Capital International Inc. CA Has $16.76 Million Stock Holdings in The Progressive Co. (NYSE:PGR)

Capital International Inc. CA increased its stake in shares of The Progressive Co. (NYSE:PGR - Free Report) by 12.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 69,953 shares of the insurance provider's stock after purchasing an additional 7,713 shares during the period. Capital International Inc. CA's holdings in Progressive were worth $16,761,000 as of its most recent SEC filing.

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

Progressive Stock Performance

Progressive stock traded up $0.01 during mid-day trading on Wednesday, reaching $265.09. The company had a trading volume of 2,001,178 shares, compared to its average volume of 2,638,902. The Progressive Co. has a 52 week low of $201.34 and a 52 week high of $292.99. The firm has a market cap of $155.40 billion, a price-to-earnings ratio of 18.41, a PEG ratio of 1.70 and a beta of 0.38. The company has a 50 day moving average of $274.00 and a 200-day moving average of $257.97. The company has a quick ratio of 0.30, a current ratio of 0.31 and a debt-to-equity ratio of 0.27.

Progressive (NYSE:PGR - Get Free Report) last issued its earnings results on Wednesday, April 16th. The insurance provider reported $4.65 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.28 by $0.37. The company had revenue of $22.21 billion for the quarter, compared to analysts' expectations of $21.87 billion. Progressive had a net margin of 11.25% and a return on equity of 33.79%. On average, sell-side analysts expect that The Progressive Co. will post 14.68 EPS for the current fiscal year.

Progressive Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Thursday, April 3rd were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.15%. The ex-dividend date was Thursday, April 3rd. Progressive's dividend payout ratio is currently 2.70%.

Insider Transactions at Progressive

In other Progressive news, Director Jeffrey D. Kelly sold 10,000 shares of the business's stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $250.00, for a total transaction of $2,500,000.00. Following the sale, the director now directly owns 27,741 shares in the company, valued at $6,935,250. This represents a 26.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Lori A. Niederst sold 3,855 shares of Progressive stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $247.06, for a total transaction of $952,416.30. Following the completion of the transaction, the insider now owns 39,040 shares in the company, valued at approximately $9,645,222.40. This represents a 8.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 43,749 shares of company stock worth $11,786,613. Company insiders own 0.33% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Keefe, Bruyette & Woods reissued a "market perform" rating and set a $288.00 price objective on shares of Progressive in a report on Thursday, April 17th. Bank of America raised their price objective on Progressive from $289.00 to $297.00 and gave the stock a "neutral" rating in a report on Thursday, April 17th. JPMorgan Chase & Co. lifted their price objective on Progressive from $267.00 to $287.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 8th. Barclays raised their target price on Progressive from $285.00 to $297.00 and gave the company an "equal weight" rating in a research note on Friday, April 11th. Finally, StockNews.com lowered Progressive from a "buy" rating to a "hold" rating in a research report on Friday, April 4th. Nine research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, Progressive presently has an average rating of "Moderate Buy" and a consensus price target of $285.76.

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.