The Progressive Corporation $PGR Shares Sold by FUKOKU MUTUAL LIFE INSURANCE Co

FUKOKU MUTUAL LIFE INSURANCE Co cut its position in The Progressive Corporation (NYSE:PGR) by 10.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,295 shares of the insurance provider’s stock after selling 258 shares during the quarter. FUKOKU MUTUAL LIFE INSURANCE Co’s holdings in Progressive were worth $612,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PGR. New York Life Investment Management LLC grew its stake in Progressive by 1.4% during the 2nd quarter. New York Life Investment Management LLC now owns 87,760 shares of the insurance provider’s stock valued at $23,420,000 after purchasing an additional 1,192 shares in the last quarter. Baron Silver Stevens Financial Advisors LLC acquired a new stake in shares of Progressive during the second quarter worth approximately $306,000. Wakefield Asset Management LLLP grew its position in shares of Progressive by 199.0% during the second quarter. Wakefield Asset Management LLLP now owns 9,411 shares of the insurance provider’s stock worth $2,511,000 after buying an additional 6,263 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Progressive in the second quarter worth $13,583,000. Finally, Whalen Wealth Management Inc. acquired a new stake in Progressive in the second quarter valued at $647,000. Hedge funds and other institutional investors own 85.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on PGR. BMO Capital Markets reissued a “market perform” rating on shares of Progressive in a report on Monday, November 3rd. Bank of America decreased their price target on Progressive from $351.00 to $346.00 and set a “buy” rating for the company in a research note on Wednesday. JPMorgan Chase & Co. boosted their price objective on Progressive from $301.00 to $303.00 and gave the company an “overweight” rating in a report on Thursday, October 9th. Barclays reduced their target price on Progressive from $271.00 to $257.00 and set an “equal weight” rating on the stock in a report on Monday, October 20th. Finally, HSBC set a $259.00 price target on Progressive and gave the company an “underperform” rating in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $265.65.

Progressive Stock Down 0.8%

NYSE:PGR opened at $223.00 on Thursday. The company has a current ratio of 0.32, a quick ratio of 0.31 and a debt-to-equity ratio of 0.19. The stock has a 50 day moving average of $229.78 and a 200-day moving average of $249.23. The firm has a market capitalization of $130.77 billion, a PE ratio of 12.23, a price-to-earnings-growth ratio of 1.19 and a beta of 0.29. The Progressive Corporation has a 52 week low of $199.90 and a 52 week high of $292.99.

Progressive (NYSE:PGR) last announced its quarterly earnings results on Wednesday, October 15th. The insurance provider reported $4.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.04 by ($0.59). The company had revenue of $21.38 billion during the quarter, compared to the consensus estimate of $21.64 billion. Progressive had a return on equity of 33.88% and a net margin of 12.57%.During the same period last year, the business posted $3.58 EPS. Analysts predict that The Progressive Corporation will post 14.68 EPS for the current year.

Insider Buying and Selling

In related news, insider Steven Broz sold 1,345 shares of Progressive stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $220.00, for a total value of $295,900.00. Following the sale, the insider directly owned 29,043 shares in the company, valued at $6,389,460. This trade represents a 4.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Patrick K. Callahan sold 6,420 shares of the business’s stock in a transaction dated Friday, September 19th. The shares were sold at an average price of $242.22, for a total transaction of $1,555,052.40. Following the transaction, the insider directly owned 15,192 shares of the company’s stock, valued at $3,679,806.24. The trade was a 29.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 51,782 shares of company stock valued at $12,708,788. 0.34% of the stock is owned by corporate insiders.

About Progressive

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.