iA Global Asset Management Inc. Has $4.04 Million Stake in The Progressive Co. (NYSE:PGR)

iA Global Asset Management Inc. lifted its stake in The Progressive Co. (NYSE:PGR - Free Report) by 11.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,863 shares of the insurance provider's stock after acquiring an additional 1,677 shares during the quarter. iA Global Asset Management Inc.'s holdings in Progressive were worth $4,041,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. AMG National Trust Bank acquired a new position in shares of Progressive during the 3rd quarter valued at about $203,000. Avior Wealth Management LLC lifted its stake in shares of 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 buying an additional 96 shares during the last quarter. Advisors Asset Management Inc. grew its stake in Progressive by 29.8% in the 3rd quarter. Advisors Asset Management Inc. now owns 15,240 shares of the insurance provider's stock valued at $3,867,000 after buying an additional 3,498 shares during the last quarter. Darwin Wealth Management LLC acquired a new position in Progressive in the 3rd quarter valued at $163,000. Finally, Moors & Cabot Inc. boosted its holdings in Progressive by 168.9% during the third quarter. Moors & Cabot Inc. now owns 3,848 shares of the insurance provider's stock valued at $976,000 after acquiring an additional 2,417 shares during the period. 85.34% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Progressive

In other Progressive news, CEO Susan Patricia Griffith sold 11,021 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 transaction of $2,681,299.09. Following the sale, the chief executive officer now directly owns 473,736 shares of the company's stock, valued at $115,255,231.44. The trade was a 2.27 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Carl G. Joyce sold 360 shares of the company's stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $276.17, for a total value of $99,421.20. Following the completion of the sale, the chief accounting officer now owns 655 shares in the company, valued at $180,891.35. This trade represents a 35.47 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 65,855 shares of company stock valued at $16,767,455. 0.34% of the stock is currently owned by corporate insiders.

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Progressive Stock Up 0.2 %

NYSE PGR traded up $0.57 on Tuesday, reaching $274.57. The company had a trading volume of 2,911,344 shares, compared to its average volume of 2,431,730. 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 firm has a market capitalization of $160.96 billion, a price-to-earnings ratio of 19.07, a price-to-earnings-growth ratio of 1.70 and a beta of 0.35. The Progressive Co. has a 1-year low of $201.34 and a 1-year high of $292.99. The company's fifty day moving average is $262.72 and its 200-day moving average is $255.19.

Progressive (NYSE:PGR - Get Free Report) last released its quarterly earnings data on Wednesday, January 29th. The insurance provider reported $4.08 earnings per share 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%. On average, research analysts forecast 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 will be paid on Friday, April 11th. Shareholders of record on Thursday, April 3rd will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.15%. The ex-dividend date is Thursday, April 3rd. Progressive's payout ratio is 2.78%.

Analyst Ratings Changes

PGR has been the subject of a number of research analyst reports. JPMorgan Chase & Co. upped their price target on Progressive from $251.00 to $256.00 and gave the stock an "overweight" rating in a report on Friday, January 3rd. Hsbc Global Res downgraded shares of Progressive from a "strong-buy" rating to a "hold" rating in a report on Tuesday, December 10th. HSBC cut shares of Progressive from a "buy" rating to a "hold" rating and set a $267.00 target price for the company. in a research note on Tuesday, December 10th. Wells Fargo & Company raised their price objective on Progressive from $313.00 to $317.00 and gave the stock an "overweight" rating in a research report on Thursday, February 20th. Finally, Barclays boosted their price target on shares of Progressive from $264.00 to $285.00 and gave the company an "equal weight" rating in a report on Thursday, March 13th. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $281.06.

About Progressive

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.