Today: The Exxonmobil Investment Management Inc. TX reduces its investment in Progressive Corp. (PGR)

The Exxonmobil Investment Management Inc. TX reduces its investment in Progressive Corp. (PGR)

Exxonmobil Investment Management Inc. TX decreased its stake in Progressive Corp. (NYSE:PGR) by 1.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 148,584 shares of the company’s stock after selling 2,326 shares during the period. Exxonmobil Investment Management Inc. TX’s holdings in Progressive Corp. were worth $4,680,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the company. Envestnet Asset Management Inc. boosted its stake in shares of Progressive Corp. by 7.5% in the first quarter. Envestnet Asset Management Inc. now owns 67,747 shares of the company’s stock valued at $2,381,000 after buying an additional 4,734 shares during the last quarter. Panagora Asset Management Inc. boosted its stake in shares of Progressive Corp. by 14.4% in the first quarter. Panagora Asset Management Inc. now owns 332,939 shares of the company’s stock valued at $11,699,000 after buying an additional 41,807 shares during the last quarter. Arizona State Retirement System boosted its stake in shares of Progressive Corp. by 1.2% in the first quarter. Arizona State Retirement System now owns 221,280 shares of the company’s stock valued at $7,776,000 after buying an additional 2,600 shares during the last quarter. Squarepoint Ops LLC purchased a new stake in shares of Progressive Corp. during the first quarter valued at approximately $1,237,000. Finally, Ladenburg Thalmann Financial Services Inc. boosted its stake in shares of Progressive Corp. by 485.3% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 51,456 shares of the company’s stock valued at $1,808,000 after buying an additional 42,664 shares during the last quarter. Hedge funds and other institutional investors own 78.05% of the company’s stock.

Progressive Corp. (NYSE:PGR) traded up 0.15% during trading on Friday, reaching $33.45. The company had a trading volume of 702,791 shares. Progressive Corp. has a 12 month low of $29.32 and a 12 month high of $35.54. The firm’s 50 day moving average is $32.19 and its 200-day moving average is $32.46. The company has a market capitalization of $19.43 billion, a P/E ratio of 20.02 and a beta of 0.75.

Progressive Corp. (NYSE:PGR) last released its quarterly earnings results on Thursday, October 13th. The company reported $0.34 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.36 by $0.02. Progressive Corp. had a return on equity of 12.30% and a net margin of 4.31%. The company earned $6.05 billion during the quarter. During the same period last year, the business posted $0.47 earnings per share. The firm’s revenue was up 11.8% on a year-over-year basis. On average, equities analysts expect that Progressive Corp. will post $1.52 earnings per share for the current year.

Several analysts recently commented on PGR shares. Zacks Investment Research cut Progressive Corp. from a “hold” rating to a “sell” rating in a research report on Wednesday, August 3rd. Credit Suisse Group AG set a $28.00 price target on Progressive Corp. and gave the stock a “sell” rating in a research report on Tuesday, August 23rd. William Blair restated an “outperform” rating on shares of Progressive Corp. in a report on Saturday, September 10th. Keefe, Bruyette & Woods upgraded Progressive Corp. from an “underperform” rating to a “market perform” rating and upped their target price for the company from $29.00 to $31.00 in a report on Thursday, September 15th. Finally, Deutsche Bank AG dropped their target price on Progressive Corp. from $30.00 to $28.00 and set a “sell” rating for the company in a report on Monday, September 19th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Progressive Corp. currently has a consensus rating of “Hold” and an average target price of $32.41.

In other news, insider M Jeffrey Charney sold 7,000 shares of the business’s stock in a transaction on Friday, September 2nd. The stock was sold at an average price of $32.50, for a total value of $227,500.00. Following the completion of the transaction, the insider now directly owns 71,961 shares of the company’s stock, valued at $2,338,732.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.60% of the stock is owned by insiders.

Progressive Corp. Company Profile

The Progressive Corporation is an insurance holding company. The Company’s insurance subsidiaries and affiliates provide personal and commercial automobile and property insurance, other specialty property-casualty insurance and related services. The Company operates through Personal Lines, Commercial Lines and Property segments.

Related posts

Leave a Comment