J2 Capital Management Inc Acquires Shares of 1,535 The Progressive Co. (NYSE:PGR)

J2 Capital Management Inc acquired a new position in shares of The Progressive Co. (NYSE:PGR - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,535 shares of the insurance provider's stock, valued at approximately $368,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. State Street Corp lifted its position in Progressive by 1.3% during the third quarter. State Street Corp now owns 24,683,807 shares of the insurance provider's stock worth $6,263,763,000 after buying an additional 315,411 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of 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 acquiring an additional 1,682,213 shares during the period. FMR LLC boosted its position in shares of Progressive by 1.6% during the 3rd quarter. FMR LLC now owns 10,518,615 shares of the insurance provider's stock valued at $2,669,204,000 after acquiring an additional 170,618 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew 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 during the period. Finally, Legal & General Group Plc increased its position in Progressive by 1.9% during the second quarter. Legal & General Group Plc now owns 4,922,743 shares of the insurance provider's stock worth $1,022,507,000 after purchasing an additional 92,212 shares during the last quarter. 85.34% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Progressive

In other Progressive news, CFO John P. Sauerland sold 10,000 shares of the business'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 sale, the chief financial officer now owns 282,958 shares in the company, valued at approximately $67,530,756.28. The trade was a 3.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Steven Broz sold 2,981 shares of the firm's stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $251.15, for a total transaction of $748,678.15. Following the transaction, the insider now owns 26,353 shares in the company, valued at approximately $6,618,555.95. This trade represents a 10.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 32,919 shares of company stock worth $8,222,168 over the last three months. Insiders own 0.34% of the company's stock.

Progressive Stock Down 0.7 %

Shares of Progressive stock traded down $1.75 during trading on Friday, hitting $243.79. 1,967,879 shares of the stock were exchanged, compared to its average volume of 2,000,825. The stock has a market cap of $142.82 billion, a price-to-earnings ratio of 17.72, a price-to-earnings-growth ratio of 0.61 and a beta of 0.41. The firm's 50-day moving average price is $250.18 and its 200 day moving average price is $242.49. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.30 and a quick ratio of 0.30. The Progressive Co. has a 12-month low of $166.92 and a 12-month high of $270.62.

Progressive Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Investors of record on Thursday, January 9th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.16%. The ex-dividend date was Friday, January 10th. Progressive's dividend payout ratio (DPR) is 2.91%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PGR. Keefe, Bruyette & Woods dropped their price target on shares of Progressive from $295.00 to $294.00 and set an "outperform" rating for the company in a research note on Friday, January 10th. Jefferies Financial Group raised their target price on Progressive from $257.00 to $295.00 and gave the stock a "buy" rating in a research note on Wednesday, October 9th. TD Cowen upped their price target on Progressive from $197.00 to $237.00 and gave the company a "hold" rating in a research note on Friday, November 8th. StockNews.com raised shares of Progressive from a "hold" rating to a "buy" rating in a research report on Tuesday, November 19th. Finally, Morgan Stanley reissued an "overweight" rating and issued a $310.00 target price on shares of Progressive in a research report on Friday, December 13th. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $275.24.

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.