Harbor Capital Advisors Inc. Sells 2,910 Shares of The Progressive Co. (NYSE:PGR)

Harbor Capital Advisors Inc. trimmed its holdings in shares of The Progressive Co. (NYSE:PGR) by 19.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,794 shares of the insurance provider’s stock after selling 2,910 shares during the period. Harbor Capital Advisors Inc.’s holdings in Progressive were worth $2,993,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in shares of Progressive by 0.6% in the first quarter. Vanguard Group Inc. now owns 51,751,851 shares of the insurance provider’s stock valued at $10,703,318,000 after buying an additional 285,070 shares during the last quarter. Capital International Investors raised its stake in shares of Progressive by 15.7% in the first 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 during the last quarter. Legal & General Group Plc lifted its position in shares of Progressive by 1.9% during 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 purchasing an additional 92,212 shares in the last quarter. American Century Companies Inc. grew its stake in shares of Progressive by 3.0% during the second quarter. American Century Companies Inc. now owns 2,392,773 shares of the insurance provider’s stock valued at $497,003,000 after purchasing an additional 69,709 shares during the last quarter. Finally, TD Asset Management Inc increased its holdings in shares of Progressive by 16.8% in the first quarter. TD Asset Management Inc now owns 1,698,526 shares of the insurance provider’s stock valued at $351,289,000 after purchasing an additional 244,541 shares in the last quarter. Institutional investors own 85.34% of the company’s stock.

Insider Buying and Selling

In other Progressive news, insider Steven Broz sold 6,122 shares of Progressive stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $235.19, for a total value of $1,439,833.18. Following the sale, the insider now owns 32,316 shares of the company’s stock, valued at $7,600,400.04. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Progressive news, insider John Jo Murphy sold 9,512 shares of Progressive stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $237.50, for a total value of $2,259,100.00. Following the sale, the insider now directly owns 45,787 shares in the company, valued at approximately $10,874,412.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Steven Broz sold 6,122 shares of the stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $235.19, for a total transaction of $1,439,833.18. Following the transaction, the insider now owns 32,316 shares of the company’s stock, valued at approximately $7,600,400.04. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 74,843 shares of company stock valued at $18,674,912. Company insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on PGR shares. BMO Capital Markets decreased their price objective on Progressive from $239.00 to $237.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. Morgan Stanley lifted their price objective on Progressive from $300.00 to $310.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. Jefferies Financial Group upped their target price on shares of Progressive from $257.00 to $295.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Evercore ISI lifted their price target on shares of Progressive from $243.00 to $246.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Progressive from $242.00 to $251.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Seven equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Progressive currently has an average rating of “Moderate Buy” and a consensus target price of $263.19.

Progressive Stock Performance

Shares of PGR opened at $241.48 on Tuesday. The firm’s 50 day moving average price is $250.86 and its two-hundred day moving average price is $227.13. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.31 and a current ratio of 0.31. The Progressive Co. has a twelve month low of $149.14 and a twelve month high of $260.46. The firm has a market cap of $141.43 billion, a P/E ratio of 17.55, a PEG ratio of 0.67 and a beta of 0.36.

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.