Public Sector Pension Investment Board Lowers Position in The Progressive Co. (NYSE:PGR)

Public Sector Pension Investment Board decreased its stake in shares of The Progressive Co. (NYSE:PGRGet Rating) by 31.2% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 56,258 shares of the insurance provider’s stock after selling 25,559 shares during the period. Public Sector Pension Investment Board’s holdings in Progressive were worth $6,541,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of PGR. EverSource Wealth Advisors LLC lifted its position in shares of Progressive by 14.4% during the first quarter. EverSource Wealth Advisors LLC now owns 697 shares of the insurance provider’s stock valued at $79,000 after purchasing an additional 88 shares in the last quarter. Parkside Financial Bank & Trust lifted its position in shares of Progressive by 2.0% during the 1st quarter. Parkside Financial Bank & Trust now owns 4,753 shares of the insurance provider’s stock worth $542,000 after buying an additional 95 shares in the last quarter. Trail Ridge Investment Advisors LLC boosted its stake in shares of Progressive by 2.7% in the 2nd quarter. Trail Ridge Investment Advisors LLC now owns 3,787 shares of the insurance provider’s stock worth $440,000 after buying an additional 98 shares during the last quarter. Trust Co. of Vermont grew its holdings in shares of Progressive by 4.7% in the second quarter. Trust Co. of Vermont now owns 2,247 shares of the insurance provider’s stock valued at $261,000 after acquiring an additional 100 shares in the last quarter. Finally, Thoroughbred Financial Services LLC increased its position in shares of Progressive by 4.6% during the first quarter. Thoroughbred Financial Services LLC now owns 2,406 shares of the insurance provider’s stock valued at $274,000 after acquiring an additional 106 shares during the last quarter. Institutional investors own 85.05% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on PGR shares. Morgan Stanley upped their price objective on Progressive from $121.00 to $130.00 and gave the company an “equal weight” rating in a research note on Friday, August 19th. Credit Suisse Group increased their target price on shares of Progressive from $124.00 to $127.00 and gave the company a “neutral” rating in a research report on Thursday, August 18th. StockNews.com cut shares of Progressive from a “buy” rating to a “hold” rating in a report on Friday, October 14th. Raymond James increased their price objective on Progressive from $135.00 to $140.00 and gave the company an “outperform” rating in a report on Monday, August 29th. Finally, Evercore ISI lowered their target price on Progressive to $133.00 in a research note on Thursday, October 20th. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $120.38.

Insider Activity at Progressive

In other Progressive news, CEO Susan Patricia Griffith sold 50,000 shares of the stock in a transaction that occurred on Monday, October 17th. The shares were sold at an average price of $116.85, for a total value of $5,842,500.00. Following the sale, the chief executive officer now directly owns 431,822 shares in the company, valued at approximately $50,458,400.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Steven Broz sold 5,170 shares of the business’s stock in a transaction dated Thursday, October 20th. The stock was sold at an average price of $118.88, for a total transaction of $614,609.60. Following the completion of the transaction, the insider now owns 36,663 shares of the company’s stock, valued at $4,358,497.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Susan Patricia Griffith sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, October 17th. The shares were sold at an average price of $116.85, for a total transaction of $5,842,500.00. Following the completion of the sale, the chief executive officer now directly owns 431,822 shares in the company, valued at $50,458,400.70. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 111,618 shares of company stock valued at $13,578,528. Corporate insiders own 0.37% of the company’s stock.

Progressive Trading Up 0.8 %

Shares of PGR opened at $131.09 on Thursday. The business’s 50-day moving average price is $123.98 and its 200-day moving average price is $119.71. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.45. The Progressive Co. has a twelve month low of $92.44 and a twelve month high of $131.49. The stock has a market cap of $76.70 billion, a PE ratio of 92.97, a P/E/G ratio of 1.68 and a beta of 0.47.

Progressive Profile

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The Progressive Corporation, an insurance holding company, provides personal and commercial auto, personal residential and commercial property, general liability, and other specialty property-casualty insurance products and related services in the United States. It operates in three segments: Personal Lines, Commercial Lines, and Property.

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Institutional Ownership by Quarter for Progressive (NYSE:PGR)

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