Natixis Advisors LLC Purchases 2,610 Shares of The Progressive Co. (NYSE:PGR)

Natixis Advisors LLC raised its holdings in The Progressive Co. (NYSE:PGR - Free Report) by 0.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 746,017 shares of the insurance provider's stock after acquiring an additional 2,610 shares during the quarter. Natixis Advisors LLC owned about 0.13% of Progressive worth $189,309,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Diversified Trust Co boosted its holdings in Progressive by 84.3% during the third quarter. Diversified Trust Co now owns 25,738 shares of the insurance provider's stock worth $6,531,000 after buying an additional 11,770 shares during the last quarter. Sycomore Asset Management boosted its position in shares of Progressive by 9.5% during the second quarter. Sycomore Asset Management now owns 28,128 shares of the insurance provider's stock worth $5,856,000 after purchasing an additional 2,450 shares in the last quarter. Sumitomo Life Insurance Co. bought a new stake in shares of Progressive in the 2nd quarter valued at $981,000. Tidal Investments LLC lifted its holdings in Progressive by 22.2% during the first quarter. Tidal Investments LLC now owns 31,330 shares of the insurance provider's stock worth $6,480,000 after acquiring an additional 5,691 shares in the last quarter. Finally, Advisors Asset Management Inc. raised its position in shares of Progressive by 88.7% during the first quarter. Advisors Asset Management Inc. now owns 7,626 shares of the insurance provider's stock worth $1,577,000 after purchasing an additional 3,585 shares during the period. Institutional investors and hedge funds own 85.34% of the company's stock.

Wall Street Analyst Weigh In

PGR has been the subject of several research analyst reports. Evercore ISI upped their price target on shares of Progressive from $277.00 to $285.00 and gave the company an "outperform" rating in a report on Wednesday, November 6th. The Goldman Sachs Group increased their price objective on Progressive from $262.00 to $280.00 and gave the stock a "buy" rating in a report on Wednesday, September 18th. Piper Sandler raised their price target on shares of Progressive from $250.00 to $252.00 and gave the stock an "overweight" rating in a research note on Thursday, August 15th. TD Cowen boosted their price objective on shares of Progressive from $197.00 to $237.00 and gave the stock a "hold" rating in a research report on Friday, November 8th. Finally, HSBC raised shares of Progressive from a "hold" rating to a "buy" rating and set a $253.00 price target on the stock in a research report on Monday, August 12th. 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's stock. Based on data from MarketBeat, Progressive presently has an average rating of "Moderate Buy" and an average price target of $269.56.

Progressive Stock Performance

NYSE:PGR traded down $1.72 during mid-day trading on Friday, hitting $255.78. 3,259,995 shares of the stock were exchanged, compared to its average volume of 2,463,986. The firm's 50-day simple moving average is $252.22 and its 200 day simple moving average is $229.82. The stock has a market capitalization of $149.84 billion, a price-to-earnings ratio of 18.59, a price-to-earnings-growth ratio of 0.73 and a beta of 0.36. The Progressive Co. has a fifty-two week low of $149.14 and a fifty-two week high of $263.85. 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 earnings results on Tuesday, October 15th. The insurance provider reported $3.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.40 by $0.18. Progressive had a net margin of 11.27% and a return on equity of 33.10%. The company had revenue of $19.43 billion during the quarter, compared to analysts' expectations of $18.95 billion. As a group, equities analysts anticipate that The Progressive Co. will post 13.11 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Steven Broz sold 6,122 shares of Progressive 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 directly owns 32,316 shares of the company's stock, valued at $7,600,400.04. This trade represents a 15.93 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Patrick K. Callahan sold 7,696 shares of Progressive stock in a transaction on Friday, September 20th. The shares were sold at an average price of $255.21, for a total value of $1,964,096.16. Following the completion of the transaction, the insider now owns 15,189 shares in the company, valued at approximately $3,876,384.69. The trade was a 33.63 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 65,331 shares of company stock worth $16,415,812 in the last 90 days. Company insiders own 0.34% of the company's stock.

Progressive 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.