SYM FINANCIAL Corp Purchases 415 Shares of The Progressive Co. (NYSE:PGR)

SYM FINANCIAL Corp increased its position in The Progressive Co. (NYSE:PGR) by 36.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,558 shares of the insurance provider’s stock after purchasing an additional 415 shares during the quarter. SYM FINANCIAL Corp’s holdings in Progressive were worth $395,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PGR. Jennison Associates LLC lifted its holdings in shares of Progressive by 21.6% during the third quarter. Jennison Associates LLC now owns 4,749,628 shares of the insurance provider’s stock valued at $1,205,266,000 after acquiring an additional 842,109 shares during the period. Caisse DE Depot ET Placement DU Quebec lifted its holdings in shares of Progressive by 75.3% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,494,084 shares of the insurance provider’s stock valued at $379,139,000 after acquiring an additional 641,943 shares during the period. International Assets Investment Management LLC lifted its holdings in shares of Progressive by 29,701.6% during the third quarter. International Assets Investment Management LLC now owns 596,331 shares of the insurance provider’s stock valued at $151,325,000 after acquiring an additional 594,330 shares during the period. SG Americas Securities LLC increased its stake in shares of Progressive by 206.8% in the third quarter. SG Americas Securities LLC now owns 875,660 shares of the insurance provider’s stock valued at $222,207,000 after buying an additional 590,235 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ increased its stake in shares of Progressive by 457.2% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 651,707 shares of the insurance provider’s stock valued at $135,366,000 after buying an additional 534,754 shares in the last quarter. 85.34% of the stock is owned by institutional investors.

Analysts Set New Price Targets

PGR has been the subject of a number of research reports. Roth Mkm raised their target price on Progressive from $270.00 to $290.00 and gave the company a “buy” rating in a research note on Monday, September 16th. Wells Fargo & Company raised their target price on Progressive from $281.00 to $282.00 and gave the company an “overweight” rating in a research note on Tuesday, September 10th. StockNews.com upgraded Progressive from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. Morgan Stanley lifted their price objective on Progressive from $300.00 to $310.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. Finally, Evercore ISI boosted their target price on Progressive from $277.00 to $285.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. Five equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $269.81.

Progressive Stock Down 0.9 %

PGR stock opened at $260.35 on Thursday. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $152.52 billion, a PE ratio of 18.92, a PEG ratio of 0.73 and a beta of 0.38. The Progressive Co. has a 1-year low of $149.14 and a 1-year high of $270.62. The business’s 50 day simple moving average is $254.40 and its 200 day simple moving average is $234.61.

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. Progressive had a return on equity of 33.10% and a net margin of 11.27%. The business had revenue of $19.43 billion for the quarter, compared to analyst estimates of $18.95 billion. As a group, research analysts anticipate that The Progressive Co. will post 13.2 EPS for the current year.

Insider Buying and Selling at Progressive

In other Progressive news, CFO John P. Sauerland sold 10,000 shares of the company’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $268.09, for a total value of $2,680,900.00. Following the transaction, the chief financial officer now directly owns 292,958 shares of the company’s stock, valued at $78,539,110.22. This represents a 3.30 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Steven Broz sold 2,982 shares of the company’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $260.00, for a total value of $775,320.00. Following the completion of the transaction, the insider now directly owns 29,334 shares in the company, valued at approximately $7,626,840. This represents a 9.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 25,839 shares of company stock valued at $6,718,965 in the last ninety days. 0.34% of the stock is currently owned by corporate insiders.

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.