Humankind Investments LLC Raises Stock Position in The Progressive Co. (NYSE:PGR)

Humankind Investments LLC lifted its stake in shares of The Progressive Co. (NYSE:PGR) by 90.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,953 shares of the insurance provider’s stock after buying an additional 1,405 shares during the quarter. Humankind Investments LLC’s holdings in Progressive were worth $261,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the stock. Bank Julius Baer & Co. Ltd Zurich raised its stake in Progressive by 97,906.9% during the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 372,104,935 shares of the insurance provider’s stock valued at $49,255,530,000 after buying an additional 371,725,263 shares during the last quarter. Moneta Group Investment Advisors LLC bought a new position in Progressive in the 4th quarter worth about $840,885,000. Norges Bank bought a new stake in Progressive during the 4th quarter valued at about $802,968,000. FMR LLC lifted its stake in shares of Progressive by 33.8% in the first quarter. FMR LLC now owns 12,507,199 shares of the insurance provider’s stock worth $1,789,280,000 after buying an additional 3,158,144 shares in the last quarter. Finally, Morgan Stanley grew its holdings in shares of Progressive by 25.4% during the fourth quarter. Morgan Stanley now owns 6,721,345 shares of the insurance provider’s stock valued at $871,826,000 after buying an additional 1,361,665 shares during the last quarter. 83.66% of the stock is owned by institutional investors.

Progressive Price Performance

Shares of NYSE:PGR opened at $159.53 on Wednesday. The firm has a market cap of $93.33 billion, a price-to-earnings ratio of 34.61, a P/E/G ratio of 1.17 and a beta of 0.43. The firm has a fifty day moving average price of $148.32 and a 200 day moving average price of $136.31. The Progressive Co. has a fifty-two week low of $111.41 and a fifty-two week high of $161.98. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.33 and a current ratio of 0.33.

Progressive (NYSE:PGR) last issued its quarterly earnings data on Friday, October 13th. The insurance provider reported $2.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.71 by $0.38. The firm had revenue of $15.71 billion during the quarter, compared to analyst estimates of $15.66 billion. Progressive had a return on equity of 17.36% and a net margin of 4.67%. As a group, sell-side analysts expect that The Progressive Co. will post 5.33 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

PGR has been the topic of several analyst reports. Jefferies Financial Group upped their price objective on Progressive from $163.00 to $167.00 in a research report on Friday, October 6th. Piper Sandler upgraded Progressive from a “neutral” rating to an “overweight” rating and set a $186.00 price objective for the company in a report on Friday, October 13th. The Goldman Sachs Group upped their target price on shares of Progressive from $140.00 to $160.00 and gave the company a “neutral” rating in a research note on Tuesday, November 7th. BMO Capital Markets raised shares of Progressive from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $155.00 to $180.00 in a report on Wednesday, October 25th. Finally, Raymond James raised their target price on shares of Progressive from $145.00 to $165.00 and gave the stock an “outperform” rating in a report on Monday, October 16th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $159.53.

Insider Buying and Selling

In other news, Director Barbara R. Snyder sold 21,731 shares of the company’s stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $133.09, for a total transaction of $2,892,178.79. Following the sale, the director now directly owns 6,610 shares in the company, valued at approximately $879,724.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Barbara R. Snyder sold 21,731 shares of Progressive stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $133.09, for a total transaction of $2,892,178.79. Following the completion of the transaction, the director now directly owns 6,610 shares of the company’s stock, valued at approximately $879,724.90. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO John P. Sauerland sold 12,000 shares of the company’s stock in a transaction on Friday, September 15th. The shares were sold at an average price of $135.19, for a total value of $1,622,280.00. Following the completion of the transaction, the chief financial officer now directly owns 285,507 shares in the company, valued at approximately $38,597,691.33. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 69,021 shares of company stock worth $9,594,007. Insiders own 0.33% of the company’s stock.

Progressive Company Profile

The Progressive Corporation, an insurance holding company, provides personal and commercial auto, personal residential and commercial property, 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.