B. Metzler seel. Sohn & Co. Holding AG Takes Position in The Progressive Co. (NYSE:PGR)

B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of The Progressive Co. (NYSE:PGR) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 35,211 shares of the insurance provider’s stock, valued at approximately $8,935,000.

A number of other institutional investors have also recently bought and sold shares of the company. Seven Eight Capital LP acquired a new position in Progressive during the first quarter valued at approximately $568,000. Bessemer Group Inc. increased its holdings in shares of Progressive by 19.8% during the first quarter. Bessemer Group Inc. now owns 14,940 shares of the insurance provider’s stock worth $3,090,000 after buying an additional 2,467 shares in the last quarter. Crewe Advisors LLC acquired a new stake in Progressive during the 1st quarter valued at $76,000. CreativeOne Wealth LLC bought a new position in shares of Progressive in the first quarter valued at about $220,000. Finally, Wellington Wealth Strategies LLC. bought a new position in shares of Progressive in the first quarter worth about $297,000. Institutional investors and hedge funds own 85.34% of the company’s stock.

Insiders Place Their Bets

In other Progressive news, Director Dyke Kahina Van sold 2,180 shares of Progressive stock in a transaction dated 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 sale, the director now owns 13,723 shares in the company, valued at $3,462,038.44. The trade was a 13.71 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Susan Patricia Griffith sold 43,370 shares of the firm’s 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 in the company, valued at approximately $119,475,967. This trade represents a 8.39 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 59,209 shares of company stock worth $14,975,979 over the last three months. Insiders own 0.34% of the company’s stock.

Progressive Stock Performance

Shares of PGR stock opened at $254.51 on Wednesday. The stock has a market cap of $149.09 billion, a P/E ratio of 18.50, a P/E/G ratio of 0.71 and a beta of 0.36. The company has a fifty day moving average price of $252.43 and a two-hundred day moving average price of $230.76. The Progressive Co. has a one year low of $149.14 and a one year high of $263.85. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.30 and a quick ratio of 0.30.

Progressive (NYSE:PGR) last posted its earnings results on Tuesday, October 15th. The insurance provider reported $3.58 earnings per share for the quarter, topping analysts’ consensus estimates of $3.40 by $0.18. The business had revenue of $19.43 billion for the quarter, compared to analyst estimates of $18.95 billion. Progressive had a return on equity of 33.10% and a net margin of 11.27%. As a group, equities analysts predict that The Progressive Co. will post 13.09 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on PGR. Roth Mkm boosted their target price on Progressive from $270.00 to $290.00 and gave the stock a “buy” rating in a research report on Monday, September 16th. Evercore ISI lifted their target price on Progressive from $277.00 to $285.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. JPMorgan Chase & Co. upped 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. Hsbc Global Res upgraded shares of Progressive from a “hold” rating to a “strong-buy” rating in a report on Monday, August 12th. Finally, TD Cowen boosted their price objective on shares of Progressive from $197.00 to $237.00 and gave the company a “hold” rating in a research report on Friday, November 8th. Five research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $269.81.

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.