Commonwealth of Pennsylvania Public School Empls Retrmt SYS Sells 2,933 Shares of The Progressive Co. (NYSE:PGR)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS cut its holdings in The Progressive Co. (NYSE:PGR - Free Report) by 2.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 124,561 shares of the insurance provider's stock after selling 2,933 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS's holdings in Progressive were worth $29,846,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. AMG National Trust Bank bought a new position in shares of Progressive during the third quarter valued at approximately $203,000. Caprock Group LLC increased its position in Progressive by 7.3% during the 3rd quarter. Caprock Group LLC now owns 14,547 shares of the insurance provider's stock valued at $3,691,000 after buying an additional 995 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Progressive during the third quarter valued at $8,935,000. Avior Wealth Management LLC boosted its holdings in Progressive by 3.1% in the third quarter. Avior Wealth Management LLC now owns 3,221 shares of the insurance provider's stock worth $817,000 after acquiring an additional 96 shares in the last quarter. Finally, Jennison Associates LLC grew its stake in shares of Progressive by 21.6% in the third 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 currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on PGR shares. UBS Group lifted their price target on Progressive from $275.00 to $285.00 and gave the stock a "neutral" rating in a research report on Friday, March 14th. StockNews.com upgraded shares of Progressive from a "hold" rating to a "buy" rating in a research note on Saturday. HSBC downgraded shares of Progressive from a "buy" rating to a "hold" rating and set a $267.00 price target for the company. in a research report on Tuesday, December 10th. BMO Capital Markets cut their target price on Progressive from $273.00 to $267.00 and set an "outperform" rating on the stock in a research note on Monday, December 16th. Finally, Wells Fargo & Company boosted their price target on Progressive from $313.00 to $317.00 and gave the stock an "overweight" rating in a research note on Thursday, February 20th. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $281.06.

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Insider Activity

In related news, CAO Mariann Wojtkun Marshall sold 191 shares of Progressive stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $242.10, for a total transaction of $46,241.10. Following the sale, the chief accounting officer now owns 3,982 shares of the company's stock, valued at approximately $964,042.20. This trade represents a 4.58 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO John P. Sauerland sold 10,000 shares of the company's stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $238.66, for a total value of $2,386,600.00. Following the completion of the transaction, the chief financial officer now owns 282,958 shares of the company's stock, valued at $67,530,756.28. The trade was a 3.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 65,855 shares of company stock worth $16,767,455 in the last three months. Company insiders own 0.34% of the company's stock.

Progressive Stock Performance

NYSE PGR traded up $1.21 on Monday, hitting $274.07. 2,553,247 shares of the company traded hands, compared to its average volume of 2,433,886. The business's 50 day moving average price is $262.72 and its 200-day moving average price is $255.19. The Progressive Co. has a 52-week low of $201.34 and a 52-week high of $292.99. The company has a current ratio of 0.31, a quick ratio of 0.30 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $160.66 billion, a price-to-earnings ratio of 19.03, a P/E/G ratio of 1.70 and a beta of 0.35.

Progressive (NYSE:PGR - Get Free Report) last announced its quarterly earnings data on Wednesday, January 29th. The insurance provider reported $4.08 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.44 by $0.64. Progressive had a return on equity of 33.79% and a net margin of 11.25%. Equities analysts expect that The Progressive Co. will post 14.68 earnings per share for the current year.

Progressive Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Thursday, April 3rd will be paid a $0.10 dividend. The ex-dividend date is Thursday, April 3rd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.15%. Progressive's dividend payout ratio (DPR) is presently 2.78%.

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.