The Progressive Corporation $PGR Shares Acquired by Trillium Asset Management LLC

Trillium Asset Management LLC raised its holdings in shares of The Progressive Corporation (NYSE:PGR) by 34.9% during the third quarter, HoldingsChannel.com reports. The firm owned 54,085 shares of the insurance provider’s stock after buying an additional 14,003 shares during the period. Trillium Asset Management LLC’s holdings in Progressive were worth $11,213,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. IMG Wealth Management Inc. acquired a new stake in shares of Progressive in the 2nd quarter worth $26,000. Meeder Asset Management Inc. purchased a new position in Progressive during the 2nd quarter worth $26,000. Kilter Group LLC purchased a new position in Progressive during the 2nd quarter worth $27,000. Latitude Advisors LLC acquired a new position in Progressive during the 3rd quarter valued at about $27,000. Finally, Axiom Investment Management LLC acquired a new position in Progressive during the 1st quarter valued at about $31,000. Hedge funds and other institutional investors own 85.34% of the company’s stock.

Insider Activity

In other Progressive news, CEO Susan Griffith sold 37,338 shares of the business’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $219.50, for a total transaction of $8,195,691.00. Following the sale, the chief executive officer owned 485,438 shares in the company, valued at approximately $106,553,641. The trade was a 7.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Steven Broz sold 1,225 shares of the stock in a transaction dated Thursday, October 22nd. The shares were sold at an average price of $223.32, for a total value of $273,567.00. Following the completion of the transaction, the insider directly owned 28,807 shares in the company, valued at $6,433,179.24. This represents a 4.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 41,013 shares of company stock worth $8,988,278. Company insiders own 0.32% of the company’s stock.

Progressive Stock Performance

Shares of NYSE PGR traded down $0.02 during mid-day trading on Friday, hitting $235.47. The stock had a trading volume of 1,525,451 shares, compared to its average volume of 2,395,193. The firm has a market cap of $136.42 billion, a PE ratio of 11.86, a PEG ratio of 2.73 and a beta of 0.22. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.29 and a current ratio of 0.29. The company has a 50 day moving average of $219.95 and a two-hundred day moving average of $210.64. The Progressive Corporation has a twelve month low of $189.20 and a twelve month high of $241.02.

Wall Street Analyst Weigh In

A number of research firms have commented on PGR. Weiss Ratings upgraded Progressive from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, October 8th. Mizuho dropped their price target on Progressive from $236.00 to $230.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 16th. Jefferies Financial Group restated a “hold” rating and set a $228.00 price objective (up from $213.00) on shares of Progressive in a report on Wednesday, August 19th. UBS Group reaffirmed a “neutral” rating and issued a $238.00 price objective on shares of Progressive in a research report on Monday, October 19th. Finally, Bank of America lifted their target price on shares of Progressive from $302.00 to $314.00 in a research note on Thursday, October 1st. Nine analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $234.45.

Progressive Profile

Progressive Corporation is an insurance company founded in 1937 and headquartered in Mayfield Village, Ohio. It provides personal and commercial insurance, with a major focus on automobile coverage. The company offers auto insurance for individuals and businesses, as well as coverage for motorcycles, boats, recreational vehicles, homes and renters. Progressive sells through independent insurance agents and directly to customers, including through digital channels. Its Snapshot program uses driving data to help determine auto insurance rates for participating customers.