Czech National Bank boosted its position in The Progressive Co. (NYSE:PGR - Free Report) by 6.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 127,016 shares of the insurance provider's stock after acquiring an additional 7,710 shares during the period. Czech National Bank's holdings in Progressive were worth $30,434,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of PGR. State Street Corp grew its holdings in shares of Progressive by 1.3% during the third quarter. State Street Corp now owns 24,683,807 shares of the insurance provider's stock valued at $6,263,763,000 after buying an additional 315,411 shares during the last quarter. Geode Capital Management LLC increased its holdings in Progressive by 13.2% during 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 purchasing an additional 1,682,213 shares in the last quarter. FMR LLC raised its stake in shares of Progressive by 1.6% in the third quarter. FMR LLC now owns 10,518,615 shares of the insurance provider's stock worth $2,669,204,000 after purchasing an additional 170,618 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Progressive by 7.0% in the third 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 purchasing an additional 330,667 shares in the last quarter. Finally, Legal & General Group Plc boosted its position in shares of Progressive by 1.9% during the second quarter. Legal & General Group Plc now owns 4,922,743 shares of the insurance provider's stock valued at $1,022,507,000 after buying an additional 92,212 shares during the last quarter. Institutional investors and hedge funds own 85.34% of the company's stock.
Wall Street Analyst Weigh In
Several equities analysts have weighed in on PGR shares. JPMorgan Chase & Co. raised their price objective on Progressive from $251.00 to $256.00 and gave the company an "overweight" rating in a research note on Friday, January 3rd. Roth Mkm raised their price target on shares of Progressive from $270.00 to $290.00 and gave the company a "buy" rating in a research report on Monday, September 16th. Raymond James raised shares of Progressive from a "market perform" rating to an "outperform" rating and set a $305.00 price objective for the company in a research report on Thursday, December 26th. Hsbc Global Res cut shares of Progressive from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, December 10th. Finally, BMO Capital Markets reduced their target price on Progressive from $273.00 to $267.00 and set an "outperform" rating for the company in a report on Monday, December 16th. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $275.24.
Get Our Latest Report on Progressive
Insider Transactions at Progressive
In related news, insider Andrew J. Quigg sold 681 shares of the 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 transaction, the insider now owns 33,612 shares of the company's stock, valued at $8,137,465.20. This represents a 1.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Mariann Wojtkun Marshall sold 191 shares of Progressive stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $242.10, for a total value of $46,241.10. Following the sale, the chief accounting officer now directly 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 32,919 shares of company stock valued at $8,222,168. 0.34% of the stock is currently owned by company insiders.
Progressive Stock Performance
PGR traded up $0.23 on Monday, hitting $235.84. The company's stock had a trading volume of 3,023,554 shares, compared to its average volume of 2,623,248. The company's 50 day simple moving average is $251.23 and its 200-day simple moving average is $241.78. The firm has a market cap of $138.16 billion, a P/E ratio of 17.14, a price-to-earnings-growth ratio of 0.70 and a beta of 0.41. The Progressive Co. has a 12 month low of $166.92 and a 12 month high of $270.62. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.25.
Progressive (NYSE:PGR - Get Free Report) last posted its earnings results on Tuesday, October 15th. The insurance provider reported $3.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.40 by $0.18. The firm had revenue of $19.43 billion for the quarter, compared to the consensus estimate of $18.95 billion. Progressive had a return on equity of 33.10% and a net margin of 11.27%. Analysts forecast that The Progressive Co. will post 13.2 EPS for the current year.
Progressive Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, January 16th. Investors of record on Thursday, January 9th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.17%. The ex-dividend date is Friday, January 10th. Progressive's dividend payout ratio (DPR) is presently 2.91%.
Progressive Profile
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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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