Stonebrook Private Inc. Purchases Shares of 1,068 The Progressive Co. (NYSE:PGR)

Stonebrook Private Inc. acquired a new position in shares of The Progressive Co. (NYSE:PGR) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 1,068 shares of the insurance provider’s stock, valued at approximately $271,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in PGR. Jennison Associates LLC increased its stake in Progressive by 21.6% during the 3rd quarter. Jennison Associates LLC now owns 4,749,628 shares of the insurance provider’s stock valued at $1,205,266,000 after buying an additional 842,109 shares during the period. International Assets Investment Management LLC boosted its holdings in shares of Progressive by 29,701.6% in 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 in the last quarter. SG Americas Securities LLC increased its stake in shares of Progressive by 206.8% during the third quarter. SG Americas Securities LLC now owns 875,660 shares of the insurance provider’s stock valued at $222,207,000 after acquiring an additional 590,235 shares during the period. Swedbank AB acquired a new position in shares of Progressive during the first quarter valued at approximately $116,852,000. Finally, Skandinaviska Enskilda Banken AB publ raised its holdings in Progressive by 457.2% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 651,707 shares of the insurance provider’s stock worth $135,366,000 after purchasing an additional 534,754 shares in the last quarter. 85.34% of the stock is owned by institutional investors.

Insider Activity at Progressive

In other news, insider Steven Broz sold 2,982 shares of Progressive stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $260.00, for a total transaction of $775,320.00. Following the completion of the sale, the insider now directly owns 29,334 shares in the company, valued at $7,626,840. The trade was a 9.23 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Susan Patricia Griffith sold 43,370 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $252.20, for a total value of $10,937,914.00. Following the completion of the transaction, the chief executive officer now owns 473,735 shares in the company, valued at $119,475,967. This represents a 8.39 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 59,209 shares of company stock valued at $14,975,979. Corporate insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. BMO Capital Markets decreased their price target on Progressive from $239.00 to $237.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. TD Cowen raised their target price on Progressive from $197.00 to $237.00 and gave the company a “hold” rating in a research note on Friday, November 8th. Morgan Stanley boosted their price target on shares of Progressive from $300.00 to $310.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. Evercore ISI raised their price objective on shares of Progressive from $277.00 to $285.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. Finally, HSBC upgraded shares of Progressive from a “hold” rating to a “buy” rating and set a $253.00 target price on the stock in a report on Monday, August 12th. Five analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $269.81.

Progressive Stock Performance

Shares of Progressive stock opened at $266.06 on Friday. The Progressive Co. has a 12 month low of $149.14 and a 12 month high of $266.18. 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 stock has a market cap of $155.86 billion, a PE ratio of 19.34, a price-to-earnings-growth ratio of 0.73 and a beta of 0.36. The business has a fifty day simple moving average of $253.06 and a 200-day simple moving average of $231.63.

Progressive (NYSE:PGR) last announced its quarterly earnings data 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 firm had revenue of $19.43 billion during 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, sell-side analysts anticipate that The Progressive Co. will post 13.12 EPS for the current fiscal year.

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.