The Progressive Corporation $PGR Position Raised by Vinva Investment Management Ltd

Vinva Investment Management Ltd grew its position in shares of The Progressive Corporation (NYSE:PGR) by 91.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 26,786 shares of the insurance provider’s stock after acquiring an additional 12,800 shares during the quarter. Vinva Investment Management Ltd’s holdings in Progressive were worth $6,546,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the company. Davis Capital Management acquired a new position in Progressive during the 3rd quarter valued at about $25,000. Atlantic Union Bankshares Corp bought a new stake in shares of Progressive during the second quarter valued at approximately $33,000. Howard Hughes Medical Institute acquired a new position in shares of Progressive during the second quarter worth approximately $34,000. Ameriflex Group Inc. boosted its position in shares of Progressive by 106.6% during the third quarter. Ameriflex Group Inc. now owns 126 shares of the insurance provider’s stock worth $31,000 after buying an additional 65 shares during the period. Finally, TruNorth Capital Management LLC grew its holdings in Progressive by 450.0% in the 3rd quarter. TruNorth Capital Management LLC now owns 165 shares of the insurance provider’s stock worth $41,000 after buying an additional 135 shares in the last quarter. 85.34% of the stock is currently owned by institutional investors.

Progressive Stock Up 0.2%

Shares of Progressive stock opened at $210.92 on Monday. The Progressive Corporation has a 12-month low of $197.92 and a 12-month high of $292.99. The firm has a market capitalization of $123.58 billion, a PE ratio of 10.96, a price-to-earnings-growth ratio of 9.19 and a beta of 0.33. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.23. The stock’s fifty day moving average is $208.98 and its 200-day moving average is $223.78.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Citigroup cut their target price on Progressive from $300.60 to $261.00 and set a “buy” rating on the stock in a research note on Tuesday, February 3rd. The Goldman Sachs Group reissued a “buy” rating and issued a $225.00 price target on shares of Progressive in a research note on Monday, February 23rd. UBS Group lowered their price target on Progressive from $226.00 to $218.00 and set a “neutral” rating on the stock in a report on Monday, February 23rd. Bank of America cut their price objective on shares of Progressive from $350.00 to $348.00 and set a “buy” rating on the stock in a research note on Tuesday, December 9th. Finally, Evercore set a $230.00 price objective on shares of Progressive in a report on Thursday, February 19th. Seven analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $245.50.

Insider Buying and Selling

In other Progressive news, insider Maribel Pumarejo sold 739 shares of the company’s stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $203.25, for a total transaction of $150,201.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Steven Broz sold 1,344 shares of the firm’s stock in a transaction dated Friday, December 19th. The stock was sold at an average price of $224.80, for a total transaction of $302,131.20. Following the completion of the transaction, the insider owned 26,354 shares of the company’s stock, valued at approximately $5,924,379.20. The trade was a 4.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 9,103 shares of company stock worth $1,883,924. Company insiders own 0.33% of the company’s stock.

Progressive Profile

Progressive Corporation is a large U.S.-based property and casualty insurer that primarily underwrites personal auto insurance along with a broad suite of related products. Its offerings include coverage for private passenger automobiles, commercial auto fleets, motorcycles, boats and recreational vehicles, as well as homeowners, renters, umbrella and other specialty P&C products. Progressive also provides claims handling, risk management and related services to individual and commercial policyholders.

The company distributes its products through a mix of direct channels—online and by phone—and an extensive independent agent network.