The Progressive Co. (NYSE:PGR) Shares Purchased by Baillie Gifford & Co.

Baillie Gifford & Co. boosted its stake in shares of The Progressive Co. (NYSE:PGR) by 0.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 77,756 shares of the insurance provider’s stock after buying an additional 700 shares during the period. Baillie Gifford & Co.’s holdings in Progressive were worth $19,731,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in PGR. Davis Capital Management acquired a new position in shares of Progressive during the 3rd quarter valued at about $25,000. WR Wealth Planners LLC raised its stake in Progressive by 119.6% during the second quarter. WR Wealth Planners LLC now owns 123 shares of the insurance provider’s stock worth $26,000 after purchasing an additional 67 shares during the period. Hilltop National Bank boosted its holdings in Progressive by 126.0% in the 2nd quarter. Hilltop National Bank now owns 165 shares of the insurance provider’s stock valued at $34,000 after purchasing an additional 92 shares during the last quarter. DiNuzzo Private Wealth Inc. grew its stake in shares of Progressive by 114.1% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 137 shares of the insurance provider’s stock valued at $35,000 after buying an additional 73 shares during the period. Finally, LRI Investments LLC acquired a new stake in shares of Progressive during the 1st quarter worth approximately $36,000. 85.34% of the stock is currently owned by hedge funds and other institutional investors.

Progressive Price Performance

PGR stock opened at $262.29 on Wednesday. The business’s 50-day moving average is $251.57 and its two-hundred day moving average is $228.68. 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 firm has a market capitalization of $153.65 billion, a P/E ratio of 19.06, a P/E/G ratio of 0.72 and a beta of 0.36. The Progressive Co. has a 1 year low of $149.14 and a 1 year high of $263.85.

Progressive (NYSE:PGR) last issued 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 net margin of 11.27% and a return on equity of 33.10%. The company had revenue of $19.43 billion during the quarter, compared to the consensus estimate of $18.95 billion. Analysts anticipate that The Progressive Co. will post 13.15 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Keefe, Bruyette & Woods increased their price objective on Progressive from $280.00 to $290.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Evercore ISI increased their price target on Progressive from $277.00 to $285.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. The Goldman Sachs Group boosted their price objective on shares of Progressive from $262.00 to $280.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Barclays increased their target price on shares of Progressive from $267.00 to $277.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 23rd. Finally, TD Cowen boosted their price target on shares of Progressive from $197.00 to $237.00 and gave the company a “hold” rating in a research note on Friday, November 8th. Seven equities research 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 stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $269.56.

Insider Transactions at Progressive

In related news, CEO Susan Patricia Griffith sold 43,370 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $252.20, for a total value of $10,937,914.00. Following the transaction, the chief executive officer now owns 473,735 shares of the company’s stock, valued at $119,475,967. 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 this hyperlink. In other news, CEO Susan Patricia Griffith sold 43,370 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $252.20, for a total value of $10,937,914.00. Following the transaction, the chief executive officer now owns 473,735 shares in the company, valued at approximately $119,475,967. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Dyke Kahina Van sold 2,180 shares of the business’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $252.28, for a total value of $549,970.40. Following the sale, the director now owns 13,723 shares of the company’s stock, valued at approximately $3,462,038.44. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 74,843 shares of company stock valued at $18,674,912. Insiders own 0.34% of the company’s stock.

About Progressive

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.