Moloney Securities Asset Management LLC Raises Stock Holdings in The Progressive Co. (NYSE:PGR)

Moloney Securities Asset Management LLC boosted its holdings in shares of The Progressive Co. (NYSE:PGR) by 7.0% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,905 shares of the insurance provider’s stock after purchasing an additional 585 shares during the quarter. Moloney Securities Asset Management LLC’s holdings in Progressive were worth $2,260,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. SG Americas Securities LLC increased its position in shares of Progressive by 4,545.0% in the 1st quarter. SG Americas Securities LLC now owns 705,243 shares of the insurance provider’s stock worth $145,858,000 after purchasing an additional 690,060 shares during the last quarter. Canada Pension Plan Investment Board increased its holdings in Progressive by 548.2% in the first quarter. Canada Pension Plan Investment Board now owns 811,653 shares of the insurance provider’s stock valued at $167,866,000 after buying an additional 686,433 shares during the last quarter. Capital International Investors raised its stake in Progressive by 15.7% during the first quarter. Capital International Investors now owns 4,925,019 shares of the insurance provider’s stock valued at $1,018,592,000 after buying an additional 670,006 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in Progressive by 29,701.6% during the 3rd quarter. International Assets Investment Management LLC now owns 596,331 shares of the insurance provider’s stock worth $151,325,000 after buying an additional 594,330 shares during the last quarter. Finally, Swedbank AB acquired a new position in shares of Progressive in the 1st quarter worth approximately $116,852,000. 85.34% of the stock is owned by institutional investors and hedge funds.

Progressive Price Performance

Shares of NYSE:PGR opened at $241.48 on Tuesday. The stock’s 50 day moving average price is $250.86 and its 200 day moving average price is $227.13. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.31 and a quick ratio of 0.31. The stock has a market cap of $141.43 billion, a price-to-earnings ratio of 17.55, a PEG ratio of 0.67 and a beta of 0.36. The Progressive Co. has a 12 month low of $149.14 and a 12 month high of $260.46.

Analyst Ratings Changes

Several equities research analysts recently issued reports on PGR shares. Hsbc Global Res raised Progressive from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 12th. StockNews.com cut shares of Progressive from a “buy” rating to a “hold” rating in a report on Friday. JPMorgan Chase & Co. lifted their price target on shares of Progressive from $242.00 to $251.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. 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. Finally, Morgan Stanley lifted their target price on Progressive from $300.00 to $310.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. Seven equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $263.19.

Insider Activity

In related news, Director Dyke Kahina Van sold 2,180 shares of the firm’s stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $252.28, for a total transaction of $549,970.40. Following the completion of the sale, the director now directly owns 13,723 shares in the company, valued at approximately $3,462,038.44. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Dyke Kahina Van sold 2,180 shares of the firm’s stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $252.28, for a total value of $549,970.40. Following the completion of the transaction, the director now owns 13,723 shares of the company’s stock, valued at approximately $3,462,038.44. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Steven Broz sold 2,981 shares of Progressive stock in a transaction 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 $6,618,555.95. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 74,843 shares of company stock worth $18,674,912 over the last 90 days. 0.34% of the stock is currently owned by company insiders.

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.