Rockefeller Capital Management L.P. Has $38.66 Million Stake in The Progressive Co. (NYSE:PGR)

Rockefeller Capital Management L.P. cut its position in shares of The Progressive Co. (NYSE:PGR) by 4.1% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 152,451 shares of the insurance provider’s stock after selling 6,589 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Progressive were worth $38,661,000 at the end of the most recent quarter.

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

Progressive Price Performance

Progressive stock opened at $268.93 on Friday. The stock has a market cap of $157.54 billion, a P/E ratio of 19.54, a P/E/G ratio of 0.74 and a beta of 0.36. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.25. The company’s 50 day moving average price is $254.08 and its two-hundred day moving average price is $233.34. The Progressive Co. has a 52 week low of $149.14 and a 52 week high of $270.62.

Progressive (NYSE:PGR) last issued its quarterly earnings results on Tuesday, October 15th. The insurance provider reported $3.58 EPS 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%. On average, equities analysts predict that The Progressive Co. will post 13.2 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts recently commented on PGR shares. Jefferies Financial Group boosted their target price on Progressive from $257.00 to $295.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. boosted their price objective on Progressive from $242.00 to $251.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. TD Cowen increased their target price on Progressive from $197.00 to $237.00 and gave the stock a “hold” rating in a report on Friday, November 8th. Bank of America boosted their price target on shares of Progressive from $331.00 to $335.00 and gave the company a “buy” rating in a research note on Monday, November 18th. Finally, Piper Sandler raised their price objective on shares of Progressive from $250.00 to $252.00 and gave the company an “overweight” rating in a research note on Thursday, August 15th. Five research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $269.81.

Insider Transactions at Progressive

In other news, insider Steven Broz sold 2,981 shares of the firm’s stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $251.15, for a total transaction of $748,678.15. Following the completion of the sale, the insider now owns 26,353 shares in the company, valued at $6,618,555.95. This trade represents a 10.16 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Dyke Kahina Van sold 2,180 shares of Progressive stock in a transaction that occurred on Friday, September 27th. The stock was 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 trade represents a 13.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 59,209 shares of company stock worth $14,975,979 in the last ninety days. Company insiders own 0.34% of the company’s stock.

Progressive Company 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.