Canada Post Corp Registered Pension Plan Invests $2.54 Million in The Progressive Co. (NYSE:PGR)

Canada Post Corp Registered Pension Plan acquired a new position in The Progressive Co. (NYSE:PGR - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 10,605 shares of the insurance provider's stock, valued at approximately $2,541,000.

Several other institutional investors have also added to or reduced their stakes in PGR. Morse Asset Management Inc purchased a new position in Progressive during the 3rd quarter valued at $55,000. Virtu Financial LLC purchased a new stake in shares of Progressive during the third quarter valued at $2,566,000. SkyView Investment Advisors LLC grew its holdings in shares of Progressive by 2.2% in the third quarter. SkyView Investment Advisors LLC now owns 8,054 shares of the insurance provider's stock worth $2,044,000 after purchasing an additional 171 shares during the last quarter. Anchor Investment Management LLC increased its stake in Progressive by 55.0% in the 3rd quarter. Anchor Investment Management LLC now owns 1,583 shares of the insurance provider's stock worth $402,000 after buying an additional 562 shares during the period. Finally, World Investment Advisors LLC lifted its holdings in Progressive by 99.0% during the 3rd quarter. World Investment Advisors LLC now owns 3,307 shares of the insurance provider's stock valued at $839,000 after buying an additional 1,645 shares in the last quarter. Institutional investors own 85.34% of the company's stock.

Insider Transactions at Progressive

In related news, CFO John P. Sauerland sold 10,000 shares of the company's stock in a transaction dated Friday, March 28th. The stock was sold at an average price of $275.94, for a total value of $2,759,400.00. Following the completion of the transaction, the chief financial officer now owns 258,024 shares of the company's stock, valued at approximately $71,199,142.56. This represents a 3.73 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Andrew J. Quigg sold 962 shares of the business's stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $243.29, for a total value of $234,044.98. Following the completion of the sale, the insider now owns 34,787 shares of the company's stock, valued at $8,463,329.23. This trade represents a 2.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 56,317 shares of company stock worth $14,844,282 over the last quarter. 0.34% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. JPMorgan Chase & Co. lifted their price target on shares of Progressive from $267.00 to $287.00 and gave the company an "overweight" rating in a research note on Tuesday, April 8th. Roth Mkm raised their price target on Progressive from $290.00 to $315.00 and gave the company a "buy" rating in a research note on Tuesday, February 25th. StockNews.com lowered shares of Progressive from a "buy" rating to a "hold" rating in a research note on Friday, April 4th. Jefferies Financial Group reduced their price target on shares of Progressive from $327.00 to $319.00 and set a "buy" rating for the company in a report on Friday, April 11th. Finally, Bank of America lifted their price objective on shares of Progressive from $289.00 to $297.00 and gave the company a "neutral" rating in a report on Thursday. Nine equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $285.76.

Progressive Stock Performance

PGR stock traded down $9.68 during midday trading on Friday, reaching $265.45. The stock had a trading volume of 3,648,773 shares, compared to its average volume of 2,636,730. The firm has a fifty day simple moving average of $273.91 and a two-hundred day simple moving average of $257.90. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.30 and a current ratio of 0.31. The stock has a market cap of $155.62 billion, a PE ratio of 18.43, a P/E/G ratio of 1.70 and a beta of 0.38. The Progressive Co. has a 52-week low of $201.34 and a 52-week high of $292.99.

Progressive (NYSE:PGR - Get Free Report) last issued its quarterly earnings results on Wednesday, April 16th. The insurance provider reported $4.65 earnings per share for the quarter, topping the consensus estimate of $4.28 by $0.37. The company had revenue of $22.21 billion for the quarter, compared to the consensus estimate of $21.87 billion. Progressive had a net margin of 11.25% and a return on equity of 33.79%. As a group, equities research analysts anticipate that The Progressive Co. will post 14.68 EPS for the current year.

Progressive Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Thursday, April 3rd were issued a $0.10 dividend. The ex-dividend date was Thursday, April 3rd. This represents a $0.40 annualized dividend and a dividend yield of 0.15%. Progressive's dividend payout ratio (DPR) is presently 2.70%.

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.