The Progressive Co. (NYSE:PGR) Shares Sold by Gulf International Bank UK Ltd

Gulf International Bank UK Ltd lowered its holdings in shares of The Progressive Co. (NYSE:PGR) by 4.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 45,851 shares of the insurance provider’s stock after selling 1,912 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Progressive were worth $11,635,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in PGR. FSM Wealth Advisors LLC grew its position in shares of Progressive by 4.8% in the third quarter. FSM Wealth Advisors LLC now owns 1,603 shares of the insurance provider’s stock valued at $407,000 after purchasing an additional 74 shares during the period. Moloney Securities Asset Management LLC lifted its position in shares of Progressive by 7.0% in the third quarter. Moloney Securities Asset Management LLC now owns 8,905 shares of the insurance provider’s stock valued at $2,260,000 after acquiring an additional 585 shares in the last quarter. Impax Asset Management Group plc boosted its stake in shares of Progressive by 24.9% in the third quarter. Impax Asset Management Group plc now owns 65,471 shares of the insurance provider’s stock worth $16,614,000 after acquiring an additional 13,047 shares during the last quarter. QRG Capital Management Inc. raised its stake in Progressive by 15.0% in the 3rd quarter. QRG Capital Management Inc. now owns 39,867 shares of the insurance provider’s stock valued at $10,117,000 after purchasing an additional 5,205 shares during the last quarter. Finally, Asset Management One Co. Ltd. lifted its holdings in Progressive by 1.6% in the 3rd quarter. Asset Management One Co. Ltd. now owns 249,396 shares of the insurance provider’s stock valued at $63,287,000 after purchasing an additional 3,977 shares in the last quarter. Institutional investors and hedge funds own 85.34% of the company’s stock.

Insider Buying and Selling at Progressive

In other news, insider John Jo Murphy sold 9,512 shares of Progressive stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $237.50, for a total value of $2,259,100.00. Following the completion of the sale, the insider now directly owns 45,787 shares of the company’s stock, valued at approximately $10,874,412.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Progressive news, insider John Jo Murphy sold 9,512 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $237.50, for a total transaction of $2,259,100.00. Following the sale, the insider now directly owns 45,787 shares in the company, valued at $10,874,412.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Steven Broz sold 2,981 shares of the company’s stock in a transaction on Monday, October 21st. The stock was sold at an average price of $251.15, for a total value of $748,678.15. Following the sale, the insider now directly owns 26,353 shares in the company, valued at $6,618,555.95. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 74,843 shares of company stock valued at $18,674,912 over the last quarter. 0.34% of the stock is owned by company insiders.

Progressive Price Performance

Shares of PGR opened at $241.48 on Tuesday. The firm has a 50-day simple moving average of $250.86 and a two-hundred day simple moving average of $227.13. The stock has a market cap of $141.43 billion, a PE ratio of 17.55, a P/E/G ratio of 0.67 and a beta of 0.36. The Progressive Co. has a 1-year low of $149.14 and a 1-year high of $260.46. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.31 and a quick ratio of 0.31.

Analyst Upgrades and Downgrades

PGR has been the subject of a number of research reports. JPMorgan Chase & Co. upped their target price on shares of Progressive from $242.00 to $251.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Roth Mkm increased their price objective on shares of Progressive from $270.00 to $290.00 and gave the company a “buy” rating in a report on Monday, September 16th. Morgan Stanley raised their target price 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. The Goldman Sachs Group increased their price target on Progressive from $262.00 to $280.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Finally, Evercore ISI lifted their price objective on Progressive from $243.00 to $246.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Seven analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $263.19.

About Progressive

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.