Campbell & CO Investment Adviser LLC bought a new stake in shares of Progressive Corp (NYSE:PGR) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 12,671 shares of the insurance provider’s stock, valued at approximately $900,000. Progressive makes up approximately 0.6% of Campbell & CO Investment Adviser LLC’s investment portfolio, making the stock its 13th largest holding.

Several other institutional investors have also made changes to their positions in PGR. Donaldson Capital Management LLC boosted its holdings in Progressive by 20.4% in the third quarter. Donaldson Capital Management LLC now owns 4,505 shares of the insurance provider’s stock worth $320,000 after acquiring an additional 764 shares in the last quarter. Keybank National Association OH boosted its holdings in Progressive by 1.0% in the second quarter. Keybank National Association OH now owns 84,577 shares of the insurance provider’s stock worth $5,003,000 after acquiring an additional 837 shares in the last quarter. V Wealth Management LLC boosted its holdings in Progressive by 3.5% in the third quarter. V Wealth Management LLC now owns 25,842 shares of the insurance provider’s stock worth $1,839,000 after acquiring an additional 884 shares in the last quarter. State Treasurer State of Michigan boosted its holdings in Progressive by 0.5% in the second quarter. State Treasurer State of Michigan now owns 172,381 shares of the insurance provider’s stock worth $10,196,000 after acquiring an additional 900 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY boosted its holdings in Progressive by 0.8% in the second quarter. Metropolitan Life Insurance Co. NY now owns 116,500 shares of the insurance provider’s stock worth $6,891,000 after acquiring an additional 914 shares in the last quarter. Institutional investors own 80.24% of the company’s stock.

Shares of PGR traded down $1.41 on Friday, reaching $63.42. 3,435,795 shares of the company’s stock traded hands, compared to its average volume of 3,880,853. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $37.76 billion, a price-to-earnings ratio of 24.11, a PEG ratio of 1.86 and a beta of 0.68. Progressive Corp has a 52-week low of $50.79 and a 52-week high of $73.69.

Progressive (NYSE:PGR) last issued its quarterly earnings results on Tuesday, October 16th. The insurance provider reported $1.57 EPS for the quarter, beating the Zacks’ consensus estimate of $1.14 by $0.43. The company had revenue of $8.60 billion during the quarter, compared to the consensus estimate of $8.43 billion. Progressive had a return on equity of 27.45% and a net margin of 9.42%. Progressive’s revenue was up 20.5% on a year-over-year basis. During the same period last year, the business posted $0.38 earnings per share. As a group, equities research analysts predict that Progressive Corp will post 4.75 earnings per share for the current year.

In related news, insider John A. Barbagallo sold 50,000 shares of the stock in a transaction that occurred on Friday, October 26th. The stock was sold at an average price of $68.02, for a total transaction of $3,401,000.00. Following the completion of the sale, the insider now directly owns 177,368 shares of the company’s stock, valued at $12,064,571.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Susan Patricia Griffith sold 12,600 shares of the stock in a transaction that occurred on Thursday, November 15th. The shares were sold at an average price of $64.87, for a total value of $817,362.00. Following the sale, the insider now directly owns 253,256 shares of the company’s stock, valued at $16,428,716.72. The disclosure for this sale can be found here. Company insiders own 0.70% of the company’s stock.

PGR has been the topic of several recent research reports. Wells Fargo & Co reiterated a “hold” rating and issued a $64.00 price target on shares of Progressive in a report on Wednesday, August 15th. Citigroup increased their price objective on Progressive from $63.00 to $65.00 and gave the stock a “neutral” rating in a research note on Thursday, August 16th. ValuEngine raised Progressive from a “hold” rating to a “buy” rating in a research note on Tuesday, September 4th. MKM Partners increased their price objective on Progressive to $80.00 and gave the stock a “buy” rating in a research note on Friday, September 14th. Finally, UBS Group increased their price objective on Progressive from $70.00 to $78.00 and gave the stock a “buy” rating in a research note on Wednesday, September 19th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $70.93.

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About Progressive

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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Institutional Ownership by Quarter for Progressive (NYSE:PGR)

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