Robeco Institutional Asset Management B.V. Purchases 40,888 Shares of The Progressive Corporation (NYSE:PGR)

Robeco Institutional Asset Management B.V. boosted its stake in The Progressive Corporation (NYSE:PGR - Free Report) by 14.0% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 332,895 shares of the insurance provider's stock after purchasing an additional 40,888 shares during the quarter. Robeco Institutional Asset Management B.V. owned about 0.06% of Progressive worth $94,213,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of PGR. Vanguard Group Inc. raised its holdings in shares of Progressive by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 53,400,366 shares of the insurance provider's stock worth $12,795,262,000 after buying an additional 583,376 shares in the last quarter. Geode Capital Management LLC raised its stake in Progressive by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 14,615,430 shares of the insurance provider's stock worth $3,498,363,000 after acquiring an additional 189,638 shares in the last quarter. Norges Bank acquired a new position in Progressive during the fourth quarter worth about $1,843,045,000. Northern Trust Corp lifted its holdings in shares of Progressive by 13.0% in the fourth quarter. Northern Trust Corp now owns 6,179,529 shares of the insurance provider's stock worth $1,480,677,000 after acquiring an additional 710,684 shares during the last quarter. Finally, Capital Research Global Investors boosted its stake in shares of Progressive by 34.3% in the 4th quarter. Capital Research Global Investors now owns 6,058,187 shares of the insurance provider's stock valued at $1,451,602,000 after purchasing an additional 1,547,677 shares in the last quarter. Institutional investors own 85.34% of the company's stock.

Insider Activity at Progressive

In other Progressive news, Director Dyke Kahina Van sold 2,490 shares of Progressive stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $277.67, for a total value of $691,398.30. Following the completion of the sale, the director now directly owns 12,429 shares of the company's stock, valued at approximately $3,451,160.43. The trade was a 16.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO John P. Sauerland sold 10,000 shares of the company's stock in a transaction dated Monday, April 28th. The shares were sold at an average price of $268.59, for a total transaction of $2,685,900.00. Following the transaction, the chief financial officer now owns 248,024 shares in the company, valued at $66,616,766.16. This represents a 3.88% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 32,705 shares of company stock worth $8,813,048 in the last 90 days. Corporate insiders own 0.34% of the company's stock.

Analyst Upgrades and Downgrades

PGR has been the subject of several research reports. Wall Street Zen raised shares of Progressive from a "hold" rating to a "buy" rating in a research note on Saturday, June 21st. Jefferies Financial Group lowered their price target on shares of Progressive from $327.00 to $319.00 and set a "buy" rating for the company in a report on Friday, April 11th. Wells Fargo & Company raised their price objective on Progressive from $328.00 to $333.00 and gave the company an "overweight" rating in a report on Friday, June 20th. JPMorgan Chase & Co. boosted their price objective on Progressive from $267.00 to $287.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 8th. Finally, Barclays upped their target price on Progressive from $285.00 to $297.00 and gave the stock an "equal weight" rating in a report on Friday, April 11th. Seven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $288.88.

Progressive Trading Up 0.9%

Shares of PGR traded up $2.23 during trading hours on Friday, hitting $263.85. 12,464,473 shares of the stock were exchanged, compared to its average volume of 2,759,316. The Progressive Corporation has a fifty-two week low of $207.48 and a fifty-two week high of $292.99. The business has a 50-day moving average of $274.49 and a 200-day moving average of $264.65. The firm has a market capitalization of $154.68 billion, a P/E ratio of 17.79, a price-to-earnings-growth ratio of 1.60 and a beta of 0.40. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.29 and a quick ratio of 0.29.

Progressive (NYSE:PGR - Get Free Report) last issued its quarterly earnings results on Wednesday, April 16th. The insurance provider reported $4.65 EPS for the quarter, beating analysts' consensus estimates of $4.28 by $0.37. Progressive had a net margin of 11.10% and a return on equity of 33.50%. The business had revenue of $22.21 billion for the quarter, compared to analysts' expectations of $21.87 billion. On average, research analysts expect that The Progressive Corporation will post 14.68 EPS for the current year.

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.