The Progressive Co. (NYSE:PGR) Stock Position Cut by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank lessened its stake in The Progressive Co. (NYSE:PGR) by 0.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 320,995 shares of the insurance provider’s stock after selling 1,401 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Progressive were worth $76,914,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Versant Capital Management Inc boosted its position in shares of Progressive by 98.2% during the 4th quarter. Versant Capital Management Inc now owns 789 shares of the insurance provider’s stock valued at $189,000 after purchasing an additional 391 shares in the last quarter. Townsquare Capital LLC boosted its position in shares of Progressive by 90.9% during the 3rd quarter. Townsquare Capital LLC now owns 7,813 shares of the insurance provider’s stock valued at $1,983,000 after purchasing an additional 3,720 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Progressive by 7.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,067,924 shares of the insurance provider’s stock valued at $1,286,036,000 after purchasing an additional 330,667 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Progressive by 2,262.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 433,999 shares of the insurance provider’s stock valued at $103,990,000 after purchasing an additional 415,628 shares in the last quarter. Finally, Signal Advisors Wealth LLC boosted its position in shares of Progressive by 42.3% during the 4th quarter. Signal Advisors Wealth LLC now owns 11,889 shares of the insurance provider’s stock valued at $2,849,000 after purchasing an additional 3,534 shares in the last quarter. Institutional investors own 85.34% of the company’s stock.

Insider Activity at Progressive

In other Progressive news, CAO Mariann Wojtkun Marshall sold 191 shares of the stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $242.10, for a total transaction of $46,241.10. Following the transaction, the chief accounting officer now owns 3,982 shares in the company, valued at $964,042.20. This trade represents a 4.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Susan Patricia Griffith sold 9,066 shares of the stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $242.10, for a total value of $2,194,878.60. Following the transaction, the chief executive officer now owns 473,736 shares in the company, valued at approximately $114,691,485.60. This trade represents a 1.88 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 56,361 shares of company stock valued at $14,102,075. 0.34% of the stock is currently owned by corporate insiders.

Progressive Price Performance

Shares of PGR opened at $279.77 on Monday. The firm has a market cap of $164.00 billion, a PE ratio of 19.43, a PEG ratio of 1.70 and a beta of 0.35. The firm’s 50 day moving average price is $254.23 and its 200 day moving average price is $252.81. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.30 and a current ratio of 0.31. The Progressive Co. has a twelve month low of $194.49 and a twelve month high of $287.49.

Progressive (NYSE:PGR) last issued its quarterly earnings data on Wednesday, January 29th. The insurance provider reported $4.08 earnings per share for the quarter, beating the consensus estimate of $3.44 by $0.64. Progressive had a net margin of 11.25% and a return on equity of 33.79%. As a group, research analysts expect that The Progressive Co. will post 14.68 EPS for the current fiscal year.

Analysts Set New Price Targets

PGR has been the subject of several research reports. Roth Mkm raised their price objective on shares of Progressive from $290.00 to $315.00 and gave the company a “buy” rating in a research report on Tuesday, February 25th. Barclays raised their target price on shares of Progressive from $261.00 to $264.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 18th. Raymond James upgraded shares of Progressive from a “market perform” rating to an “outperform” rating and set a $305.00 target price for the company in a report on Thursday, December 26th. Hsbc Global Res cut shares of Progressive from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. Finally, Wells Fargo & Company raised their target price on shares of Progressive from $313.00 to $317.00 and gave the stock an “overweight” rating in a report on Thursday, February 20th. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $277.59.

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.