United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund Acquires 12,830 Shares of The Progressive Corporation $PGR

United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund boosted its holdings in The Progressive Corporation (NYSE:PGR) by 27.9% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 58,734 shares of the insurance provider’s stock after purchasing an additional 12,830 shares during the quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund’s holdings in Progressive were worth $15,674,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Baltimore Washington Financial Advisors Inc. boosted its stake in shares of Progressive by 2,951.5% in the second quarter. Baltimore Washington Financial Advisors Inc. now owns 77,996 shares of the insurance provider’s stock valued at $20,814,000 after buying an additional 75,440 shares during the period. Quadrant Capital Group LLC raised its holdings in Progressive by 13.9% in the 2nd quarter. Quadrant Capital Group LLC now owns 13,730 shares of the insurance provider’s stock valued at $3,664,000 after acquiring an additional 1,672 shares in the last quarter. Employees Retirement System of Texas raised its holdings in Progressive by 1.1% in the 2nd quarter. Employees Retirement System of Texas now owns 60,217 shares of the insurance provider’s stock valued at $16,070,000 after acquiring an additional 673 shares in the last quarter. Russell Investments Group Ltd. lifted its position in shares of Progressive by 4.1% during the 2nd quarter. Russell Investments Group Ltd. now owns 937,248 shares of the insurance provider’s stock valued at $249,961,000 after acquiring an additional 36,540 shares during the period. Finally, Maia Wealth LLC grew its holdings in shares of Progressive by 5.4% during the 2nd quarter. Maia Wealth LLC now owns 857 shares of the insurance provider’s stock worth $229,000 after purchasing an additional 44 shares in the last quarter. 85.34% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Barclays dropped their price target on Progressive from $271.00 to $257.00 and set an “equal weight” rating for the company in a research note on Monday, October 20th. JPMorgan Chase & Co. boosted their target price on shares of Progressive from $301.00 to $303.00 and gave the company an “overweight” rating in a research report on Thursday, October 9th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Progressive in a report on Thursday, November 20th. Morgan Stanley set a $214.00 price objective on shares of Progressive and gave the company an “underweight” rating in a research note on Monday, October 20th. Finally, Wells Fargo & Company upped their target price on Progressive from $246.00 to $247.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 20th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $266.52.

Progressive Trading Up 1.4%

NYSE PGR opened at $229.54 on Thursday. The company has a market cap of $134.60 billion, a price-to-earnings ratio of 12.59, a price-to-earnings-growth ratio of 1.19 and a beta of 0.29. The Progressive Corporation has a twelve month low of $199.90 and a twelve month high of $292.99. The company has a quick ratio of 0.31, a current ratio of 0.32 and a debt-to-equity ratio of 0.19. The business’s fifty day moving average is $227.83 and its 200 day moving average is $247.23.

Progressive (NYSE:PGR) last issued its earnings results on Wednesday, October 15th. The insurance provider reported $4.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.04 by ($0.59). Progressive had a return on equity of 33.88% and a net margin of 12.57%.The firm had revenue of $21.38 billion during the quarter, compared to analyst estimates of $21.64 billion. During the same period in the previous year, the company earned $3.58 EPS. As a group, sell-side analysts expect that The Progressive Corporation will post 14.68 EPS for the current fiscal year.

Insider Buying and Selling at Progressive

In other Progressive news, insider Steven Broz sold 1,345 shares of the company’s stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $228.29, for a total value of $307,050.05. Following the completion of the transaction, the insider directly owned 27,698 shares in the company, valued at approximately $6,323,176.42. This represents a 4.63% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider John Jo Murphy sold 2,218 shares of the business’s stock in a transaction on Friday, September 19th. The stock was sold at an average price of $242.10, for a total transaction of $536,977.80. Following the completion of the sale, the insider directly owned 43,506 shares in the company, valued at approximately $10,532,802.60. This represents a 4.85% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 43,332 shares of company stock worth $10,564,558 in the last 90 days. Corporate insiders own 0.34% of the company’s stock.

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.