Mcdonald Capital Investors Inc. CA Sells 9,366 Shares of The Progressive Co. (NYSE:PGR)

Mcdonald Capital Investors Inc. CA trimmed its position in shares of The Progressive Co. (NYSE:PGR) by 0.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,034,182 shares of the insurance provider’s stock after selling 9,366 shares during the quarter. Progressive makes up 15.6% of Mcdonald Capital Investors Inc. CA’s holdings, making the stock its biggest holding. Mcdonald Capital Investors Inc. CA owned approximately 0.18% of Progressive worth $247,800,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. State Street Corp lifted its stake in shares of Progressive by 1.3% in the third quarter. State Street Corp now owns 24,683,807 shares of the insurance provider’s stock worth $6,263,763,000 after acquiring an additional 315,411 shares during the period. Geode Capital Management LLC lifted its stake in shares of Progressive by 13.2% in the third quarter. Geode Capital Management LLC now owns 14,425,792 shares of the insurance provider’s stock worth $3,652,235,000 after acquiring an additional 1,682,213 shares during the period. FMR LLC lifted its stake in shares of Progressive by 1.6% in the third quarter. FMR LLC now owns 10,518,615 shares of the insurance provider’s stock worth $2,669,204,000 after acquiring an additional 170,618 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Progressive by 7.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,067,924 shares of the insurance provider’s stock worth $1,286,036,000 after acquiring an additional 330,667 shares during the period. Finally, Jennison Associates LLC lifted its stake in shares of Progressive by 21.6% in the third quarter. Jennison Associates LLC now owns 4,749,628 shares of the insurance provider’s stock worth $1,205,266,000 after acquiring an additional 842,109 shares during the period. 85.34% of the stock is owned by institutional investors and hedge funds.

Progressive Stock Down 0.5 %

Shares of NYSE:PGR opened at $279.77 on Monday. The stock has a market cap of $164.00 billion, a price-to-earnings ratio of 19.43, a PEG ratio of 1.70 and a beta of 0.35. The company has a quick ratio of 0.30, a current ratio of 0.31 and a debt-to-equity ratio of 0.27. The Progressive Co. has a 12-month low of $194.49 and a 12-month high of $287.49. The business’s 50 day moving average is $254.23 and its 200 day moving average is $252.81.

Progressive (NYSE:PGR) last announced its earnings results on Wednesday, January 29th. The insurance provider reported $4.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.44 by $0.64. Progressive had a return on equity of 33.79% and a net margin of 11.25%. On average, sell-side analysts forecast that The Progressive Co. will post 14.68 earnings per share for the current fiscal year.

Insider Activity at Progressive

In other Progressive news, insider Andrew J. Quigg sold 681 shares of the business’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $242.10, for a total value of $164,870.10. Following the transaction, the insider now owns 33,612 shares of the company’s stock, valued at approximately $8,137,465.20. The trade was a 1.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO John P. Sauerland sold 10,000 shares of the business’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $238.66, for a total value of $2,386,600.00. Following the completion of the transaction, the chief financial officer now directly owns 282,958 shares in the company, valued at approximately $67,530,756.28. This represents a 3.41 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 56,361 shares of company stock valued at $14,102,075 over the last 90 days. Insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on PGR. Hsbc Global Res lowered Progressive from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Morgan Stanley lifted their target price on Progressive from $300.00 to $307.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. JPMorgan Chase & Co. lifted their target price on Progressive from $251.00 to $256.00 and gave the stock an “overweight” rating in a report on Friday, January 3rd. Bank of America lifted their target price on Progressive from $331.00 to $335.00 and gave the stock a “buy” rating in a report on Monday, November 18th. Finally, Wells Fargo & Company lifted their target price on Progressive from $313.00 to $317.00 and gave the stock an “overweight” rating in a report on Thursday, February 20th. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $277.59.

About Progressive

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.