Robeco Institutional Asset Management B.V. Cuts Holdings in The Progressive Co. (NYSE:PGR)

Robeco Institutional Asset Management B.V. trimmed its holdings in The Progressive Co. (NYSE:PGR - Free Report) by 3.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 292,007 shares of the insurance provider's stock after selling 9,910 shares during the quarter. Robeco Institutional Asset Management B.V.'s holdings in Progressive were worth $69,968,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also added to or reduced their stakes in PGR. Versant Capital Management Inc grew its holdings in shares of Progressive by 98.2% during the fourth quarter. Versant Capital Management Inc now owns 789 shares of the insurance provider's stock valued at $189,000 after buying an additional 391 shares during the last quarter. Townsquare Capital LLC raised its holdings in shares of Progressive by 90.9% in the third quarter. Townsquare Capital LLC now owns 7,813 shares of the insurance provider's stock valued at $1,983,000 after purchasing an additional 3,720 shares during the last quarter. Diversified Trust Co lifted its position in shares of Progressive by 84.3% during the third quarter. Diversified Trust Co now owns 25,738 shares of the insurance provider's stock valued at $6,531,000 after purchasing an additional 11,770 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Progressive by 7.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,067,924 shares of the insurance provider's stock worth $1,286,036,000 after purchasing an additional 330,667 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in shares of Progressive by 2,262.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 433,999 shares of the insurance provider's stock worth $103,990,000 after buying an additional 415,628 shares in the last quarter. Institutional investors and hedge funds own 85.34% of the company's stock.

Progressive Price Performance

PGR traded up $2.80 during trading on Thursday, reaching $249.20. 2,374,341 shares of the company traded hands, compared to its average volume of 2,667,077. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.30 and a current ratio of 0.30. The company has a market cap of $145.98 billion, a P/E ratio of 18.11, a PEG ratio of 0.62 and a beta of 0.41. The firm has a fifty day simple moving average of $247.67 and a 200 day simple moving average of $244.27. The Progressive Co. has a 12-month low of $176.37 and a 12-month high of $270.62.

Progressive (NYSE:PGR - Get Free Report) last issued its quarterly earnings results on Wednesday, January 29th. The insurance provider reported $4.08 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.44 by $0.64. Progressive had a return on equity of 33.10% and a net margin of 11.27%. On average, equities analysts forecast that The Progressive Co. will post 13.51 EPS for the current year.

Progressive Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Thursday, January 9th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.16%. The ex-dividend date was Friday, January 10th. Progressive's payout ratio is 2.91%.

Insider Activity

In related news, CFO John P. Sauerland sold 10,000 shares of the stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $238.66, for a total value of $2,386,600.00. Following the completion of the sale, the chief financial officer now owns 282,958 shares of the company's stock, valued at approximately $67,530,756.28. This trade represents a 3.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Susan Patricia Griffith sold 9,066 shares of the business's stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $242.10, for a total transaction of $2,194,878.60. Following the completion of the transaction, the chief executive officer now owns 473,736 shares in the company, valued at $114,691,485.60. The trade was a 1.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 52,506 shares of company stock worth $13,031,159. Corporate insiders own 0.34% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on PGR. Evercore ISI increased their price target on Progressive from $277.00 to $285.00 and gave the company an "outperform" rating in a research report on Wednesday, November 6th. TD Cowen lifted their target price on Progressive from $197.00 to $237.00 and gave the stock a "hold" rating in a research note on Friday, November 8th. BMO Capital Markets decreased their target price on Progressive from $273.00 to $267.00 and set an "outperform" rating for the company in a research report on Monday, December 16th. HSBC downgraded Progressive from a "buy" rating to a "hold" rating and set a $267.00 price target for the company. in a research note on Tuesday, December 10th. Finally, Barclays dropped their price objective on Progressive from $277.00 to $261.00 and set an "equal weight" rating for the company in a research note on Monday, January 6th. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, Progressive presently has a consensus rating of "Moderate Buy" and an average target price of $275.29.

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.