The Progressive Co. (NYSE:PGR) Shares Sold by Tranquility Partners LLC

Tranquility Partners LLC lessened its holdings in The Progressive Co. (NYSE:PGR - Free Report) by 67.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,321 shares of the insurance provider's stock after selling 2,758 shares during the quarter. Tranquility Partners LLC's holdings in Progressive were worth $335,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Capital International Investors boosted its stake 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 acquiring an additional 670,006 shares in the last quarter. Legal & General Group Plc boosted its stake in shares of Progressive by 1.9% during the 2nd 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 in the last quarter. American Century Companies Inc. boosted its stake in shares of 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. Swiss National Bank boosted its stake in shares of Progressive by 0.3% during the 3rd quarter. Swiss National Bank now owns 1,738,400 shares of the insurance provider's stock worth $441,136,000 after acquiring an additional 4,400 shares in the last quarter. Finally, 1832 Asset Management L.P. lifted its stake in 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 buying an additional 200,118 shares in the last quarter. Hedge funds and other institutional investors own 85.34% of the company's stock.

Insider Transactions at Progressive

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 transaction of $1,964,096.16. Following the sale, the insider now owns 15,189 shares in the company, valued at $3,876,384.69. This represents a 33.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Susan Patricia Griffith sold 43,370 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $252.20, for a total transaction of $10,937,914.00. Following the sale, the chief executive officer now owns 473,735 shares in the company, valued at approximately $119,475,967. This trade represents a 8.39 % decrease in their position. The disclosure for this sale can be found here. Over 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.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Piper Sandler upped their target price on Progressive from $250.00 to $252.00 and gave the company an "overweight" rating in a research note on Thursday, August 15th. Bank of America upped their target price on Progressive from $331.00 to $335.00 and gave the company a "buy" rating in a research note on Monday. HSBC upgraded Progressive from a "hold" rating to a "buy" rating and set a $253.00 price target for the company in a report on Monday, August 12th. Evercore ISI boosted their price target on Progressive from $277.00 to $285.00 and gave the company an "outperform" rating in a report on Wednesday, November 6th. Finally, JPMorgan Chase & Co. boosted their price target on Progressive from $242.00 to $251.00 and gave the company an "overweight" rating in a report on Thursday, October 10th. Five 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 company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $269.81.

Progressive Stock Down 0.8 %

NYSE:PGR traded down $2.01 on Tuesday, reaching $254.51. The stock had a trading volume of 1,735,940 shares, compared to its average volume of 2,457,139. 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 company has a 50-day moving average of $252.43 and a 200 day moving average of $230.76. The stock has a market cap of $149.09 billion, a P/E ratio of 18.50, a price-to-earnings-growth ratio of 0.71 and a beta of 0.36. The Progressive Co. has a 12-month low of $149.14 and a 12-month high of $263.85.

Progressive (NYSE:PGR - Get Free Report) last posted its quarterly earnings data on Tuesday, October 15th. The insurance provider reported $3.58 earnings per share 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. On average, research analysts predict that The Progressive Co. will post 13.09 earnings per share for the current year.

About Progressive

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.