AIA Group Ltd Has $38.80 Million Stock Position in The Progressive Co. (NYSE:PGR)

AIA Group Ltd boosted its position in The Progressive Co. (NYSE:PGR) by 3.0% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 152,917 shares of the insurance provider’s stock after purchasing an additional 4,453 shares during the period. Progressive comprises 1.0% of AIA Group Ltd’s holdings, making the stock its 29th largest position. AIA Group Ltd’s holdings in Progressive were worth $38,804,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of PGR. Davis Capital Management bought a new position in Progressive in the 3rd quarter valued at about $25,000. WR Wealth Planners LLC raised its holdings in Progressive by 119.6% in the 2nd quarter. WR Wealth Planners LLC now owns 123 shares of the insurance provider’s stock valued at $26,000 after acquiring an additional 67 shares during the period. Hilltop National Bank raised its holdings in Progressive by 126.0% in the 2nd quarter. Hilltop National Bank now owns 165 shares of the insurance provider’s stock valued at $34,000 after acquiring an additional 92 shares during the period. DiNuzzo Private Wealth Inc. raised its holdings in Progressive by 114.1% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 137 shares of the insurance provider’s stock valued at $35,000 after acquiring an additional 73 shares during the period. Finally, LRI Investments LLC bought a new position in Progressive in the 1st quarter valued at about $36,000. 85.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Progressive

In related news, insider John Jo Murphy sold 9,512 shares of Progressive stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $237.50, for a total transaction of $2,259,100.00. Following the completion of the transaction, the insider now owns 45,787 shares of the company’s stock, valued at $10,874,412.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Progressive news, insider Steven Broz sold 2,981 shares of Progressive stock in a transaction on Monday, October 21st. The shares were sold at an average price of $251.15, for a total value of $748,678.15. Following the completion of the sale, the insider now directly owns 26,353 shares of the company’s stock, valued at approximately $6,618,555.95. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider John Jo Murphy sold 9,512 shares of Progressive stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $237.50, for a total transaction of $2,259,100.00. Following the completion of the sale, the insider now directly owns 45,787 shares of the company’s stock, valued at approximately $10,874,412.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 74,843 shares of company stock worth $18,674,912. Company insiders own 0.34% of the company’s stock.

Progressive Price Performance

Shares of NYSE:PGR opened at $255.27 on Friday. The firm has a market cap of $149.50 billion, a PE ratio of 18.55, a price-to-earnings-growth ratio of 0.67 and a beta of 0.36. The firm’s fifty day moving average is $251.12 and its 200-day moving average is $227.59. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.31 and a current ratio of 0.31. The Progressive Co. has a 52 week low of $149.14 and a 52 week high of $260.46.

Progressive (NYSE:PGR) last issued its quarterly earnings results on Tuesday, October 15th. The insurance provider reported $3.58 EPS for the quarter, topping analysts’ consensus estimates of $3.40 by $0.18. The company had revenue of $19.43 billion for the quarter, compared to analyst estimates of $18.95 billion. Progressive had a net margin of 11.27% and a return on equity of 35.21%. Sell-side analysts predict that The Progressive Co. will post 13.15 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have weighed in on PGR shares. Piper Sandler increased their price target on shares of Progressive from $250.00 to $252.00 and gave the company an “overweight” rating in a report on Thursday, August 15th. HSBC raised shares of Progressive from a “hold” rating to a “buy” rating and set a $253.00 target price on the stock in a report on Monday, August 12th. Jefferies Financial Group raised their target price on shares of Progressive from $257.00 to $295.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Bank of America raised their target price on shares of Progressive from $319.00 to $331.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Finally, Citigroup lowered their target price on shares of Progressive from $232.00 to $225.00 and set a “neutral” rating on the stock in a report on Wednesday, July 17th. Seven equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $265.63.

Progressive Company Profile

The Progressive Corporation, an insurance holding company, provides personal and commercial auto, personal residential and commercial property, business related 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.