Campbell & CO Investment Adviser LLC Sells 10,192 Shares of The Progressive Corporation $PGR

Campbell & CO Investment Adviser LLC lowered its holdings in shares of The Progressive Corporation (NYSE:PGR) by 65.0% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 5,497 shares of the insurance provider’s stock after selling 10,192 shares during the period. Campbell & CO Investment Adviser LLC’s holdings in Progressive were worth $1,467,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in PGR. Nuveen LLC purchased a new stake in Progressive during the 1st quarter valued at approximately $1,473,180,000. GQG Partners LLC boosted its position in shares of Progressive by 61.4% during the first quarter. GQG Partners LLC now owns 8,346,133 shares of the insurance provider’s stock worth $2,362,039,000 after acquiring an additional 3,174,632 shares during the last quarter. C WorldWide Group Holding A S grew its stake in Progressive by 12,110.3% during the first quarter. C WorldWide Group Holding A S now owns 1,248,628 shares of the insurance provider’s stock valued at $353,374,000 after acquiring an additional 1,238,402 shares in the last quarter. Alliancebernstein L.P. increased its holdings in Progressive by 15.2% in the 1st quarter. Alliancebernstein L.P. now owns 8,263,157 shares of the insurance provider’s stock valued at $2,338,556,000 after acquiring an additional 1,091,828 shares during the last quarter. Finally, Axiom Investors LLC DE purchased a new stake in Progressive in the 1st quarter worth $194,557,000. 85.34% of the stock is owned by hedge funds and other institutional investors.

Progressive Price Performance

Progressive stock opened at $219.73 on Wednesday. The Progressive Corporation has a 12-month low of $199.90 and a 12-month high of $292.99. The company has a current ratio of 0.32, a quick ratio of 0.31 and a debt-to-equity ratio of 0.19. The firm has a 50-day moving average price of $232.41 and a 200-day moving average price of $251.30. The firm has a market capitalization of $128.85 billion, a PE ratio of 12.05, a price-to-earnings-growth ratio of 1.19 and a beta of 0.29.

Progressive (NYSE:PGR) last posted its quarterly earnings data on Wednesday, October 15th. The insurance provider reported $4.45 earnings per share for the quarter, missing analysts’ consensus estimates of $5.04 by ($0.59). The firm had revenue of $21.38 billion during the quarter, compared to analysts’ expectations 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 company earned $3.58 earnings per share. As a group, equities research analysts forecast that The Progressive Corporation will post 14.68 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on PGR shares. BMO Capital Markets restated a “market perform” rating on shares of Progressive in a research report on Monday, November 3rd. UBS Group dropped their price target on Progressive from $268.00 to $261.00 and set a “neutral” rating for the company in a research note on Wednesday, October 8th. Evercore ISI reduced their price objective on Progressive from $275.00 to $273.00 and set an “in-line” rating on the stock in a research note on Wednesday, October 1st. Morgan Stanley set a $214.00 price objective on Progressive and gave the stock an “underweight” rating in a report on Monday, October 20th. Finally, Keefe, Bruyette & Woods cut their target price on shares of Progressive from $262.00 to $246.00 and set a “market perform” rating for the company in a report on Wednesday, November 5th. Eight equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $269.90.

Insider Activity

In other news, insider John Jo Murphy sold 2,218 shares of the stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $250.78, for a total value of $556,230.04. Following the sale, the insider directly owned 45,724 shares in the company, valued at approximately $11,466,664.72. This represents a 4.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Patrick K. Callahan sold 6,420 shares of the firm’s stock in a transaction that occurred on 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 sale, the insider directly owned 15,192 shares of the company’s stock, valued at $3,679,806.24. This represents a 29.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 58,500 shares of company stock valued at $14,430,089. 0.34% of the stock is currently owned by corporate 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.