Eqis Capital Management Inc. lifted its holdings in shares of The Progressive Co. (NYSE:PGR) by 32.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,579 shares of the insurance provider’s stock after purchasing an additional 1,361 shares during the quarter. Eqis Capital Management Inc.’s holdings in The Progressive were worth $528,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Blue Square Asset Management LLC acquired a new position in The Progressive in the 2nd quarter valued at $25,000. Baystate Wealth Management LLC lifted its holdings in shares of The Progressive by 62.8% during the 2nd quarter. Baystate Wealth Management LLC now owns 389 shares of the insurance provider’s stock worth $31,000 after acquiring an additional 150 shares during the period. First Financial Corp IN lifted its holdings in The Progressive by 31.1% during the 3rd quarter. First Financial Corp IN now owns 464 shares of the insurance provider’s stock valued at $44,000 after purchasing an additional 110 shares during the last quarter. Cerebellum GP LLC bought a new position in The Progressive during the 3rd quarter valued at about $63,000. Finally, WASHINGTON TRUST Co lifted its holdings in The Progressive by 180.0% during the 2nd quarter. WASHINGTON TRUST Co now owns 966 shares of the insurance provider’s stock valued at $75,000 after purchasing an additional 621 shares during the last quarter. Institutional investors own 80.93% of the company’s stock.
Shares of NYSE PGR opened at $93.14 on Friday. The stock has a market cap of $54.54 billion, a P/E ratio of 10.82, a P/E/G ratio of 2.11 and a beta of 0.54. The firm has a 50 day moving average price of $95.41 and a 200 day moving average price of $87.61. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.44 and a current ratio of 0.51. The Progressive Co. has a 52-week low of $62.18 and a 52-week high of $102.05.
Several equities research analysts have weighed in on PGR shares. Argus cut shares of The Progressive from a “buy” rating to a “hold” rating in a research report on Thursday, August 13th. Benchmark cut shares of The Progressive from a “buy” rating to a “hold” rating in a research report on Friday, July 31st. Keefe, Bruyette & Woods cut shares of The Progressive from a “market perform” rating to an “underperform” rating and set a $87.00 price objective for the company. in a research report on Tuesday, September 22nd. Barclays started coverage on shares of The Progressive in a research report on Tuesday, November 17th. They issued an “underweight” rating and a $87.00 price objective for the company. Finally, Morgan Stanley cut shares of The Progressive from an “overweight” rating to an “equal weight” rating and set a $102.00 price objective for the company. in a research report on Thursday, October 15th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $91.42.
The Progressive Profile
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.
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