Natixis Has $33.80 Million Holdings in The Progressive Co. (NYSE:PGR)

Natixis boosted its position in The Progressive Co. (NYSE:PGR - Free Report) by 4.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 141,042 shares of the insurance provider's stock after buying an additional 5,697 shares during the quarter. Natixis' holdings in Progressive were worth $33,795,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Versant Capital Management Inc lifted its stake in Progressive by 98.2% during the fourth quarter. Versant Capital Management Inc now owns 789 shares of the insurance provider's stock worth $189,000 after purchasing an additional 391 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in Progressive by 2,262.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 433,999 shares of the insurance provider's stock valued at $103,990,000 after buying an additional 415,628 shares during the last quarter. Signal Advisors Wealth LLC lifted its stake in Progressive by 42.3% in the fourth quarter. Signal Advisors Wealth LLC now owns 11,889 shares of the insurance provider's stock valued at $2,849,000 after buying an additional 3,534 shares during the last quarter. Nordea Investment Management AB boosted its holdings in shares of Progressive by 30.5% during the fourth quarter. Nordea Investment Management AB now owns 1,069,697 shares of the insurance provider's stock valued at $255,882,000 after acquiring an additional 249,958 shares during the period. Finally, Oddo BHF Asset Management Sas acquired a new stake in shares of Progressive in the 3rd quarter worth about $35,253,000. Institutional investors and hedge funds own 85.34% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Keefe, Bruyette & Woods restated a "market perform" rating and issued a $288.00 target price on shares of Progressive in a research report on Thursday, April 17th. Wells Fargo & Company increased their price objective on Progressive from $320.00 to $324.00 and gave the stock an "overweight" rating in a report on Thursday, April 17th. Barclays lifted their target price on Progressive from $285.00 to $297.00 and gave the company an "equal weight" rating in a research note on Friday, April 11th. Bank of America increased their price target on Progressive from $289.00 to $297.00 and gave the stock a "neutral" rating in a research note on Thursday, April 17th. Finally, Roth Mkm lifted their price objective on shares of Progressive from $290.00 to $315.00 and gave the company a "buy" rating in a research note on Tuesday, February 25th. Nine analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $285.76.

Insider Activity

In other news, insider Patrick K. Callahan sold 4,669 shares of the company's stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $279.70, for a total value of $1,305,919.30. Following the transaction, the insider now owns 15,191 shares in the company, valued at $4,248,922.70. This represents a 23.51 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO John P. Sauerland sold 10,000 shares of the firm's stock in a transaction that occurred on Friday, March 28th. The stock was sold at an average price of $275.94, for a total transaction of $2,759,400.00. Following the sale, the chief financial officer now owns 258,024 shares of the company's stock, valued at approximately $71,199,142.56. This represents a 3.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 43,749 shares of company stock worth $11,786,613 over the last quarter. Corporate insiders own 0.33% of the company's stock.

Progressive Trading Up 0.2 %

Shares of Progressive stock traded up $0.53 on Thursday, reaching $265.56. 973,155 shares of the company were exchanged, compared to its average volume of 2,632,559. The company has a current ratio of 0.31, a quick ratio of 0.30 and a debt-to-equity ratio of 0.27. The Progressive Co. has a fifty-two week low of $201.34 and a fifty-two week high of $292.99. The firm has a market capitalization of $155.68 billion, a price-to-earnings ratio of 18.44, a price-to-earnings-growth ratio of 1.70 and a beta of 0.38. The stock has a fifty day moving average price of $274.04 and a 200-day moving average price of $258.02.

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

Progressive Announces Dividend

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

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.