Progressive Corp (PGR) Shares Sold by Great West Life Assurance Co. Can

Great West Life Assurance Co. Can reduced its stake in shares of Progressive Corp (NYSE:PGR) by 3.6% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 856,995 shares of the insurance provider’s stock after selling 32,219 shares during the period. Great West Life Assurance Co. Can owned approximately 0.15% of Progressive worth $52,236,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Raymond James & Associates boosted its position in shares of Progressive by 84.2% during the 4th quarter. Raymond James & Associates now owns 457,243 shares of the insurance provider’s stock worth $25,752,000 after purchasing an additional 209,006 shares in the last quarter. Ferris Capital LLC boosted its position in shares of Progressive by 90.7% during the 4th quarter. Ferris Capital LLC now owns 84,315 shares of the insurance provider’s stock worth $4,749,000 after purchasing an additional 40,100 shares in the last quarter. Ontario Teachers Pension Plan Board boosted its position in shares of Progressive by 6.3% during the 4th quarter. Ontario Teachers Pension Plan Board now owns 206,161 shares of the insurance provider’s stock worth $11,611,000 after purchasing an additional 12,300 shares in the last quarter. MetLife Investment Advisors LLC purchased a new stake in shares of Progressive during the 4th quarter worth $10,135,000. Finally, CIBC Asset Management Inc boosted its position in shares of Progressive by 7.2% during the 4th quarter. CIBC Asset Management Inc now owns 58,990 shares of the insurance provider’s stock worth $3,322,000 after purchasing an additional 3,976 shares in the last quarter. Institutional investors own 79.89% of the company’s stock.

In other Progressive news, insider Steven Broz sold 2,000 shares of the business’s stock in a transaction dated Wednesday, April 25th. The stock was sold at an average price of $60.62, for a total value of $121,240.00. Following the completion of the transaction, the insider now directly owns 14,073 shares of the company’s stock, valued at $853,105.26. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO John P. Sauerland sold 12,000 shares of the business’s stock in a transaction dated Friday, May 18th. The shares were sold at an average price of $60.52, for a total value of $726,240.00. Following the completion of the transaction, the chief financial officer now directly owns 376,423 shares of the company’s stock, valued at $22,781,119.96. The disclosure for this sale can be found here. Over the last three months, insiders sold 37,600 shares of company stock valued at $2,276,224. Insiders own 0.70% of the company’s stock.

Shares of Progressive opened at $62.35 on Monday, MarketBeat.com reports. Progressive Corp has a twelve month low of $42.10 and a twelve month high of $62.99. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.44 and a quick ratio of 0.44. The stock has a market capitalization of $36.31 billion, a P/E ratio of 23.71, a PEG ratio of 2.09 and a beta of 0.66.

Progressive (NYSE:PGR) last posted its earnings results on Wednesday, May 2nd. The insurance provider reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.19 by $0.10. Progressive had a return on equity of 18.90% and a net margin of 6.75%. analysts expect that Progressive Corp will post 4.07 EPS for the current year.

Several brokerages have commented on PGR. MKM Partners boosted their target price on shares of Progressive to $75.00 and gave the stock a “buy” rating in a research report on Tuesday, May 22nd. Keefe, Bruyette & Woods downgraded Progressive from an “outperform” rating to a “market perform” rating and set a $45.00 price target for the company. in a research note on Thursday, May 17th. Wells Fargo & Co set a $64.00 price target on Progressive and gave the stock a “hold” rating in a research note on Wednesday, May 16th. Buckingham Research lifted their price target on Progressive from $48.00 to $52.00 and gave the stock an “underperform” rating in a research note on Thursday, May 17th. Finally, Deutsche Bank lifted their price target on Progressive from $60.00 to $62.00 and gave the stock a “hold” rating in a research note on Monday, May 21st. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $55.06.

About Progressive

The Progressive Corporation, through its subsidiaries, provides personal and commercial auto insurance, residential property insurance, and other specialty property-casualty insurance and related services primarily in the United States. Its Personal Lines segment writes insurance for personal autos, and recreational and other vehicles.

Institutional Ownership by Quarter for Progressive (NYSE:PGR)

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