The Progressive Corporation $PGR Stock Holdings Lowered by Woodley Farra Manion Portfolio Management Inc.

Woodley Farra Manion Portfolio Management Inc. lessened its stake in The Progressive Corporation (NYSE:PGR) by 13.1% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 317,965 shares of the insurance provider’s stock after selling 47,726 shares during the quarter. Progressive comprises about 4.0% of Woodley Farra Manion Portfolio Management Inc.’s holdings, making the stock its 7th largest holding. Woodley Farra Manion Portfolio Management Inc. owned approximately 0.05% of Progressive worth $84,852,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. New York Life Investment Management LLC grew its holdings in Progressive by 1.4% during the 2nd quarter. New York Life Investment Management LLC now owns 87,760 shares of the insurance provider’s stock valued at $23,420,000 after purchasing an additional 1,192 shares in the last quarter. Baron Silver Stevens Financial Advisors LLC purchased a new position in Progressive in the 2nd quarter valued at about $306,000. Wakefield Asset Management LLLP grew its stake in shares of Progressive by 199.0% during the second quarter. Wakefield Asset Management LLLP now owns 9,411 shares of the insurance provider’s stock valued at $2,511,000 after acquiring an additional 6,263 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Progressive during the second quarter valued at about $13,583,000. Finally, Whalen Wealth Management Inc. purchased a new stake in shares of Progressive during the second quarter worth about $647,000. Institutional investors and hedge funds own 85.34% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on PGR. Wells Fargo & Company reduced their price target on Progressive from $266.00 to $246.00 and set an “equal weight” rating for the company in a report on Thursday, October 16th. Zacks Research lowered Progressive from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 10th. Barclays decreased their price target on shares of Progressive from $271.00 to $257.00 and set an “equal weight” rating for the company in a research report on Monday, October 20th. Morgan Stanley set a $214.00 price target on shares of Progressive and gave the stock an “underweight” rating in a research note on Monday, October 20th. Finally, Evercore ISI reduced their price objective on shares of Progressive from $275.00 to $273.00 and set an “in-line” rating on the stock in a research note on Wednesday, October 1st. Seven research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Progressive presently has a consensus rating of “Hold” and an average price target of $266.46.

Insider Buying and Selling

In other Progressive news, insider John Jo Murphy sold 2,218 shares of the stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $250.78, for a total value of $556,230.04. Following the sale, the insider directly owned 45,724 shares of the company’s stock, valued at $11,466,664.72. This trade represents a 4.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, 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 transaction, the insider directly owned 29,043 shares of the company’s stock, valued at approximately $6,389,460. This trade represents a 4.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 51,782 shares of company stock valued at $12,708,788 over the last three months. 0.34% of the stock is owned by company insiders.

Progressive Stock Up 0.9%

Shares of NYSE:PGR opened at $225.23 on Friday. The company’s fifty day moving average is $231.02 and its two-hundred day moving average is $250.59. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.31 and a current ratio of 0.32. The Progressive Corporation has a 1-year low of $199.90 and a 1-year high of $292.99. The stock has a market capitalization of $132.08 billion, a price-to-earnings ratio of 12.36, a price-to-earnings-growth ratio of 1.19 and a beta of 0.29.

Progressive (NYSE:PGR) last issued its earnings results on Wednesday, October 15th. The insurance provider reported $4.45 earnings per share (EPS) 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 during the quarter, compared to the consensus estimate of $21.64 billion. During the same period in the prior year, the business earned $3.58 EPS. Equities analysts anticipate that The Progressive Corporation will post 14.68 EPS for the current year.

Progressive Company 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.