Progressive Corp (PGR) Holdings Raised by UBS Asset Management Americas Inc.

UBS Asset Management Americas Inc. raised its position in Progressive Corp (NYSE:PGR) by 15.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,243,102 shares of the insurance provider’s stock after purchasing an additional 292,245 shares during the quarter. UBS Asset Management Americas Inc. owned about 0.39% of Progressive worth $126,332,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. BlackRock Inc. boosted its holdings in Progressive by 4.7% in the 4th quarter. BlackRock Inc. now owns 38,769,936 shares of the insurance provider’s stock valued at $2,183,522,000 after purchasing an additional 1,742,936 shares during the last quarter. Rhumbline Advisers boosted its holdings in Progressive by 0.8% in the 4th quarter. Rhumbline Advisers now owns 1,157,419 shares of the insurance provider’s stock valued at $65,186,000 after purchasing an additional 9,187 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its holdings in Progressive by 330.2% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 206,877 shares of the insurance provider’s stock valued at $11,651,000 after purchasing an additional 158,783 shares during the last quarter. Shell Asset Management Co. boosted its holdings in Progressive by 34.0% in the 4th quarter. Shell Asset Management Co. now owns 174,806 shares of the insurance provider’s stock valued at $9,845,000 after purchasing an additional 44,395 shares during the last quarter. Finally, Arizona State Retirement System boosted its holdings in Progressive by 7.4% in the 4th quarter. Arizona State Retirement System now owns 268,340 shares of the insurance provider’s stock valued at $15,113,000 after purchasing an additional 18,595 shares during the last quarter. Institutional investors own 81.11% of the company’s stock.

In related news, insider William M. Cody sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, December 22nd. The shares were sold at an average price of $56.10, for a total transaction of $1,402,500.00. Following the sale, the insider now directly owns 137,722 shares of the company’s stock, valued at approximately $7,726,204.20. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.56% of the stock is owned by corporate insiders.

Shares of Progressive Corp (PGR) traded up $1.39 on Wednesday, reaching $61.40. 3,350,000 shares of the company traded hands, compared to its average volume of 3,840,000. Progressive Corp has a 1 year low of $38.61 and a 1 year high of $61.63. The stock has a market cap of $35,710.00, a P/E ratio of 24.08, a P/E/G ratio of 2.33 and a beta of 0.70. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.43 and a current ratio of 0.43.

Progressive (NYSE:PGR) last announced its earnings results on Wednesday, January 24th. The insurance provider reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.02. Progressive had a net margin of 5.93% and a return on equity of 15.96%. The firm had revenue of $6.75 billion for the quarter, compared to the consensus estimate of $6.62 billion. During the same period in the prior year, the firm earned $0.66 EPS. The firm’s revenue for the quarter was up 21.6% on a year-over-year basis. research analysts predict that Progressive Corp will post 3.52 earnings per share for the current year.

Several brokerages have recently commented on PGR. B. Riley restated a “hold” rating and issued a $46.00 price objective on shares of Progressive in a report on Wednesday, November 15th. Keefe, Bruyette & Woods restated a “buy” rating and issued a $58.00 price objective on shares of Progressive in a report on Friday, November 17th. MKM Partners upped their price objective on shares of Progressive to $65.00 and gave the stock a “buy” rating in a report on Friday, December 15th. Credit Suisse Group restated a “hold” rating and issued a $48.00 price objective on shares of Progressive in a report on Friday, December 15th. Finally, Goldman Sachs Group began coverage on shares of Progressive in a report on Monday, December 4th. They issued a “buy” rating and a $57.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and two have assigned a strong buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $50.65.

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Progressive Company Profile

The Progressive Corporation is an insurance holding company. The Company’s insurance subsidiaries and affiliates provide personal and commercial automobile and property insurance, other specialty property-casualty insurance and related services. The Company operates through the Personal Lines, Commercial Lines and Property segments.

Institutional Ownership by Quarter for Progressive (NYSE:PGR)

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