Sompo Asset Management Co. Ltd. Sells 390 Shares of The Progressive Co. (NYSE:PGR)

Sompo Asset Management Co. Ltd. lowered its position in shares of The Progressive Co. (NYSE:PGR) by 18.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,780 shares of the insurance provider’s stock after selling 390 shares during the quarter. Sompo Asset Management Co. Ltd.’s holdings in Progressive were worth $452,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Davis Capital Management bought a new position in shares of Progressive during the 3rd quarter worth about $25,000. WR Wealth Planners LLC boosted its holdings in Progressive by 119.6% in the second quarter. WR Wealth Planners LLC now owns 123 shares of the insurance provider’s stock worth $26,000 after acquiring an additional 67 shares in the last quarter. DiNuzzo Private Wealth Inc. grew its stake in Progressive by 114.1% in the third quarter. DiNuzzo Private Wealth Inc. now owns 137 shares of the insurance provider’s stock valued at $35,000 after acquiring an additional 73 shares during the period. Hilltop National Bank increased its holdings in shares of Progressive by 126.0% during the second quarter. Hilltop National Bank now owns 165 shares of the insurance provider’s stock valued at $34,000 after acquiring an additional 92 shares in the last quarter. Finally, LRI Investments LLC acquired a new position in shares of Progressive during the first quarter worth approximately $36,000. Institutional investors own 85.34% of the company’s stock.

Insider Buying and Selling at Progressive

In other Progressive news, insider Patrick K. Callahan sold 7,696 shares of the business’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $255.21, for a total value of $1,964,096.16. Following the sale, the insider now directly owns 15,189 shares of the company’s stock, valued at approximately $3,876,384.69. The trade was a 33.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 transaction, the insider now directly owns 29,334 shares in the company, valued at approximately $7,626,840. The trade was a 9.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 59,209 shares of company stock valued at $14,975,979 in the last quarter. 0.34% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on PGR. The Goldman Sachs Group boosted their price target on shares of Progressive from $262.00 to $280.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. JPMorgan Chase & Co. boosted their target price on shares of Progressive from $242.00 to $251.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Keefe, Bruyette & Woods raised their price target on shares of Progressive from $280.00 to $290.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Piper Sandler raised their target price on Progressive from $250.00 to $252.00 and gave the company an “overweight” rating in a report on Thursday, August 15th. Finally, TD Cowen upped their price target on Progressive from $197.00 to $237.00 and gave the stock a “hold” rating in a 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 assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $269.81.

Progressive Trading Up 1.0 %

Shares of Progressive stock opened at $266.06 on Monday. The Progressive Co. has a 1 year low of $149.14 and a 1 year high of $266.18. The firm has a market cap of $155.86 billion, a PE ratio of 19.34, a P/E/G ratio of 0.74 and a beta of 0.36. The stock has a fifty day moving average price of $253.06 and a 200-day moving average price of $231.74. 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 announced its quarterly earnings data on Tuesday, October 15th. The insurance provider reported $3.58 earnings per share for the quarter, topping the consensus estimate of $3.40 by $0.18. Progressive had a return on equity of 33.10% and a net margin of 11.27%. The company had revenue of $19.43 billion during the quarter, compared to analyst estimates of $18.95 billion. Equities research analysts anticipate that The Progressive Co. will post 13.17 EPS for the current year.

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.