Quantbot Technologies LP boosted its position in The Progressive Co. (NYSE:PGR - Free Report) by 116.3% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 64,908 shares of the insurance provider's stock after acquiring an additional 34,897 shares during the period. Progressive comprises approximately 0.6% of Quantbot Technologies LP's holdings, making the stock its 12th biggest holding. Quantbot Technologies LP's holdings in Progressive were worth $15,553,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sciencast Management LP grew its stake in shares of Progressive by 13.9% during the 4th quarter. Sciencast Management LP now owns 12,617 shares of the insurance provider's stock valued at $3,023,000 after buying an additional 1,543 shares during the period. Washington Trust Bank grew its stake in shares of Progressive by 4.1% during the 4th quarter. Washington Trust Bank now owns 1,066 shares of the insurance provider's stock valued at $255,000 after buying an additional 42 shares during the period. TD Private Client Wealth LLC grew its stake in shares of Progressive by 3.3% during the 4th quarter. TD Private Client Wealth LLC now owns 10,794 shares of the insurance provider's stock valued at $2,586,000 after buying an additional 343 shares during the period. Whittier Trust Co. of Nevada Inc. grew its stake in shares of Progressive by 2,169.7% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 14,322 shares of the insurance provider's stock valued at $3,432,000 after buying an additional 13,691 shares during the period. Finally, Douglass Winthrop Advisors LLC grew its stake in shares of Progressive by 163.9% during the 4th quarter. Douglass Winthrop Advisors LLC now owns 3,220 shares of the insurance provider's stock valued at $772,000 after buying an additional 2,000 shares during the period. 85.34% of the stock is owned by hedge funds and other institutional investors.
Insider Activity at Progressive
In related news, CEO Susan Patricia Griffith sold 11,021 shares of the business's stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 473,736 shares of the company's stock, valued at $115,255,231.44. This represents a 2.27 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Mariann Wojtkun Marshall sold 191 shares of the company's stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $242.10, for a total transaction of $46,241.10. Following the completion of the transaction, the chief accounting officer now owns 3,982 shares of the company's stock, valued at approximately $964,042.20. This trade represents a 4.58 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 62,257 shares of company stock valued at $15,752,781 in the last quarter. Insiders own 0.34% of the company's stock.
Progressive Stock Up 1.6 %
Shares of PGR traded up $4.47 during midday trading on Friday, hitting $283.87. The company had a trading volume of 2,223,359 shares, compared to its average volume of 2,388,837. The company's 50 day moving average price is $258.14 and its 200 day moving average price is $254.03. The stock has a market cap of $166.41 billion, a price-to-earnings ratio of 19.71, a PEG ratio of 1.70 and a beta of 0.35. The Progressive Co. has a 52 week low of $201.34 and a 52 week high of $287.49. The company has a quick ratio of 0.30, a current ratio of 0.31 and a debt-to-equity ratio of 0.27.
Progressive (NYSE:PGR - Get Free Report) last released its earnings results 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, equities research analysts predict that The Progressive Co. will post 14.68 EPS for the current year.
Progressive Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Thursday, April 3rd will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.14%. The ex-dividend date of this dividend is Thursday, April 3rd. Progressive's dividend payout ratio is presently 2.78%.
Analyst Upgrades and Downgrades
Several equities analysts recently weighed in on the stock. Keefe, Bruyette & Woods reduced their target price on shares of Progressive from $295.00 to $294.00 and set an "outperform" rating on the stock in a report on Friday, January 10th. Raymond James upgraded shares of Progressive from a "market perform" rating to an "outperform" rating and set a $305.00 target price on the stock in a report on Thursday, December 26th. UBS Group lifted their target price on shares of Progressive from $275.00 to $285.00 and gave the company a "neutral" rating in a report on Friday. Roth Mkm lifted their target price on shares of Progressive from $290.00 to $315.00 and gave the company a "buy" rating in a report on Tuesday, February 25th. Finally, Bank of America reduced their target price on shares of Progressive from $333.00 to $318.00 and set a "buy" rating on the stock in a report on Monday, March 10th. Seven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $281.76.
View Our Latest Research Report on PGR
Progressive Company Profile
(
Free Report)
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.
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