Commonwealth Equity Services LLC boosted its stake in Progressive Corp (NYSE:PGR) by 2.8% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 37,079 shares of the insurance provider’s stock after acquiring an additional 1,001 shares during the period. Commonwealth Equity Services LLC’s holdings in Progressive were worth $2,634,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of the stock. Capco Asset Management LLC increased its position in Progressive by 4.1% in the 3rd quarter. Capco Asset Management LLC now owns 191,337 shares of the insurance provider’s stock valued at $13,593,000 after acquiring an additional 7,581 shares during the period. Sentry Investment Management LLC acquired a new position in Progressive during the 3rd quarter worth approximately $661,000. 12th Street Asset Management Company LLC increased its position in Progressive by 1.5% during the 3rd quarter. 12th Street Asset Management Company LLC now owns 413,049 shares of the insurance provider’s stock worth $29,341,000 after purchasing an additional 6,131 shares during the period. O Shaughnessy Asset Management LLC increased its position in Progressive by 22.4% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 21,885 shares of the insurance provider’s stock worth $1,555,000 after purchasing an additional 3,999 shares during the period. Finally, Unigestion Holding SA increased its position in Progressive by 190.9% during the 3rd quarter. Unigestion Holding SA now owns 551,476 shares of the insurance provider’s stock worth $39,176,000 after purchasing an additional 361,931 shares during the period. Hedge funds and other institutional investors own 80.49% of the company’s stock.
In related news, insider Susan Patricia Griffith sold 12,600 shares of the company’s stock in a transaction that occurred on Thursday, November 15th. The stock was sold at an average price of $64.87, for a total value of $817,362.00. Following the sale, the insider now owns 253,256 shares of the company’s stock, valued at approximately $16,428,716.72. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider John A. Barbagallo sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, October 26th. The shares were sold at an average price of $68.02, for a total value of $3,401,000.00. Following the completion of the sale, the insider now directly owns 177,368 shares in the company, valued at approximately $12,064,571.36. The disclosure for this sale can be found here. 0.70% of the stock is currently owned by corporate insiders.
PGR stock opened at $62.95 on Friday. Progressive Corp has a 1 year low of $50.79 and a 1 year high of $73.69. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.42 and a current ratio of 0.42. The company has a market capitalization of $37.10 billion, a P/E ratio of 23.94, a P/E/G ratio of 1.83 and a beta of 0.71.
Progressive (NYSE:PGR) last posted its earnings results on Tuesday, October 16th. The insurance provider reported $1.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.43. Progressive had a return on equity of 27.45% and a net margin of 9.42%. The firm had revenue of $8.60 billion for the quarter, compared to analyst estimates of $8.43 billion. During the same quarter in the prior year, the company earned $0.38 EPS. Progressive’s revenue was up 20.5% on a year-over-year basis. Analysts expect that Progressive Corp will post 4.74 earnings per share for the current year.
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Progressive Company Profile
The Progressive Corporation, through its subsidiaries, provides personal and commercial auto insurance, residential property insurance, and other specialty property-casualty insurance and related services primarily in the United States. Its Personal Lines segment writes insurance for personal autos, and recreational and other vehicles.
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