3,625 Shares in The Progressive Co. (NYSE:PGR) Purchased by Kane Investment Management Inc.

Kane Investment Management Inc. acquired a new position in The Progressive Co. (NYSE:PGR - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 3,625 shares of the insurance provider's stock, valued at approximately $869,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Webster Bank N. A. purchased a new stake in Progressive during the fourth quarter valued at approximately $26,000. Hager Investment Management Services LLC purchased a new stake in shares of Progressive in the fourth quarter worth $28,000. Atlantic Edge Private Wealth Management LLC increased its stake 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 buying an additional 41 shares in the last quarter. Valley National Advisers Inc. boosted its stake in shares of Progressive by 3,000.0% in the fourth quarter. Valley National Advisers Inc. now owns 124 shares of the insurance provider's stock worth $29,000 after acquiring an additional 120 shares during the period. Finally, Atala Financial Inc bought a new stake in Progressive during the 4th quarter valued at approximately $32,000. 85.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Barclays boosted 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, April 11th. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and issued a $288.00 price objective on shares of Progressive in a research note on Thursday. Bank of America upped their price target on shares of Progressive from $289.00 to $297.00 and gave the company a "neutral" rating in a research note on Thursday. Roth Mkm lifted their price target on Progressive from $290.00 to $315.00 and gave the stock a "buy" rating in a research report on Tuesday, February 25th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Progressive from $267.00 to $287.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 8th. Nine investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat, Progressive has a consensus rating of "Moderate Buy" and a consensus target price of $285.76.

Insider Activity at Progressive

In other news, CAO Mariann Wojtkun Marshall sold 585 shares of the stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $243.29, for a total value of $142,324.65. Following the transaction, the chief accounting officer now directly owns 3,983 shares of the company's stock, valued at approximately $969,024.07. This represents a 12.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Susan Patricia Griffith sold 11,021 shares of Progressive stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $243.29, for a total value 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. This trade represents a 2.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 56,317 shares of company stock valued at $14,844,282 in the last ninety days. Corporate insiders own 0.34% of the company's stock.

Progressive Stock Down 3.5 %

Shares of NYSE:PGR traded down $9.68 during trading hours on Friday, hitting $265.45. The company's stock had a trading volume of 3,648,773 shares, compared to its average volume of 2,640,852. The company has a market capitalization of $155.62 billion, a price-to-earnings ratio of 18.43, a P/E/G ratio of 1.70 and a beta of 0.38. The firm's fifty day moving average price is $273.76 and its 200 day moving average price is $257.76. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.31 and a quick ratio of 0.30. The Progressive Co. has a 52 week low of $201.34 and a 52 week high of $292.99.

Progressive (NYSE:PGR - Get Free Report) last issued its quarterly earnings data on Wednesday, April 16th. The insurance provider reported $4.65 earnings per share for the quarter, topping analysts' consensus estimates of $4.28 by $0.37. Progressive had a return on equity of 33.79% and a net margin of 11.25%. The firm had revenue of $22.21 billion during the quarter, compared to analysts' expectations of $21.87 billion. As a group, research analysts expect that The Progressive Co. will post 14.68 EPS for the current year.

Progressive Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Thursday, April 3rd were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, April 3rd. This represents a $0.40 annualized dividend and a yield of 0.15%. Progressive's dividend payout ratio (DPR) is 2.70%.

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.