Advyzon Investment Management LLC bought a new position in The Progressive Co. (NYSE:PGR - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 1,641 shares of the insurance provider's stock, valued at approximately $393,000.
Several other large investors have also recently bought and sold shares of the company. State Street Corp increased its position in shares of Progressive by 1.3% in the third quarter. State Street Corp now owns 24,683,807 shares of the insurance provider's stock worth $6,263,763,000 after purchasing an additional 315,411 shares during the last quarter. Geode Capital Management LLC grew its stake in Progressive by 13.2% in the 3rd quarter. Geode Capital Management LLC now owns 14,425,792 shares of the insurance provider's stock worth $3,652,235,000 after buying an additional 1,682,213 shares in the last quarter. FMR LLC increased its holdings in shares of Progressive by 1.6% in the 3rd quarter. FMR LLC now owns 10,518,615 shares of the insurance provider's stock worth $2,669,204,000 after buying an additional 170,618 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Progressive by 7.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,067,924 shares of the insurance provider's stock valued at $1,286,036,000 after buying an additional 330,667 shares in the last quarter. Finally, Jennison Associates LLC lifted its holdings in shares of Progressive by 21.6% during the 3rd quarter. Jennison Associates LLC now owns 4,749,628 shares of the insurance provider's stock worth $1,205,266,000 after acquiring an additional 842,109 shares during the last quarter. 85.34% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
A number of research analysts recently commented on PGR shares. Wells Fargo & Company raised their price target on Progressive from $313.00 to $317.00 and gave the company an "overweight" rating in a research report on Thursday. Morgan Stanley raised their price objective on Progressive from $300.00 to $307.00 and gave the company an "overweight" rating in a report on Friday, January 31st. Barclays upped their target price on Progressive from $261.00 to $264.00 and gave the stock an "equal weight" rating in a research note on Tuesday. TD Cowen lifted their price target on shares of Progressive from $197.00 to $237.00 and gave the stock a "hold" rating in a research note on Friday, November 8th. Finally, Hsbc Global Res cut shares of Progressive from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, December 10th. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $276.12.
Check Out Our Latest Stock Analysis on PGR
Insider Buying and Selling
In related news, CFO John P. Sauerland sold 10,000 shares of the firm's stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $268.09, for a total transaction of $2,680,900.00. Following the completion of the transaction, the chief financial officer now owns 292,958 shares of the company's stock, valued at $78,539,110.22. This trade represents a 3.30 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Andrew J. Quigg sold 681 shares of the business's stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $242.10, for a total value of $164,870.10. Following the completion of the sale, the insider now directly owns 33,612 shares in the company, valued at $8,137,465.20. This trade represents a 1.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 56,361 shares of company stock worth $13,983,575 in the last three months. 0.34% of the stock is owned by corporate insiders.
Progressive Trading Down 0.6 %
Shares of PGR traded down $1.68 during mid-day trading on Friday, hitting $265.99. 2,567,348 shares of the company's stock traded hands, compared to its average volume of 2,505,890. The company has a quick ratio of 0.30, a current ratio of 0.31 and a debt-to-equity ratio of 0.27. The Progressive Co. has a 1 year low of $186.94 and a 1 year high of $270.79. The firm has a market capitalization of $155.82 billion, a P/E ratio of 18.47, a PEG ratio of 0.68 and a beta of 0.42. The business's 50-day moving average price is $246.61 and its 200-day moving average price is $248.49.
Progressive (NYSE:PGR - Get Free Report) last announced its earnings results on Wednesday, January 29th. The insurance provider reported $4.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.44 by $0.64. Progressive had a return on equity of 33.79% and a net margin of 11.25%. As a group, sell-side analysts forecast that The Progressive Co. will post 14.5 EPS for the current fiscal year.
Progressive Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Thursday, January 9th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.15%. The ex-dividend date was Friday, January 10th. Progressive's dividend payout ratio is presently 2.78%.
Progressive Profile
(
Free Report)
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.
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