AIA Group Ltd Acquires 4,453 Shares of The Progressive Co. (NYSE:PGR)

AIA Group Ltd boosted its holdings in shares of The Progressive Co. (NYSE:PGR) by 3.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 152,917 shares of the insurance provider’s stock after purchasing an additional 4,453 shares during the period. Progressive comprises 1.0% of AIA Group Ltd’s portfolio, making the stock its 29th biggest holding. AIA Group Ltd’s holdings in Progressive were worth $38,804,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Progressive by 0.6% in the first quarter. Vanguard Group Inc. now owns 51,751,851 shares of the insurance provider’s stock valued at $10,703,318,000 after acquiring an additional 285,070 shares during the last quarter. Capital International Investors raised its stake in shares of Progressive by 15.7% in the first quarter. Capital International Investors now owns 4,925,019 shares of the insurance provider’s stock valued at $1,018,592,000 after acquiring an additional 670,006 shares during the last quarter. Legal & General Group Plc raised its stake in shares of Progressive by 1.9% in the second quarter. Legal & General Group Plc now owns 4,922,743 shares of the insurance provider’s stock valued at $1,022,507,000 after acquiring an additional 92,212 shares during the last quarter. American Century Companies Inc. raised its stake in shares of Progressive by 3.0% in the second quarter. American Century Companies Inc. now owns 2,392,773 shares of the insurance provider’s stock valued at $497,003,000 after acquiring an additional 69,709 shares during the last quarter. Finally, TD Asset Management Inc raised its stake in shares of Progressive by 16.8% in the first quarter. TD Asset Management Inc now owns 1,698,526 shares of the insurance provider’s stock valued at $351,289,000 after acquiring an additional 244,541 shares during the last quarter. Institutional investors own 85.34% of the company’s stock.

Insider Activity

In related news, insider John Jo Murphy sold 9,512 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $237.50, for a total value of $2,259,100.00. Following the sale, the insider now directly owns 45,787 shares of the company’s stock, valued at approximately $10,874,412.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, insider John Jo Murphy sold 9,512 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $237.50, for a total value of $2,259,100.00. Following the sale, the insider now directly owns 45,787 shares of the company’s stock, valued at approximately $10,874,412.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Dyke Kahina Van sold 2,180 shares of the business’s stock in a transaction on Friday, September 27th. The shares were sold at an average price of $252.28, for a total transaction of $549,970.40. Following the completion of the sale, the director now directly owns 13,723 shares in the company, valued at $3,462,038.44. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 74,843 shares of company stock valued at $18,674,912 in the last quarter. Company insiders own 0.34% of the company’s stock.

Progressive Price Performance

Shares of PGR stock opened at $255.27 on Friday. The Progressive Co. has a 12-month low of $149.14 and a 12-month high of $260.46. The firm has a market capitalization of $149.50 billion, a price-to-earnings ratio of 18.55, a price-to-earnings-growth ratio of 0.67 and a beta of 0.36. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.30. The firm has a fifty day moving average of $251.12 and a 200-day moving average of $227.59.

Progressive (NYSE:PGR) last announced its quarterly earnings results on Tuesday, October 15th. The insurance provider reported $3.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.40 by $0.18. Progressive had a net margin of 11.27% and a return on equity of 35.21%. The company had revenue of $19.43 billion during the quarter, compared to analyst estimates of $18.95 billion. On average, equities research analysts forecast that The Progressive Co. will post 13.15 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on PGR shares. JPMorgan Chase & Co. lifted their target price on shares of Progressive from $242.00 to $251.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Roth Mkm raised their price target on shares of Progressive from $270.00 to $290.00 and gave the company a “buy” rating in a report on Monday, September 16th. Bank of America raised their price target on shares of Progressive from $319.00 to $331.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Hsbc Global Res raised shares of Progressive from a “hold” rating to a “strong-buy” rating in a report on Monday, August 12th. Finally, HSBC raised shares of Progressive from a “hold” rating to a “buy” rating and set a $253.00 price target for the company in a report on Monday, August 12th. Seven equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $265.63.

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.