The Progressive Co. (NYSE:PGR) Shares Acquired by Federated Hermes Inc.

Federated Hermes Inc. lifted its holdings in shares of The Progressive Co. (NYSE:PGR - Free Report) by 11.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 221,596 shares of the insurance provider's stock after purchasing an additional 23,595 shares during the period. Federated Hermes Inc.'s holdings in Progressive were worth $53,097,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of PGR. Kesler Norman & Wride LLC increased its holdings in Progressive by 1.1% during the fourth quarter. Kesler Norman & Wride LLC now owns 3,695 shares of the insurance provider's stock valued at $885,000 after buying an additional 40 shares during the period. Atlantic Edge Private Wealth Management LLC boosted its position in Progressive by 54.7% in the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 116 shares of the insurance provider's stock worth $28,000 after purchasing an additional 41 shares in the last quarter. LRI Investments LLC boosted its position in Progressive by 16.5% during the third quarter. LRI Investments LLC now owns 296 shares of the insurance provider's stock worth $76,000 after purchasing an additional 42 shares in the last quarter. Washington Trust Bank boosted its holdings in Progressive by 4.1% in the 4th quarter. Washington Trust Bank now owns 1,066 shares of the insurance provider's stock worth $255,000 after buying an additional 42 shares during the last quarter. Finally, SYM FINANCIAL Corp increased its stake in Progressive by 2.8% during the 4th quarter. SYM FINANCIAL Corp now owns 1,602 shares of the insurance provider's stock worth $384,000 after buying an additional 44 shares in the last quarter. 85.34% of the stock is owned by institutional investors.

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Insider Buying and Selling

In other Progressive news, CAO Mariann Wojtkun Marshall sold 585 shares of the business's stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $243.29, for a total transaction of $142,324.65. Following the transaction, the chief accounting officer now owns 3,983 shares in the company, valued at approximately $969,024.07. The trade was a 12.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO John P. Sauerland sold 1,542 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $282.66, for a total transaction of $435,861.72. Following the completion of the transaction, the chief financial officer now owns 268,024 shares of the company's stock, valued at $75,759,663.84. This represents a 0.57 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 56,317 shares of company stock valued at $14,844,282. Corporate insiders own 0.34% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on PGR shares. JPMorgan Chase & Co. lifted their price target on Progressive from $267.00 to $287.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 8th. Barclays upped their target price on shares of Progressive from $285.00 to $297.00 and gave the stock an "equal weight" rating in a report on Friday. Morgan Stanley raised their price target on shares of Progressive from $300.00 to $307.00 and gave the stock an "overweight" rating in a research note on Friday, January 31st. BMO Capital Markets dropped their price objective on shares of Progressive from $273.00 to $267.00 and set an "outperform" rating for the company in a research note on Monday, December 16th. Finally, StockNews.com lowered shares of Progressive from a "buy" rating to a "hold" rating in a research note on Friday, April 4th. Eight equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Progressive currently has a consensus rating of "Moderate Buy" and a consensus target price of $283.71.

Progressive Trading Up 1.0 %

NYSE PGR traded up $2.60 during trading hours on Friday, reaching $275.78. The company had a trading volume of 3,052,599 shares, compared to its average volume of 2,646,373. The Progressive Co. has a 1-year low of $201.34 and a 1-year high of $292.99. The stock has a market capitalization of $161.67 billion, a P/E ratio of 19.15, a price-to-earnings-growth ratio of 1.70 and a beta of 0.38. The stock has a 50-day moving average of $271.85 and a 200 day moving average of $257.23. The company has a current ratio of 0.31, a quick ratio of 0.30 and a debt-to-equity ratio of 0.27.

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

Progressive Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Investors 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 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.