Pathstone Holdings LLC Sells 121,377 Shares of The Progressive Co. (NYSE:PGR)

Pathstone Holdings LLC trimmed its holdings in shares of The Progressive Co. (NYSE:PGR - Free Report) by 30.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 280,905 shares of the insurance provider's stock after selling 121,377 shares during the period. Pathstone Holdings LLC's holdings in Progressive were worth $71,282,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Canada Pension Plan Investment Board lifted its holdings in 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 buying an additional 686,433 shares in the last quarter. Capital International Investors boosted its holdings in Progressive by 15.7% in the first quarter. Capital International Investors now owns 4,925,019 shares of the insurance provider's stock valued at $1,018,592,000 after acquiring an additional 670,006 shares during the last quarter. International Assets Investment Management LLC increased its position in Progressive by 29,701.6% in the third quarter. International Assets Investment Management LLC now owns 596,331 shares of the insurance provider's stock worth $151,325,000 after purchasing an additional 594,330 shares during the period. SG Americas Securities LLC raised its holdings 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 purchasing an additional 590,235 shares during the last quarter. Finally, Swedbank AB acquired a new position in Progressive during the 1st quarter valued at about $116,852,000. Institutional investors own 85.34% of the company's stock.

Insider Buying and Selling

In other news, CEO Susan Patricia Griffith sold 43,370 shares of the company's stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $252.20, for a total value of $10,937,914.00. Following the sale, the chief executive officer now directly owns 473,735 shares of the company's stock, valued at approximately $119,475,967. This represents a 8.39 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Steven Broz sold 2,981 shares of Progressive stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $251.15, for a total value of $748,678.15. Following the transaction, the insider now owns 26,353 shares of the company's stock, valued at $6,618,555.95. The trade was a 10.16 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 59,209 shares of company stock worth $14,975,979. Corporate insiders own 0.34% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on PGR. Barclays lifted their price target on shares of Progressive from $267.00 to $277.00 and gave the stock an "equal weight" rating in a research report on Wednesday, October 23rd. Morgan Stanley upped their target price on shares of Progressive from $300.00 to $310.00 and gave the company an "overweight" rating in a research report on Friday, October 18th. Evercore ISI raised their price target on Progressive from $277.00 to $285.00 and gave the stock an "outperform" rating in a research report on Wednesday, November 6th. Roth Mkm lifted their price objective on Progressive from $270.00 to $290.00 and gave the stock a "buy" rating in a research note on Monday, September 16th. Finally, The Goldman Sachs Group boosted their price objective on shares of Progressive from $262.00 to $280.00 and gave the company a "buy" rating in a report on Wednesday, September 18th. Five investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $269.81.

Progressive Stock Down 0.8 %

Shares of NYSE PGR traded down $2.01 during midday trading on Tuesday, reaching $254.51. The company's stock had a trading volume of 1,735,940 shares, compared to its average volume of 2,457,139. The stock has a 50 day simple moving average of $252.43 and a 200-day simple moving average of $230.76. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $149.09 billion, a price-to-earnings ratio of 18.50, a PEG ratio of 0.71 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.

Progressive (NYSE:PGR - Get Free Report) last issued its quarterly earnings results 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 net margin of 11.27% and a return on equity of 33.10%. The firm had revenue of $19.43 billion for the quarter, compared to analyst estimates of $18.95 billion. Equities research analysts predict that The Progressive Co. will post 13.09 earnings per share for the current year.

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.