.34% of the company’s stock.

Wall Street Analysts Forecast Growth

PGR has been the subject of several analyst reports. Bank of America lifted their price objective on shares of Progressive from $302.00 to $314.00 in a research note on Thursday, October 1st. JPMorgan Chase & Co. increased their target price on shares of Progressive from $241.00 to $250.00 and gave the stock a “neutral” rating in a research report on Monday, October 5th. UBS Group reaffirmed a “neutral” rating and set a $238.00 target price on shares of Progressive in a report on Monday, October 19th. Raymond James Financial reiterated an “outperform” rating on shares of Progressive in a research report on Friday, October 16th. Finally, TD Cowen cut their price target on Progressive from $266.00 to $222.00 and set a “hold” rating for the company in a research note on Wednesday, July 29th. Nine research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $234.45.

Progressive Stock Performance

NYSE PGR opened at $227.96 on Friday. The firm’s 50 day simple moving average is $218.74 and its 200 day simple moving average is $209.98. The firm has a market capitalization of $132.07 billion, a price-to-earnings ratio of 11.48, a P/E/G ratio of 2.63 and a beta of 0.22. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.24. The Progressive Corporation has a 1 year low of $189.20 and a 1 year high of $241.02.

Insider Buying and Selling at Progressive

In other Progressive news, insider Lori A. Niederst sold 7,339 shares of the firm’s stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $209.29, for a total value of $1,535,979.31. Following the sale, the insider owned 42,567 shares of the company’s stock, valued at approximately $8,908,847.43. This trade represents a 14.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Susan Griffith sold 37,338 shares of Progressive stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $219.50, for a total value of $8,195,691.00. Following the completion of the transaction, the chief executive officer owned 485,438 shares in the company, valued at approximately $106,553,641. The trade was a 7.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 48,352 shares of company stock worth $10,524,258 over the last three months. Corporate insiders own 0.32% of the company’s stock.

About Progressive

Progressive Corporation is an insurance company founded in 1937 and headquartered in Mayfield Village, Ohio. It provides personal and commercial insurance, with a major focus on automobile coverage.

The company offers auto insurance for individuals and businesses, as well as coverage for motorcycles, boats, recreational vehicles, homes and renters. Progressive sells through independent insurance agents and directly to customers, including through digital channels. Its Snapshot program uses driving data to help determine auto insurance rates for participating customers.

Progressive serves customers across the United States.