UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Increases Position in The Progressive Co. (NYSE:PGR)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of The Progressive Co. (NYSE:PGR) by 7.0% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,067,924 shares of the insurance provider’s stock after purchasing an additional 330,667 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.87% of Progressive worth $1,286,036,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Davis Capital Management acquired a new position in shares of Progressive in the third quarter valued at approximately $25,000. WR Wealth Planners LLC grew its stake in shares of Progressive by 119.6% in the second quarter. WR Wealth Planners LLC now owns 123 shares of the insurance provider’s stock worth $26,000 after acquiring an additional 67 shares in the last quarter. Hilltop National Bank grew its stake in shares of Progressive by 126.0% in the second quarter. Hilltop National Bank now owns 165 shares of the insurance provider’s stock worth $34,000 after acquiring an additional 92 shares in the last quarter. DiNuzzo Private Wealth Inc. increased its position in shares of Progressive by 114.1% during the third quarter. DiNuzzo Private Wealth Inc. now owns 137 shares of the insurance provider’s stock worth $35,000 after acquiring an additional 73 shares during the period. Finally, LRI Investments LLC acquired a new stake in shares of Progressive in the first quarter valued at $36,000. 85.34% of the stock is currently owned by hedge funds and other institutional investors.

Progressive Stock Performance

Shares of PGR stock opened at $266.86 on Thursday. The stock’s 50-day moving average is $253.65 and its two-hundred day moving average is $232.72. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.30 and a current ratio of 0.30. The Progressive Co. has a 1 year low of $149.14 and a 1 year high of $270.62. The firm has a market cap of $156.33 billion, a price-to-earnings ratio of 19.39, a PEG ratio of 0.74 and a beta of 0.36.

Progressive (NYSE:PGR) last released its quarterly earnings results on Tuesday, October 15th. The insurance provider reported $3.58 earnings per share (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 firm had revenue of $19.43 billion for the quarter, compared to the consensus estimate of $18.95 billion. Analysts predict that The Progressive Co. will post 13.2 earnings per share for the current year.

Insider Transactions at Progressive

In other news, insider Steven Broz sold 2,981 shares of the stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $251.15, for a total transaction of $748,678.15. Following the completion of the sale, the insider now owns 26,353 shares in the company, valued at approximately $6,618,555.95. This represents a 10.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Susan Patricia Griffith sold 43,370 shares of the business’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 completion of the transaction, the chief executive officer now owns 473,735 shares in the company, valued at $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 ninety days, insiders have sold 59,209 shares of company stock worth $14,975,979. Insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. TD Cowen boosted their target price on Progressive from $197.00 to $237.00 and gave the stock a “hold” rating in a research note on Friday, November 8th. Barclays boosted their price objective on Progressive from $267.00 to $277.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 23rd. Hsbc Global Res raised shares of Progressive from a “hold” rating to a “strong-buy” rating in a report on Monday, August 12th. Morgan Stanley boosted their price target on shares of Progressive from $300.00 to $310.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. Finally, Roth Mkm increased their price objective on shares of Progressive from $270.00 to $290.00 and gave the company a “buy” rating in a research report on Monday, September 16th. Five research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $269.81.

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.