Quantbot Technologies LP Has $7.62 Million Stock Holdings in The Progressive Co. (NYSE:PGR)

Quantbot Technologies LP decreased its position in The Progressive Co. (NYSE:PGR) by 19.3% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 30,011 shares of the insurance provider’s stock after selling 7,193 shares during the period. Quantbot Technologies LP’s holdings in Progressive were worth $7,616,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Diversified Trust Co boosted its holdings in Progressive by 84.3% during the third quarter. Diversified Trust Co now owns 25,738 shares of the insurance provider’s stock worth $6,531,000 after purchasing an additional 11,770 shares during the last quarter. Sycomore Asset Management boosted its stake in shares of Progressive by 9.5% during the 2nd quarter. Sycomore Asset Management now owns 28,128 shares of the insurance provider’s stock worth $5,856,000 after buying an additional 2,450 shares during the last quarter. Sumitomo Life Insurance Co. bought a new position in shares of Progressive in the 2nd quarter valued at about $981,000. Tidal Investments LLC increased its position in shares of Progressive by 22.2% in the first quarter. Tidal Investments LLC now owns 31,330 shares of the insurance provider’s stock valued at $6,480,000 after acquiring an additional 5,691 shares during the last quarter. Finally, Advisors Asset Management Inc. raised its holdings in Progressive by 88.7% during the first quarter. Advisors Asset Management Inc. now owns 7,626 shares of the insurance provider’s stock worth $1,577,000 after acquiring an additional 3,585 shares in the last quarter. Institutional investors and hedge funds own 85.34% of the company’s stock.

Analyst Upgrades and Downgrades

PGR has been the subject of a number of analyst reports. Piper Sandler raised their price target on Progressive from $250.00 to $252.00 and gave the company an “overweight” rating in a research note on Thursday, August 15th. Morgan Stanley raised their target price on shares of Progressive from $300.00 to $310.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. Keefe, Bruyette & Woods upped their price target on shares of Progressive from $280.00 to $290.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. HSBC upgraded shares of Progressive from a “hold” rating to a “buy” rating and set a $253.00 price target for the company in a research note on Monday, August 12th. Finally, The Goldman Sachs Group boosted their price objective on shares of Progressive from $262.00 to $280.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Five investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Progressive currently has a consensus rating of “Moderate Buy” and a consensus target price of $269.81.

Progressive Stock Performance

NYSE:PGR opened at $265.89 on Tuesday. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.25. The stock has a 50 day simple moving average of $253.25 and a 200 day simple moving average of $232.11. The Progressive Co. has a 1-year low of $149.14 and a 1-year high of $266.89. The stock has a market cap of $155.76 billion, a P/E ratio of 19.32, a PEG ratio of 0.74 and a beta of 0.36.

Progressive (NYSE:PGR) last posted its earnings results on Tuesday, October 15th. The insurance provider reported $3.58 earnings per share for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $18.95 billion. Research analysts anticipate that The Progressive Co. will post 13.17 earnings per share for the current year.

Insider Buying and Selling at Progressive

In other news, CEO Susan Patricia Griffith sold 43,370 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $252.20, for a total transaction of $10,937,914.00. Following the completion of the sale, the chief executive officer now directly owns 473,735 shares in the company, valued at approximately $119,475,967. This represents a 8.39 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Steven Broz sold 2,981 shares of the stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $251.15, for a total transaction of $748,678.15. Following the sale, the insider now owns 26,353 shares in the company, valued at $6,618,555.95. The trade was a 10.16 % 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. Company insiders own 0.34% of the company’s stock.

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.