4,219 The Progressive Corporation $PGR Shares Sold by Woodley Farra Manion Portfolio Management Inc.

Woodley Farra Manion Portfolio Management Inc. trimmed its stake in The Progressive Corporation (NYSE:PGR) by 1.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 304,729 shares of the insurance provider’s stock after selling 4,219 shares during the period. Progressive accounts for 3.2% of Woodley Farra Manion Portfolio Management Inc.’s portfolio, making the stock its 9th largest position. Woodley Farra Manion Portfolio Management Inc.’s holdings in Progressive were worth $63,173,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Csenge Advisory Group lifted its position in Progressive by 56.0% during the 3rd quarter. Csenge Advisory Group now owns 1,704 shares of the insurance provider’s stock worth $353,000 after acquiring an additional 612 shares during the period. Kinsale Capital Group Inc. grew its stake in Progressive by 38.4% during the 3rd quarter. Kinsale Capital Group Inc. now owns 89,544 shares of the insurance provider’s stock valued at $18,563,000 after purchasing an additional 24,855 shares during the last quarter. Gryphon Financial Partners LLC grew its stake in Progressive by 1.5% during the 3rd quarter. Gryphon Financial Partners LLC now owns 3,906 shares of the insurance provider’s stock valued at $810,000 after purchasing an additional 58 shares during the last quarter. M&G PLC increased its holdings in shares of Progressive by 6.1% in the third quarter. M&G PLC now owns 123,707 shares of the insurance provider’s stock valued at $25,607,000 after purchasing an additional 7,076 shares during the period. Finally, AlphaCore Capital LLC increased its holdings in shares of Progressive by 14.3% in the third quarter. AlphaCore Capital LLC now owns 3,305 shares of the insurance provider’s stock valued at $685,000 after purchasing an additional 414 shares during the period. 85.34% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Progressive news, insider Steven Broz sold 1,225 shares of the firm’s stock in a transaction that occurred on Thursday, October 22nd. The stock was sold at an average price of $223.32, for a total value of $273,567.00. Following the sale, the insider directly owned 28,807 shares of the company’s stock, valued at approximately $6,433,179.24. This trade represents a 4.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Susan Griffith sold 37,338 shares of Progressive stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $219.50, for a total transaction of $8,195,691.00. Following the completion of the sale, the chief executive officer directly owned 485,438 shares in the company, valued at $106,553,641. This represents a 7.14% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 48,352 shares of company stock worth $10,524,258 in the last ninety days. Company insiders own 0.32% of the company’s stock.

Progressive Stock Up 1.7%

Progressive stock opened at $231.35 on Wednesday. The firm has a market cap of $134.04 billion, a price-to-earnings ratio of 11.65, a price-to-earnings-growth ratio of 2.63 and a beta of 0.22. The Progressive Corporation has a 52 week low of $189.20 and a 52 week high of $241.02. The business’s 50-day moving average price is $219.18 and its 200 day moving average price is $210.23. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.24.

Analysts Set New Price Targets

A number of equities research analysts recently commented on PGR shares. Keefe, Bruyette & Woods dropped their target price on Progressive from $252.00 to $246.00 and set an “outperform” rating on the stock in a research report on Thursday, October 15th. JPMorgan Chase & Co. raised their price target on shares of Progressive from $241.00 to $250.00 and gave the stock a “neutral” rating in a research report on Monday, October 5th. Jefferies Financial Group reissued a “hold” rating and set a $228.00 price target (up from $213.00) on shares of Progressive in a research report on Wednesday, August 19th. William Blair restated a “market perform” rating on shares of Progressive in a research note on Wednesday, July 15th. Finally, Cantor Fitzgerald dropped their price objective on shares of Progressive from $220.00 to $200.00 and set a “neutral” rating on the stock in a report on Monday, August 17th. Nine investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Progressive presently has a consensus rating of “Hold” and a consensus price target of $234.45.

Progressive Company Profile

Progressive Corporation is an insurance company founded in 1937 and headquartered in Mayfield Village, Ohio. It provides personal and commercial insurance, with a major focus on automobile coverage. The company offers auto insurance for individuals and businesses, as well as coverage for motorcycles, boats, recreational vehicles, homes and renters. Progressive sells through independent insurance agents and directly to customers, including through digital channels. Its Snapshot program uses driving data to help determine auto insurance rates for participating customers.