ABN Amro Investment Solutions Acquires Shares of 7,354 The Progressive Corporation $PGR

ABN Amro Investment Solutions bought a new position in The Progressive Corporation (NYSE:PGR) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 7,354 shares of the insurance provider’s stock, valued at approximately $1,962,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Impax Asset Management Group plc boosted its holdings in shares of Progressive by 77.7% in the second quarter. Impax Asset Management Group plc now owns 237,624 shares of the insurance provider’s stock valued at $63,412,000 after purchasing an additional 103,871 shares during the period. Kaizen Financial Strategies raised its position in Progressive by 53.8% during the 2nd quarter. Kaizen Financial Strategies now owns 2,544 shares of the insurance provider’s stock valued at $679,000 after purchasing an additional 890 shares in the last quarter. Calamos Advisors LLC purchased a new stake in shares of Progressive in the 2nd quarter worth $9,369,000. Police & Firemen s Retirement System of New Jersey lifted its holdings in shares of Progressive by 4.5% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 88,924 shares of the insurance provider’s stock worth $23,730,000 after buying an additional 3,816 shares during the period. Finally, Symphony Financial Services Inc. grew its position in shares of Progressive by 6.1% during the 2nd quarter. Symphony Financial Services Inc. now owns 2,871 shares of the insurance provider’s stock worth $766,000 after buying an additional 165 shares in the last quarter. Institutional investors own 85.34% of the company’s stock.

Progressive Trading Up 0.9%

Shares of NYSE:PGR opened at $225.23 on Friday. The business’s 50-day moving average is $231.02 and its 200 day moving average is $250.59. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.32 and a quick ratio of 0.31. The Progressive Corporation has a 1 year low of $199.90 and a 1 year high of $292.99. The firm has a market capitalization of $132.08 billion, a P/E ratio of 12.36, a P/E/G ratio of 1.19 and a beta of 0.29.

Progressive (NYSE:PGR) last issued its quarterly earnings results on Wednesday, October 15th. The insurance provider reported $4.45 earnings per share for the quarter, missing analysts’ consensus estimates of $5.04 by ($0.59). Progressive had a return on equity of 33.88% and a net margin of 12.57%.The business had revenue of $21.38 billion for the quarter, compared to analysts’ expectations of $21.64 billion. During the same quarter in the previous year, the firm posted $3.58 EPS. On average, research analysts predict that The Progressive Corporation will post 14.68 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on PGR. Barclays decreased their price objective on Progressive from $271.00 to $257.00 and set an “equal weight” rating for the company in a report on Monday, October 20th. Cantor Fitzgerald raised shares of Progressive to a “hold” rating in a research report on Wednesday, August 13th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Progressive in a research report on Friday, October 31st. BMO Capital Markets reiterated a “market perform” rating on shares of Progressive in a research note on Monday, November 3rd. Finally, Wall Street Zen downgraded shares of Progressive from a “buy” rating to a “hold” rating in a research note on Sunday, September 21st. Seven research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Progressive presently has a consensus rating of “Hold” and an average target price of $266.46.

Insider Activity at Progressive

In other news, insider Steven Broz sold 1,345 shares of the business’s stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of $220.00, for a total transaction of $295,900.00. Following the sale, the insider directly owned 29,043 shares of the company’s stock, valued at $6,389,460. The trade was a 4.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Susan Patricia Griffith sold 30,659 shares of the firm’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $246.06, for a total value of $7,543,953.54. Following the completion of the transaction, the chief executive officer owned 476,286 shares of the company’s stock, valued at $117,194,933.16. This trade represents a 6.05% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 51,782 shares of company stock worth $12,708,788 in the last quarter. 0.33% of the stock is currently owned by company insiders.

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.