Thrivent Financial for Lutherans Has $35.47 Million Stock Position in The Progressive Co. (NYSE:PGR)

Thrivent Financial for Lutherans lifted its position in The Progressive Co. (NYSE:PGR - Free Report) by 26.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 139,782 shares of the insurance provider's stock after buying an additional 29,050 shares during the quarter. Thrivent Financial for Lutherans' holdings in Progressive were worth $35,471,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in PGR. Capital International Investors increased its holdings in 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 purchasing an additional 670,006 shares during the period. Legal & General Group Plc lifted its stake in Progressive by 1.9% in the second quarter. Legal & General Group Plc now owns 4,922,743 shares of the insurance provider's stock worth $1,022,507,000 after acquiring an additional 92,212 shares during the last quarter. American Century Companies Inc. grew its holdings in Progressive by 3.0% during the 2nd quarter. American Century Companies Inc. now owns 2,392,773 shares of the insurance provider's stock worth $497,003,000 after acquiring an additional 69,709 shares in the last quarter. 1832 Asset Management L.P. increased its position in shares of Progressive by 13.5% in the 1st quarter. 1832 Asset Management L.P. now owns 1,685,868 shares of the insurance provider's stock valued at $348,671,000 after purchasing an additional 200,118 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Progressive by 20.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,467,191 shares of the insurance provider's stock valued at $304,775,000 after purchasing an additional 247,144 shares in the last quarter. Institutional investors and hedge funds own 85.34% of the company's stock.

Progressive Trading Down 0.8 %

PGR stock traded down $1.93 on Tuesday, hitting $254.59. 783,828 shares of the company were exchanged, compared to its average volume of 2,452,603. The Progressive Co. has a twelve month low of $149.14 and a twelve month high of $263.85. The business's fifty day moving average is $252.32 and its two-hundred day moving average is $230.44. The stock has a market capitalization of $149.14 billion, a price-to-earnings ratio of 18.49, a price-to-earnings-growth ratio of 0.71 and a beta of 0.36. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.30 and a quick 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. The company had revenue of $19.43 billion for the quarter, compared to analyst estimates of $18.95 billion. Progressive had a return on equity of 33.10% and a net margin of 11.27%. As a group, research analysts forecast that The Progressive Co. will post 13.09 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. StockNews.com upgraded Progressive from a "hold" rating to a "buy" rating in a report on Tuesday. Keefe, Bruyette & Woods upped their price objective on Progressive from $280.00 to $290.00 and gave the company an "outperform" rating in a research note on Wednesday, October 16th. Evercore ISI increased their price target on shares of Progressive from $277.00 to $285.00 and gave the stock an "outperform" rating in a report on Wednesday, November 6th. Roth Mkm boosted their target price on shares of Progressive from $270.00 to $290.00 and gave the stock a "buy" rating in a research report on Monday, September 16th. Finally, Jefferies Financial Group raised their price objective on Progressive from $257.00 to $295.00 and gave the company a "buy" rating in a research note on Wednesday, October 9th. Five research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $269.81.

Insider Buying and Selling

In related news, insider Patrick K. Callahan sold 7,696 shares of the stock in a transaction dated 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 $3,876,384.69. This represents a 33.63 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Dyke Kahina Van sold 2,180 shares of the firm's stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $252.28, for a total value of $549,970.40. Following the transaction, the director now directly owns 13,723 shares of the company's stock, valued at $3,462,038.44. This represents a 13.71 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 59,209 shares of company stock valued at $14,975,979. 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.