Fairway Wealth LLC Decreases Stock Holdings in The Progressive Co. (NYSE:PGR)

Fairway Wealth LLC reduced its holdings in shares of The Progressive Co. (NYSE:PGR) by 14.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,153 shares of the insurance provider’s stock after selling 530 shares during the quarter. Fairway Wealth LLC’s holdings in Progressive were worth $800,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Canada Pension Plan Investment Board raised its holdings in shares of Progressive by 548.2% in the 1st quarter. Canada Pension Plan Investment Board now owns 811,653 shares of the insurance provider’s stock worth $167,866,000 after purchasing an additional 686,433 shares during the period. Capital International Investors lifted its position 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 valued at $1,018,592,000 after buying an additional 670,006 shares during the last quarter. International Assets Investment Management LLC lifted its position in shares of 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 valued at $151,325,000 after buying an additional 594,330 shares during the last quarter. SG Americas Securities LLC grew its stake in shares of Progressive by 206.8% during the 3rd quarter. SG Americas Securities LLC now owns 875,660 shares of the insurance provider’s stock worth $222,207,000 after acquiring an additional 590,235 shares during the period. Finally, Swedbank AB purchased a new stake in Progressive in the 1st quarter worth about $116,852,000. Institutional investors own 85.34% of the company’s stock.

Progressive Stock Up 2.4 %

Shares of Progressive stock opened at $261.51 on Friday. The company’s fifty day simple moving average is $251.41 and its two-hundred day simple moving average is $228.12. The Progressive Co. has a 12-month low of $149.14 and a 12-month high of $263.39. The company has a current ratio of 0.30, a quick ratio of 0.31 and a debt-to-equity ratio of 0.25. The company has a market cap of $153.20 billion, a P/E ratio of 19.01, a PEG ratio of 0.72 and a beta of 0.36.

Progressive (NYSE:PGR) last posted its quarterly earnings data 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 business had revenue of $19.43 billion during the quarter, compared to the consensus estimate of $18.95 billion. Research analysts anticipate that The Progressive Co. will post 13.14 EPS for the current year.

Analysts Set New Price Targets

PGR has been the topic of several recent research reports. HSBC upgraded Progressive from a “hold” rating to a “buy” rating and set a $253.00 target price on the stock in a research report on Monday, August 12th. StockNews.com downgraded Progressive from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. Jefferies Financial Group upped their price target on Progressive from $257.00 to $295.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Bank of America raised 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, Evercore ISI increased their target price on shares of Progressive from $277.00 to $285.00 and gave the stock an “outperform” rating in a research note on Wednesday. Seven analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Progressive presently has a consensus rating of “Moderate Buy” and an average target price of $269.56.

Insider Activity

In other news, insider John Jo Murphy sold 9,512 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $237.50, for a total transaction of $2,259,100.00. Following the sale, the insider now owns 45,787 shares in the company, valued at $10,874,412.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Dyke Kahina Van sold 2,180 shares of the stock in a transaction on Friday, September 27th. The stock was sold at an average price of $252.28, for a total transaction of $549,970.40. Following the transaction, the director now directly owns 13,723 shares of the company’s stock, valued at $3,462,038.44. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider John Jo Murphy sold 9,512 shares of Progressive stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $237.50, for a total value of $2,259,100.00. Following the completion of the sale, the insider now directly owns 45,787 shares of the company’s stock, valued at $10,874,412.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 74,843 shares of company stock worth $18,674,912 over the last three months. 0.34% of the stock is currently owned by corporate 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.