Boston Partners Sells 1,533 Shares of The Progressive Corporation $PGR

Boston Partners decreased its holdings in The Progressive Corporation (NYSE:PGR) by 12.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,664 shares of the insurance provider’s stock after selling 1,533 shares during the period. Boston Partners’ holdings in Progressive were worth $2,846,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Atlantic Union Bankshares Corp bought a new stake in shares of Progressive in the 2nd quarter valued at approximately $33,000. Westside Investment Management Inc. raised its holdings in Progressive by 900.0% during the 2nd quarter. Westside Investment Management Inc. now owns 130 shares of the insurance provider’s stock valued at $34,000 after buying an additional 117 shares during the period. Ransom Advisory Ltd bought a new stake in Progressive in the first quarter worth $35,000. Activest Wealth Management boosted its stake in Progressive by 6,350.0% during the first quarter. Activest Wealth Management now owns 129 shares of the insurance provider’s stock worth $37,000 after buying an additional 127 shares during the period. Finally, Richardson Financial Services Inc. increased its position in Progressive by 1,885.7% during the second quarter. Richardson Financial Services Inc. now owns 139 shares of the insurance provider’s stock valued at $37,000 after acquiring an additional 132 shares during the last quarter. 85.34% of the stock is owned by institutional investors.

Progressive Stock Up 0.9%

Shares of NYSE:PGR opened at $225.23 on Friday. The business’s 50 day moving average is $231.02 and its 200 day moving average is $250.59. The stock has a market cap of $132.08 billion, a P/E ratio of 12.36, 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. The company has a quick ratio of 0.31, a current ratio of 0.32 and a debt-to-equity ratio of 0.19.

Progressive (NYSE:PGR) last issued its earnings results on Wednesday, October 15th. The insurance provider reported $4.45 earnings per share for the quarter, missing the consensus estimate 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 analysts’ expectations of $21.64 billion. During the same quarter in the prior year, the company posted $3.58 earnings per share. Sell-side analysts predict that The Progressive Corporation will post 14.68 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Citigroup lowered their target price on shares of Progressive from $312.00 to $301.38 and set a “buy” rating for the company in a report on Thursday, October 16th. The Goldman Sachs Group decreased their price objective on shares of Progressive from $276.00 to $245.00 and set a “buy” rating for the company in a research note on Monday, October 27th. Evercore ISI dropped their target price on Progressive from $275.00 to $273.00 and set an “in-line” rating for the company in a research report on Wednesday, October 1st. Barclays reduced their price target 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, Keefe, Bruyette & Woods dropped their price objective on Progressive from $262.00 to $246.00 and set a “market perform” rating for the company in a report on Wednesday, November 5th. Seven investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $266.46.

Insider Buying and Selling at Progressive

In other Progressive news, insider Steven Broz sold 1,345 shares of the stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $220.00, for a total transaction of $295,900.00. Following the transaction, the insider directly owned 29,043 shares in the company, valued at $6,389,460. This represents a 4.43% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John Jo Murphy sold 2,218 shares of the business’s stock in a transaction dated Friday, September 19th. The shares were sold at an average price of $242.10, for a total transaction of $536,977.80. Following the completion of the sale, the insider owned 43,506 shares of the company’s stock, valued at approximately $10,532,802.60. This represents a 4.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 51,782 shares of company stock valued at $12,708,788 in the last ninety days. 0.33% of the stock is owned by insiders.

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.