National Bank of Canada FI Has $217.75 Million Stake in The Progressive Co. (NYSE:PGR)

National Bank of Canada FI increased its holdings in shares of The Progressive Co. (NYSE:PGR - Free Report) by 39.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 908,764 shares of the insurance provider's stock after buying an additional 258,762 shares during the period. National Bank of Canada FI owned 0.16% of Progressive worth $217,753,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Webster Bank N. A. bought a new stake in shares of Progressive in the 4th quarter valued at about $26,000. Hager Investment Management Services LLC acquired a new position in Progressive during the fourth quarter valued at approximately $28,000. Atlantic Edge Private Wealth Management LLC increased its stake in Progressive by 54.7% in the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 116 shares of the insurance provider's stock valued at $28,000 after purchasing an additional 41 shares in the last quarter. Valley National Advisers Inc. raised its holdings in 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 purchasing an additional 120 shares during the period. Finally, Atala Financial Inc bought a new position in shares of Progressive during the fourth quarter worth $32,000. 85.34% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Progressive news, CAO Mariann Wojtkun Marshall sold 191 shares of the stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $242.10, for a total value of $46,241.10. Following the transaction, the chief accounting officer now directly owns 3,982 shares of the company's stock, valued at $964,042.20. This represents a 4.58 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Andrew J. Quigg sold 681 shares of the business's stock in a transaction that occurred 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 sale, the insider now owns 33,612 shares of the company's stock, valued at approximately $8,137,465.20. This represents a 1.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 66,255 shares of company stock valued at $17,250,271 over the last 90 days. 0.33% of the stock is currently owned by insiders.

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Progressive Stock Up 2.0 %

NYSE PGR traded up $5.55 during trading hours on Thursday, hitting $286.78. 3,830,895 shares of the company traded hands, compared to its average volume of 2,596,582. The stock has a market capitalization of $168.12 billion, a price-to-earnings ratio of 19.92, a P/E/G ratio of 1.70 and a beta of 0.38. The Progressive Co. has a twelve month low of $201.34 and a twelve month high of $292.99. The business's 50-day moving average is $267.83 and its 200-day moving average is $256.52. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.30 and a current ratio of 0.31.

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

Progressive Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Thursday, April 3rd will be paid a dividend of $0.10 per share. The ex-dividend date is Thursday, April 3rd. This represents a $0.40 annualized dividend and a dividend yield of 0.14%. Progressive's dividend payout ratio is presently 2.78%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on PGR shares. Bank of America dropped their price objective on Progressive from $318.00 to $300.00 and set a "buy" rating on the stock in a research note on Thursday, March 20th. Keefe, Bruyette & Woods raised their price target on Progressive from $294.00 to $300.00 and gave the stock an "outperform" rating in a research report on Thursday, March 20th. UBS Group boosted their price objective on Progressive from $275.00 to $285.00 and gave the company a "neutral" rating in a research report on Friday, March 14th. JPMorgan Chase & Co. raised their target price on shares of Progressive from $251.00 to $256.00 and gave the stock an "overweight" rating in a report on Friday, January 3rd. Finally, Barclays lifted their price target on shares of Progressive from $264.00 to $285.00 and gave the company an "equal weight" rating in a research note on Thursday, March 13th. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $281.06.

Progressive Company 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.