The Bradley Foster & Sargent Inc. CT Acquires 19,822 Shares of Progressive Corp. (PGR)

The Bradley Foster & Sargent Inc. CT Acquires 19,822 Shares of Progressive Corp. (PGR)

Bradley Foster & Sargent Inc. CT boosted its position in shares of Progressive Corp. (NYSE:PGR) by 254.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 27,622 shares of the company’s stock after buying an additional 19,822 shares during the period. Bradley Foster & Sargent Inc. CT’s holdings in Progressive Corp. were worth $870,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in PGR. Livingston Group Asset Management CO operating as Southport Capital Management purchased a new stake in Progressive Corp. during the second quarter worth approximately $108,000. Cornerstone Advisors Inc. boosted its stake in Progressive Corp. by 25.3% in the third quarter. Cornerstone Advisors Inc. now owns 3,271 shares of the company’s stock worth $103,000 after buying an additional 660 shares in the last quarter. MSI Financial Services Inc boosted its stake in Progressive Corp. by 37.2% in the third quarter. MSI Financial Services Inc now owns 3,447 shares of the company’s stock worth $109,000 after buying an additional 935 shares in the last quarter. Financial Architects Inc boosted its stake in Progressive Corp. by 1,471.7% in the second quarter. Financial Architects Inc now owns 3,992 shares of the company’s stock worth $134,000 after buying an additional 3,738 shares in the last quarter. Finally, Van ECK Associates Corp boosted its stake in Progressive Corp. by 24.2% in the second quarter. Van ECK Associates Corp now owns 4,833 shares of the company’s stock worth $162,000 after buying an additional 943 shares in the last quarter. Institutional investors and hedge funds own 75.87% of the company’s stock.

Shares of Progressive Corp. (NYSE:PGR) traded up 0.08% during midday trading on Thursday, reaching $36.38. 2,310,121 shares of the company traded hands. The company has a 50-day moving average of $35.20 and a 200 day moving average of $33.07. Progressive Corp. has a 12-month low of $29.38 and a 12-month high of $36.59. The firm has a market capitalization of $21.13 billion, a PE ratio of 21.77 and a beta of 0.76.

A number of analysts recently commented on the stock. Zacks Investment Research upgraded shares of Progressive Corp. from a “hold” rating to a “buy” rating and set a $41.00 price objective for the company in a research report on Tuesday. Goldman Sachs Group Inc. upgraded shares of Progressive Corp. from a “sell” rating to a “neutral” rating and upped their price objective for the company from $29.00 to $34.00 in a research report on Tuesday, January 10th. Morgan Stanley upgraded shares of Progressive Corp. from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $31.00 to $36.00 in a research report on Thursday, January 5th. Citigroup Inc. raised shares of Progressive Corp. from a “sell” rating to a “neutral” rating and upped their target price for the stock from $30.00 to $34.00 in a research note on Friday, October 14th. Finally, Credit Suisse Group AG reaffirmed a “sell” rating and issued a $28.00 target price on shares of Progressive Corp. in a research note on Thursday, November 17th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $33.22.

In related news, insider Valerie A. Krasowski sold 10,500 shares of the firm’s stock in a transaction that occurred on Monday, December 19th. The shares were sold at an average price of $35.78, for a total value of $375,690.00. Following the transaction, the insider now owns 145,810 shares of the company’s stock, valued at $5,217,081.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.60% of the company’s stock.

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.

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