Banque Cantonale Vaudoise Purchases 11,913 Shares of The Progressive Co. (NYSE:PGR)

Banque Cantonale Vaudoise raised its position in The Progressive Co. (NYSE:PGR) by 56.8% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 32,883 shares of the insurance provider’s stock after buying an additional 11,913 shares during the period. Banque Cantonale Vaudoise’s holdings in Progressive were worth $8,344,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of PGR. Capital International Investors lifted its holdings in Progressive by 15.7% during the first quarter. Capital International Investors now owns 4,925,019 shares of the insurance provider’s stock worth $1,018,592,000 after acquiring an additional 670,006 shares during the period. Legal & General Group Plc raised its stake in shares of Progressive by 1.9% during the 2nd quarter. Legal & General Group Plc now owns 4,922,743 shares of the insurance provider’s stock worth $1,022,507,000 after purchasing an additional 92,212 shares during the period. American Century Companies Inc. boosted its holdings in shares of Progressive by 3.0% in the 2nd quarter. American Century Companies Inc. now owns 2,392,773 shares of the insurance provider’s stock worth $497,003,000 after buying an additional 69,709 shares during the last quarter. Swiss National Bank grew its position in Progressive by 0.3% during the third quarter. Swiss National Bank now owns 1,738,400 shares of the insurance provider’s stock valued at $441,136,000 after buying an additional 4,400 shares during the period. Finally, 1832 Asset Management L.P. raised its position in Progressive by 13.5% in the first quarter. 1832 Asset Management L.P. now owns 1,685,868 shares of the insurance provider’s stock worth $348,671,000 after acquiring an additional 200,118 shares during the period. Institutional investors own 85.34% of the company’s stock.

Insider Transactions at Progressive

In other Progressive news, insider Steven Broz sold 2,981 shares of Progressive 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 transaction, the insider now directly owns 26,353 shares of the company’s stock, valued at approximately $6,618,555.95. This trade represents a 10.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Susan Patricia Griffith sold 43,370 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $252.20, for a total transaction of $10,937,914.00. Following the sale, the chief executive officer now owns 473,735 shares of the company’s stock, valued at approximately $119,475,967. The trade was a 8.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 59,209 shares of company stock valued at $14,975,979 in the last quarter. Insiders own 0.34% of the company’s stock.

Progressive Trading Up 0.3 %

Shares of PGR stock opened at $256.56 on Tuesday. The company has a market capitalization of $150.30 billion, a PE ratio of 18.65, a price-to-earnings-growth ratio of 0.71 and a beta of 0.36. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.30 and a current ratio of 0.30. The business’s fifty day moving average is $252.32 and its 200 day moving average is $230.44. The Progressive Co. has a 52-week low of $149.14 and a 52-week high of $263.85.

Progressive (NYSE:PGR) last posted 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 net margin of 11.27% and a return on equity of 33.10%. The company had revenue of $19.43 billion for the quarter, compared to analysts’ expectations of $18.95 billion. On average, equities research analysts anticipate that The Progressive Co. will post 13.09 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on PGR shares. Barclays increased their target price on shares of Progressive from $267.00 to $277.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 23rd. The Goldman Sachs Group boosted their target price on Progressive from $262.00 to $280.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Jefferies Financial Group increased their price target on Progressive from $257.00 to $295.00 and gave the stock a “buy” rating in a research note 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 research note on Thursday, October 10th. Finally, BMO Capital Markets cut their target price on shares of Progressive from $239.00 to $237.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. Five equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $269.81.

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.