The Progressive Corporation $PGR Shares Sold by American Century Companies Inc.

American Century Companies Inc. trimmed its stake in shares of The Progressive Corporation (NYSE:PGR) by 35.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,538,262 shares of the insurance provider’s stock after selling 831,357 shares during the period. American Century Companies Inc. owned about 0.26% of Progressive worth $410,501,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Atlantic Union Bankshares Corp purchased a new position in shares of Progressive in the second quarter worth approximately $33,000. Ransom Advisory Ltd acquired a new position in Progressive in the 1st quarter worth approximately $35,000. Activest Wealth Management grew its position in Progressive by 6,350.0% during the 1st quarter. Activest Wealth Management now owns 129 shares of the insurance provider’s stock worth $37,000 after purchasing an additional 127 shares in the last quarter. Westside Investment Management Inc. raised its stake in Progressive by 900.0% during the 2nd quarter. Westside Investment Management Inc. now owns 130 shares of the insurance provider’s stock valued at $34,000 after purchasing an additional 117 shares during the period. Finally, Accent Capital Management LLC purchased a new stake in shares of Progressive in the first quarter valued at $39,000. Hedge funds and other institutional investors own 85.34% of the company’s stock.

Progressive Stock Performance

Shares of NYSE PGR opened at $226.99 on Friday. The Progressive Corporation has a 12 month low of $199.90 and a 12 month high of $292.99. The company has a market cap of $133.11 billion, a P/E ratio of 12.45, a P/E/G ratio of 1.19 and a beta of 0.29. The business’s 50 day moving average is $228.90 and its two-hundred day moving average is $248.44. The company has a quick ratio of 0.31, a current ratio of 0.32 and a debt-to-equity ratio of 0.19.

Progressive (NYSE:PGR) last released its 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). The firm had revenue of $21.38 billion for the quarter, compared to analyst estimates of $21.64 billion. Progressive had a return on equity of 33.88% and a net margin of 12.57%.During the same period last year, the business earned $3.58 earnings per share. On average, equities analysts expect that The Progressive Corporation will post 14.68 EPS for the current year.

Insider Activity

In other Progressive news, insider John Jo Murphy sold 2,218 shares of the business’s stock in a transaction dated Friday, September 19th. The stock was sold at an average price of $242.10, for a total transaction of $536,977.80. Following the completion of the sale, the insider directly owned 43,506 shares of the company’s stock, valued at approximately $10,532,802.60. The trade was a 4.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Susan Patricia Griffith sold 30,659 shares of Progressive stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $246.06, for a total transaction of $7,543,953.54. Following the sale, the chief executive officer directly owned 476,286 shares of the company’s stock, valued at $117,194,933.16. This represents a 6.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 41,987 shares of company stock worth $10,257,508. 0.34% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

PGR has been the topic of a number of research reports. Citigroup dropped their target price on Progressive from $312.00 to $301.38 and set a “buy” rating on the stock in a report on Thursday, October 16th. Morgan Stanley set a $214.00 price objective on shares of Progressive and gave the company an “underweight” rating in a research note on Monday, October 20th. Wells Fargo & Company lifted their target price on shares of Progressive from $246.00 to $247.00 and gave the company an “equal weight” rating in a research note on Thursday. Wolfe Research began coverage on shares of Progressive in a research note on Monday, September 15th. They issued a “peer perform” rating on the stock. Finally, UBS Group cut their price objective on Progressive from $268.00 to $261.00 and set a “neutral” rating for the company in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $266.52.

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.