D.A. Davidson & CO. Has $4.46 Million Holdings in The Progressive Co. (NYSE:PGR)

D.A. Davidson & CO. lifted its holdings in The Progressive Co. (NYSE:PGR) by 2.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,592 shares of the insurance provider’s stock after acquiring an additional 383 shares during the quarter. D.A. Davidson & CO.’s holdings in Progressive were worth $4,464,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Diversified Trust Co raised its position in Progressive by 84.3% in the 3rd 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 raised its position in Progressive by 9.5% in the 2nd quarter. Sycomore Asset Management now owns 28,128 shares of the insurance provider’s stock worth $5,856,000 after purchasing an additional 2,450 shares during the last quarter. Sumitomo Life Insurance Co. bought a new position in Progressive in the 2nd quarter worth approximately $981,000. Cumberland Partners Ltd raised its position in Progressive by 116.7% in the 3rd quarter. Cumberland Partners Ltd now owns 6,500 shares of the insurance provider’s stock worth $1,649,000 after purchasing an additional 3,500 shares during the last quarter. Finally, Jennison Associates LLC raised its position in Progressive by 21.6% in the 3rd quarter. Jennison Associates LLC now owns 4,749,628 shares of the insurance provider’s stock worth $1,205,266,000 after purchasing an additional 842,109 shares during the last quarter. 85.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PGR has been the subject of several research analyst reports. Hsbc Global Res upgraded shares of Progressive from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 12th. Jefferies Financial Group upped their target price on shares of Progressive from $257.00 to $295.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. TD Cowen upped their target price on shares of Progressive from $197.00 to $237.00 and gave the company a “hold” rating in a research report on Friday, November 8th. Wells Fargo & Company upped their target price on shares of Progressive from $281.00 to $282.00 and gave the company an “overweight” rating in a research report on Tuesday, September 10th. Finally, Keefe, Bruyette & Woods upped their target price on shares of Progressive from $280.00 to $290.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Five investment 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. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $269.81.

Progressive Trading Down 0.4 %

Progressive stock opened at $266.86 on Friday. The firm has a 50-day moving average of $253.89 and a 200-day moving average of $232.95. The Progressive Co. has a one year low of $149.14 and a one year high of $270.62. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.30 and a quick ratio of 0.30. The company has a market cap of $156.33 billion, a price-to-earnings ratio of 19.39, a P/E/G ratio of 0.74 and a beta of 0.36.

Progressive (NYSE:PGR) last posted 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. Progressive had a net margin of 11.27% and a return on equity of 33.10%. The company had revenue of $19.43 billion during the quarter, compared to the consensus estimate of $18.95 billion. On average, equities analysts expect that The Progressive Co. will post 13.2 earnings per share for the current fiscal year.

Insider Activity at Progressive

In other Progressive news, insider Patrick K. Callahan sold 7,696 shares of the stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $255.21, for a total value of $1,964,096.16. Following the transaction, the insider now directly owns 15,189 shares of the company’s stock, valued at $3,876,384.69. This represents a 33.63 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Susan Patricia Griffith sold 43,370 shares of the 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 completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 59,209 shares of company stock worth $14,975,979. 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.