Teachers Advisors LLC raised its position in Progressive Co. (NYSE:PGR) by 23.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,722,632 shares of the insurance provider’s stock after buying an additional 324,361 shares during the period. Teachers Advisors LLC owned about 0.30% of Progressive worth $97,019,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PGR. BlackRock Inc. increased its stake in shares of Progressive by 4.7% during the fourth quarter. BlackRock Inc. now owns 38,769,936 shares of the insurance provider’s stock worth $2,183,522,000 after purchasing an additional 1,742,936 shares in the last quarter. Artisan Partners Limited Partnership grew its stake in Progressive by 23.8% during the 3rd quarter. Artisan Partners Limited Partnership now owns 14,349,299 shares of the insurance provider’s stock valued at $694,793,000 after acquiring an additional 2,762,934 shares in the last quarter. Janus Henderson Group PLC grew its stake in Progressive by 40.0% during the 3rd quarter. Janus Henderson Group PLC now owns 9,061,299 shares of the insurance provider’s stock valued at $438,742,000 after acquiring an additional 2,588,522 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Progressive by 55.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 7,492,446 shares of the insurance provider’s stock valued at $362,783,000 after acquiring an additional 2,687,224 shares in the last quarter. Finally, Wells Fargo & Company MN grew its stake in Progressive by 9.3% during the 4th quarter. Wells Fargo & Company MN now owns 7,413,668 shares of the insurance provider’s stock valued at $417,536,000 after acquiring an additional 633,354 shares in the last quarter. 81.08% of the stock is owned by institutional investors.
Shares of PGR stock opened at $60.04 on Friday. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.36. Progressive Co. has a one year low of $38.61 and a one year high of $62.74. The company has a market capitalization of $35,757.57, a PE ratio of 22.83, a P/E/G ratio of 2.26 and a beta of 0.65.
Progressive (NYSE:PGR) last issued its quarterly earnings data on Wednesday, January 24th. The insurance provider reported $0.79 EPS for the quarter, topping the consensus estimate of $0.77 by $0.02. Progressive had a net margin of 5.93% and a return on equity of 15.96%. The firm had revenue of $6.75 billion for the quarter, compared to analyst estimates of $6.62 billion. During the same period in the prior year, the business posted $0.66 EPS. The business’s revenue for the quarter was up 21.6% compared to the same quarter last year. equities analysts expect that Progressive Co. will post 3.7 earnings per share for the current year.
PGR has been the subject of several research reports. Wells Fargo set a $55.00 price objective on shares of Progressive and gave the company a “hold” rating in a research note on Wednesday, December 13th. MKM Partners upped their price objective on shares of Progressive to $65.00 and gave the company a “buy” rating in a research note on Friday, December 15th. Credit Suisse Group reaffirmed a “hold” rating and set a $48.00 price objective on shares of Progressive in a research note on Friday, December 15th. UBS boosted their target price on shares of Progressive from $63.00 to $64.00 and gave the company a “buy” rating in a report on Thursday, January 25th. Finally, Zacks Investment Research lowered shares of Progressive from a “buy” rating to a “hold” rating in a report on Tuesday, March 6th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company’s stock. Progressive currently has an average rating of “Hold” and an average price target of $51.56.
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The Progressive Corporation, through its subsidiaries, provides personal and commercial auto insurance, residential property insurance, and other specialty property-casualty insurance and related services primarily in the United States. Its Personal Lines segment writes insurance for personal autos, and recreational and other vehicles.
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