Tokio Marine Asset Management Co. Ltd. Acquires 435 Shares of The Progressive Co. (NYSE:PGR)

Tokio Marine Asset Management Co. Ltd. raised its holdings in shares of The Progressive Co. (NYSE:PGR) by 2.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,917 shares of the insurance provider’s stock after buying an additional 435 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Progressive were worth $4,293,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of PGR. Davis Capital Management bought a new position in shares of Progressive during the 3rd quarter worth about $25,000. WR Wealth Planners LLC increased its stake in Progressive by 119.6% during the second quarter. WR Wealth Planners LLC now owns 123 shares of the insurance provider’s stock valued at $26,000 after acquiring an additional 67 shares during the period. Hilltop National Bank lifted its position in shares of Progressive by 126.0% in the 2nd quarter. Hilltop National Bank now owns 165 shares of the insurance provider’s stock worth $34,000 after acquiring an additional 92 shares during the period. DiNuzzo Private Wealth Inc. grew its holdings in shares of Progressive by 114.1% during the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 137 shares of the insurance provider’s stock worth $35,000 after purchasing an additional 73 shares in the last quarter. Finally, LRI Investments LLC bought a new stake in shares of Progressive during the first quarter valued at approximately $36,000. Institutional investors and hedge funds own 85.34% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Morgan Stanley lifted their price target on shares of Progressive from $300.00 to $310.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Wells Fargo & Company lifted their target price on shares of Progressive from $281.00 to $282.00 and gave the company an “overweight” rating in a research note on Tuesday, September 10th. StockNews.com cut Progressive from a “buy” rating to a “hold” rating in a report on Monday. Keefe, Bruyette & Woods raised their price objective 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. Finally, The Goldman Sachs Group upped their target price on shares of Progressive from $262.00 to $280.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Seven analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $269.56.

Insider Transactions at Progressive

In related news, Director Dyke Kahina Van sold 2,180 shares of the business’s stock in a transaction on Friday, September 27th. The shares were sold at an average price of $252.28, for a total value of $549,970.40. Following the sale, the director now directly owns 13,723 shares of the company’s stock, valued at approximately $3,462,038.44. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director Dyke Kahina Van sold 2,180 shares of the firm’s stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $252.28, for a total transaction of $549,970.40. Following the completion of the transaction, the director now directly owns 13,723 shares of the company’s stock, valued at $3,462,038.44. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Patrick K. Callahan sold 7,696 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of $255.21, for a total transaction of $1,964,096.16. Following the transaction, the insider now owns 15,189 shares of the company’s stock, valued at $3,876,384.69. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 65,331 shares of company stock valued at $16,415,812 over the last quarter. Corporate insiders own 0.34% of the company’s stock.

Progressive Trading Down 0.9 %

Shares of PGR traded down $2.30 during trading hours on Thursday, reaching $259.07. The stock had a trading volume of 92,768 shares, compared to its average volume of 2,452,271. The firm has a 50-day moving average of $251.92 and a 200 day moving average of $229.29. 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 company has a market cap of $151.77 billion, a P/E ratio of 18.99, a P/E/G ratio of 0.73 and a beta of 0.36. The Progressive Co. has a 52 week low of $149.14 and a 52 week high of $263.85.

Progressive (NYSE:PGR) last announced its quarterly earnings results on Tuesday, October 15th. The insurance provider reported $3.58 earnings per share (EPS) for the quarter, topping the consensus estimate 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. On average, sell-side analysts expect that The Progressive Co. will post 13.15 earnings per share 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.