The Progressive Co. (NYSE:PGR) Shares Acquired by Advisory Services Network LLC

Advisory Services Network LLC boosted its position in The Progressive Co. (NYSE:PGR - Free Report) by 30.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 23,339 shares of the insurance provider's stock after purchasing an additional 5,501 shares during the quarter. Advisory Services Network LLC's holdings in Progressive were worth $5,592,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of PGR. Straightline Group LLC bought a new position in Progressive in the 4th quarter worth about $263,000. Renaissance Technologies LLC lifted its stake in shares of Progressive by 30.0% in the fourth quarter. Renaissance Technologies LLC now owns 811,000 shares of the insurance provider's stock worth $194,324,000 after buying an additional 187,200 shares in the last quarter. Rathbones Group PLC lifted its stake in shares of Progressive by 14.2% in the fourth quarter. Rathbones Group PLC now owns 1,863 shares of the insurance provider's stock worth $446,000 after buying an additional 231 shares in the last quarter. Invesco Ltd. raised its holdings in Progressive by 2.9% in the 4th quarter. Invesco Ltd. now owns 5,521,545 shares of the insurance provider's stock worth $1,323,018,000 after acquiring an additional 153,044 shares during the last quarter. Finally, Employees Retirement System of Texas lifted its position in Progressive by 112.0% in the 4th quarter. Employees Retirement System of Texas now owns 34,541 shares of the insurance provider's stock valued at $8,276,000 after acquiring an additional 18,250 shares in the last quarter. Hedge funds and other institutional investors own 85.34% of the company's stock.

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Analyst Ratings Changes

A number of brokerages have recently issued reports on PGR. StockNews.com downgraded shares of Progressive from a "buy" rating to a "hold" rating in a report on Friday, April 4th. Roth Mkm raised their price objective on shares of Progressive from $290.00 to $315.00 and gave the stock a "buy" rating in a report on Tuesday, February 25th. UBS Group upped their price objective on Progressive from $275.00 to $285.00 and gave the stock a "neutral" rating in a research note on Friday, March 14th. JPMorgan Chase & Co. upped their price target on Progressive from $267.00 to $287.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 8th. Finally, Morgan Stanley boosted their price objective on Progressive from $300.00 to $307.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. Eight investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $283.71.

Progressive Trading Up 1.3 %

PGR stock traded up $3.65 during midday trading on Monday, reaching $279.29. The company's stock had a trading volume of 528,685 shares, compared to its average volume of 3,157,381. The Progressive Co. has a 1 year low of $201.34 and a 1 year high of $292.99. The firm has a market capitalization of $163.73 billion, a price-to-earnings ratio of 19.40, a PEG ratio of 1.70 and a beta of 0.38. The stock has a fifty day simple moving average of $271.85 and a two-hundred day simple moving average of $257.23. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.30 and a current ratio of 0.31.

Progressive (NYSE:PGR - Get Free Report) last issued its earnings results on Wednesday, January 29th. The insurance provider reported $4.08 EPS for the quarter, topping analysts' consensus estimates of $3.44 by $0.64. Progressive had a net margin of 11.25% and a return on equity of 33.79%. On average, equities research analysts predict that The Progressive Co. will post 14.68 EPS for the current year.

Progressive Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Thursday, April 3rd were issued a $0.10 dividend. The ex-dividend date of this dividend was Thursday, April 3rd. This represents a $0.40 annualized dividend and a dividend yield of 0.14%. Progressive's payout ratio is currently 2.78%.

Insider Transactions at Progressive

In other Progressive news, CAO Carl G. Joyce sold 360 shares of the business's stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $276.17, for a total value of $99,421.20. Following the completion of the transaction, the chief accounting officer now directly owns 655 shares in the company, valued at approximately $180,891.35. The trade was a 35.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Andrew J. Quigg sold 962 shares of the firm's stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $243.29, for a total transaction of $234,044.98. Following the completion of the sale, the insider now owns 34,787 shares in the company, valued at $8,463,329.23. This represents a 2.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 56,317 shares of company stock valued at $14,844,282. Company insiders own 0.34% of the company's stock.

Progressive Profile

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.