Versor Investments LP Has $763,000 Position in The Progressive Co. (NYSE:PGR)

Versor Investments LP increased its stake in shares of The Progressive Co. (NYSE:PGR - Free Report) by 200.5% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 3,005 shares of the insurance provider's stock after acquiring an additional 2,005 shares during the period. Versor Investments LP's holdings in Progressive were worth $763,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Progressive by 0.6% during the first quarter. Vanguard Group Inc. now owns 51,751,851 shares of the insurance provider's stock worth $10,703,318,000 after acquiring an additional 285,070 shares during the last quarter. 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 last quarter. Legal & General Group Plc raised its position in shares of Progressive by 1.9% in the 2nd quarter. Legal & General Group Plc now owns 4,922,743 shares of the insurance provider's stock valued at $1,022,507,000 after purchasing 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 valued at $497,003,000 after buying an additional 69,709 shares during the last quarter. Finally, 1832 Asset Management L.P. grew its position in shares of Progressive by 13.5% during the first quarter. 1832 Asset Management L.P. now owns 1,685,868 shares of the insurance provider's stock worth $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.

Progressive Price Performance

Shares of NYSE PGR traded down $0.33 during mid-day trading on Wednesday, reaching $262.01. 413,536 shares of the company traded hands, compared to its average volume of 2,458,386. The firm has a market cap of $153.49 billion, a PE ratio of 19.05, a price-to-earnings-growth ratio of 0.73 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. The Progressive Co. has a fifty-two week low of $149.14 and a fifty-two week high of $263.85. The stock has a fifty day simple moving average of $251.77 and a 200-day simple moving average of $229.06.

Progressive (NYSE:PGR - Get Free Report) last posted its quarterly earnings data on Tuesday, October 15th. The insurance provider reported $3.58 EPS for the quarter, topping analysts' consensus estimates of $3.40 by $0.18. Progressive had a return on equity of 33.10% and a net margin of 11.27%. The company had revenue of $19.43 billion for the quarter, compared to the consensus estimate of $18.95 billion. Equities research analysts anticipate that The Progressive Co. will post 13.15 EPS for the current fiscal year.

Analyst Ratings Changes

PGR has been the subject of several recent analyst reports. TD Cowen raised their price objective on shares of Progressive from $197.00 to $237.00 and gave the stock a "hold" rating in a report on Friday, November 8th. Evercore ISI raised their price objective on Progressive from $277.00 to $285.00 and gave the stock an "outperform" rating in a research note on Wednesday, November 6th. BMO Capital Markets dropped their target price on shares of Progressive from $239.00 to $237.00 and set an "outperform" rating on the stock in a report on Wednesday, August 7th. Keefe, Bruyette & Woods raised their price target on shares of Progressive from $280.00 to $290.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 16th. Finally, Bank of America boosted their price objective on shares of Progressive from $319.00 to $331.00 and gave the company a "buy" rating in a research report on Wednesday, October 16th. Seven analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $269.56.

Insider Buying and Selling

In other Progressive news, insider Steven Broz sold 2,981 shares of Progressive stock in a transaction that occurred on Monday, October 21st. The shares were 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 in the company, valued at approximately $6,618,555.95. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, Director Dyke Kahina Van sold 2,180 shares of the stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $252.28, for a total value of $549,970.40. Following the completion of the sale, the director now directly owns 13,723 shares of the company's stock, valued at approximately $3,462,038.44. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Steven Broz sold 2,981 shares of Progressive stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $251.15, for a total value of $748,678.15. Following the transaction, the insider now directly owns 26,353 shares in the company, valued at approximately $6,618,555.95. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 74,843 shares of company stock worth $18,674,912 in the last ninety days. 0.34% of the stock is currently owned by corporate insiders.

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.