Quantbot Technologies LP Raises Holdings in The Progressive Co. (NYSE:PGR)

Quantbot Technologies LP lifted its holdings in The Progressive Co. (NYSE:PGR - Free Report) by 116.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 64,908 shares of the insurance provider's stock after purchasing an additional 34,897 shares during the period. Progressive comprises about 0.6% of Quantbot Technologies LP's portfolio, making the stock its 12th largest holding. Quantbot Technologies LP's holdings in Progressive were worth $15,553,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of PGR. Atlantic Edge Private Wealth Management LLC boosted its holdings 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 during the last quarter. LRI Investments LLC boosted its holdings in Progressive by 16.5% in the 3rd quarter. LRI Investments LLC now owns 296 shares of the insurance provider's stock worth $76,000 after buying an additional 42 shares during the last quarter. Washington Trust Bank boosted its holdings in Progressive by 4.1% in the 4th quarter. Washington Trust Bank now owns 1,066 shares of the insurance provider's stock worth $255,000 after buying an additional 42 shares during the last quarter. SYM FINANCIAL Corp boosted its holdings in Progressive by 2.8% in the 4th quarter. SYM FINANCIAL Corp now owns 1,602 shares of the insurance provider's stock worth $384,000 after buying an additional 44 shares during the last quarter. Finally, Monument Capital Management boosted its holdings in shares of Progressive by 0.3% during the 4th quarter. Monument Capital Management now owns 13,762 shares of the insurance provider's stock worth $3,298,000 after purchasing an additional 44 shares during the last quarter. Hedge funds and other institutional investors own 85.34% of the company's stock.

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Wall Street Analysts Forecast Growth

PGR has been the topic of several recent research reports. JPMorgan Chase & Co. upped their price objective on Progressive from $251.00 to $256.00 and gave the company an "overweight" rating in a report on Friday, January 3rd. BMO Capital Markets decreased their price objective on Progressive from $273.00 to $267.00 and set an "outperform" rating on the stock in a report on Monday, December 16th. HSBC cut Progressive from a "buy" rating to a "hold" rating and set a $267.00 price objective on the stock. in a report on Tuesday, December 10th. Barclays upped their price objective on Progressive from $264.00 to $285.00 and gave the company an "equal weight" rating in a report on Thursday. Finally, Wells Fargo & Company upped their price objective on Progressive from $313.00 to $317.00 and gave the company an "overweight" rating in a report on Thursday, February 20th. Seven investment 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 company has an average rating of "Moderate Buy" and a consensus price target of $281.76.

Insider Buying and Selling at Progressive

In other news, CFO John P. Sauerland sold 10,000 shares of the stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $238.66, for a total transaction 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. This represents a 3.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Andrew J. Quigg sold 681 shares of the stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $242.10, for a total transaction of $164,870.10. Following the sale, the insider now owns 33,612 shares of the company's stock, valued at $8,137,465.20. This trade represents a 1.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 62,257 shares of company stock worth $15,752,781 over the last 90 days. Corporate insiders own 0.34% of the company's stock.

Progressive Stock Up 1.6 %

NYSE:PGR traded up $4.47 during trading hours on Friday, hitting $283.87. The company's stock had a trading volume of 2,223,359 shares, compared to its average volume of 2,388,837. The stock has a market capitalization of $166.41 billion, a P/E ratio of 19.71, a price-to-earnings-growth ratio of 1.70 and a beta of 0.35. The stock has a fifty day moving average of $258.14 and a 200-day moving average of $254.03. 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 52-week low of $201.34 and a 52-week high of $287.49.

Progressive (NYSE:PGR - Get Free Report) last posted its earnings results 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%. On average, equities analysts forecast that The Progressive Co. will post 14.68 earnings per share for the current year.

Progressive Dividend Announcement

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

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.