TD Waterhouse Canada Inc. Has $16.58 Million Holdings in The Progressive Corporation $PGR

TD Waterhouse Canada Inc. lifted its holdings in shares of The Progressive Corporation (NYSE:PGR) by 468.8% during the 2nd quarter, Holdings Channel reports. The firm owned 62,757 shares of the insurance provider’s stock after purchasing an additional 51,724 shares during the period. TD Waterhouse Canada Inc.’s holdings in Progressive were worth $16,576,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. FineMark National Bank & Trust lifted its stake in Progressive by 1.2% during the second quarter. FineMark National Bank & Trust now owns 63,318 shares of the insurance provider’s stock worth $16,897,000 after purchasing an additional 733 shares during the last quarter. Primecap Management Co. CA boosted its stake in shares of Progressive by 2.2% in the 2nd quarter. Primecap Management Co. CA now owns 1,339,480 shares of the insurance provider’s stock valued at $357,454,000 after purchasing an additional 28,720 shares in the last quarter. Highview Capital Management LLC DE grew its holdings in shares of Progressive by 3.2% during the 2nd quarter. Highview Capital Management LLC DE now owns 11,662 shares of the insurance provider’s stock valued at $3,112,000 after purchasing an additional 359 shares during the last quarter. Wealthspire Advisors LLC increased its position in Progressive by 3.6% during the 2nd quarter. Wealthspire Advisors LLC now owns 6,238 shares of the insurance provider’s stock worth $1,665,000 after purchasing an additional 219 shares in the last quarter. Finally, First American Trust FSB lifted its stake in Progressive by 50.7% in the 2nd quarter. First American Trust FSB now owns 38,448 shares of the insurance provider’s stock valued at $10,260,000 after purchasing an additional 12,927 shares during the last quarter. Institutional investors own 85.34% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on PGR. Bank of America decreased their target price on shares of Progressive from $351.00 to $346.00 and set a “buy” rating on the stock in a research note on Wednesday. UBS Group dropped their target price on Progressive from $268.00 to $261.00 and set a “neutral” rating for the company in a research report on Wednesday, October 8th. Wall Street Zen lowered Progressive from a “buy” rating to a “hold” rating in a research note on Sunday, September 21st. Jefferies Financial Group downgraded Progressive from a “buy” rating to a “hold” rating and lowered their price objective for the company from $261.00 to $232.00 in a research note on Friday, November 14th. Finally, Morgan Stanley set a $214.00 price objective on shares of Progressive and gave the company an “underweight” rating in a report on Monday, October 20th. One research 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 issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $265.65.

Insider Activity at Progressive

In related news, insider Patrick K. Callahan sold 6,420 shares of the business’s stock in a transaction dated Friday, September 19th. The stock was sold at an average price of $242.22, for a total value of $1,555,052.40. Following the completion of the sale, 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 position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Steven Broz sold 1,345 shares of the stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $220.00, for a total value of $295,900.00. Following the completion of the transaction, the insider owned 29,043 shares in the company, valued at approximately $6,389,460. The trade was a 4.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 51,782 shares of company stock valued at $12,708,788. 0.34% of the stock is currently owned by company insiders.

Progressive Trading Down 0.8%

Shares of PGR stock opened at $223.00 on Thursday. The Progressive Corporation has a fifty-two week low of $199.90 and a fifty-two week high of $292.99. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.31 and a current ratio of 0.32. The stock has a 50 day simple moving average of $229.78 and a two-hundred day simple moving average of $249.23. The company has a market cap of $130.77 billion, a P/E ratio of 12.23, a PEG ratio of 1.19 and a beta of 0.29.

Progressive (NYSE:PGR) last announced its quarterly earnings data on Wednesday, October 15th. The insurance provider reported $4.45 EPS for the quarter, missing the consensus estimate of $5.04 by ($0.59). The company had revenue of $21.38 billion for the quarter, compared to analyst estimates 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 earned $3.58 EPS. Research analysts forecast that The Progressive Corporation will post 14.68 earnings per share for the current year.

Progressive 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.