The Progressive Co. (NYSE:PGR) Stock Holdings Lowered by Kentucky Retirement Systems

Kentucky Retirement Systems lowered its position in shares of The Progressive Co. (NYSE:PGR - Free Report) by 7.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 40,801 shares of the insurance provider's stock after selling 3,335 shares during the period. Kentucky Retirement Systems' holdings in Progressive were worth $10,354,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in PGR. Canada Pension Plan Investment Board raised its stake in shares of Progressive by 548.2% during the 1st quarter. Canada Pension Plan Investment Board now owns 811,653 shares of the insurance provider's stock worth $167,866,000 after purchasing an additional 686,433 shares in the last quarter. Capital International Investors lifted its position in shares of Progressive by 15.7% during the 1st quarter. Capital International Investors now owns 4,925,019 shares of the insurance provider's stock worth $1,018,592,000 after buying an additional 670,006 shares during the period. International Assets Investment Management LLC grew its stake in Progressive by 29,701.6% during the third quarter. International Assets Investment Management LLC now owns 596,331 shares of the insurance provider's stock worth $151,325,000 after buying an additional 594,330 shares during the last quarter. SG Americas Securities LLC lifted its position in Progressive by 206.8% during the 3rd quarter. SG Americas Securities LLC now owns 875,660 shares of the insurance provider's stock worth $222,207,000 after buying an additional 590,235 shares in the last quarter. Finally, Swedbank AB bought a new position in Progressive in the 1st quarter valued at $116,852,000. 85.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Progressive

In related news, Director Dyke Kahina Van sold 2,180 shares of the firm's stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $252.28, for a total transaction of $549,970.40. Following the sale, the director now directly owns 13,723 shares in the company, valued at approximately $3,462,038.44. This trade represents a 13.71 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Steven Broz sold 6,122 shares of the stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $235.19, for a total value of $1,439,833.18. Following the transaction, the insider now owns 32,316 shares of the company's stock, valued at approximately $7,600,400.04. This trade represents a 15.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 65,331 shares of company stock worth $16,415,812. 0.34% of the stock is currently owned by insiders.

Progressive Price Performance

Shares of NYSE:PGR traded down $1.72 during trading on Friday, reaching $255.78. The stock had a trading volume of 3,259,995 shares, compared to its average volume of 2,463,986. The Progressive Co. has a 1-year low of $149.14 and a 1-year high of $263.85. The stock has a market cap of $149.84 billion, a PE ratio of 18.59, a PEG ratio of 0.73 and a beta of 0.36. The business has a fifty day moving average price of $252.22 and a 200-day moving average price of $229.82. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.30 and a current ratio of 0.30.

Progressive (NYSE:PGR - Get Free Report) last announced its quarterly earnings data on Tuesday, October 15th. The insurance provider reported $3.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.40 by $0.18. Progressive had a return on equity of 33.10% and a net margin of 11.27%. The business had revenue of $19.43 billion during the quarter, compared to analysts' expectations of $18.95 billion. On average, equities analysts forecast that The Progressive Co. will post 13.11 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on PGR. Keefe, Bruyette & Woods boosted their target price on Progressive from $280.00 to $290.00 and gave the company an "outperform" rating in a research note on Wednesday, October 16th. Hsbc Global Res upgraded Progressive from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 12th. StockNews.com cut shares of Progressive from a "buy" rating to a "hold" rating in a report on Monday, November 11th. TD Cowen increased their price objective on Progressive from $197.00 to $237.00 and gave the company a "hold" rating in a report on Friday, November 8th. Finally, Roth Mkm raised their target price on Progressive from $270.00 to $290.00 and gave the stock a "buy" rating in a research note on Monday, September 16th. Seven analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $269.56.

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.