Swedbank AB Has $215.77 Million Holdings in The Progressive Co. (NYSE:PGR)

Swedbank AB boosted its holdings in shares of The Progressive Co. (NYSE:PGR - Free Report) by 51.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 900,486 shares of the insurance provider's stock after purchasing an additional 305,084 shares during the quarter. Swedbank AB owned about 0.15% of Progressive worth $215,765,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the company. Davis Capital Management purchased a new stake in shares of Progressive in the third quarter worth about $25,000. Webster Bank N. A. acquired a new stake in Progressive during the fourth quarter worth $26,000. DiNuzzo Private Wealth Inc. increased its stake in Progressive by 114.1% during the third quarter. DiNuzzo Private Wealth Inc. now owns 137 shares of the insurance provider's stock worth $35,000 after acquiring an additional 73 shares during the last quarter. Kimelman & Baird LLC acquired a new stake in shares of Progressive in the second quarter valued at $36,000. Finally, Friedenthal Financial purchased a new position in Progressive in the third quarter valued at $49,000. Institutional investors own 85.34% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. StockNews.com upgraded Progressive from a "hold" rating to a "buy" rating in a report on Tuesday, November 19th. Wells Fargo & Company boosted their target price on Progressive from $299.00 to $302.00 and gave the stock an "overweight" rating in a report on Monday, December 16th. JPMorgan Chase & Co. boosted their price target on shares of Progressive from $251.00 to $256.00 and gave the company an "overweight" rating in a report on Friday, January 3rd. TD Cowen upped their price objective on shares of Progressive from $197.00 to $237.00 and gave the company a "hold" rating in a research report on Friday, November 8th. Finally, Hsbc Global Res cut shares of Progressive from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, December 10th. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $274.65.

Insider Activity

In other news, insider Andrew J. Quigg sold 681 shares of the business's stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $242.10, for a total value of $164,870.10. Following the transaction, the insider now owns 33,612 shares of the company's stock, valued at approximately $8,137,465.20. The trade was a 1.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Mariann Wojtkun Marshall sold 191 shares of the stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $242.10, for a total transaction of $46,241.10. Following the completion of the sale, the chief accounting officer now directly owns 3,982 shares in the company, valued at approximately $964,042.20. This represents a 4.58 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 42,506 shares of company stock worth $10,531,159. Company insiders own 0.34% of the company's stock.

Progressive Stock Up 0.5 %

Shares of Progressive stock traded up $1.20 during midday trading on Wednesday, hitting $246.25. The company's stock had a trading volume of 3,564,599 shares, compared to its average volume of 2,683,368. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.25. The Progressive Co. has a 1-year low of $175.50 and a 1-year high of $270.62. The stock has a 50-day simple moving average of $247.89 and a 200-day simple moving average of $244.25. The firm has a market capitalization of $144.26 billion, a P/E ratio of 17.90, a PEG ratio of 0.62 and a beta of 0.41.

Progressive (NYSE:PGR - Get Free Report) last announced its earnings results on Wednesday, January 29th. The insurance provider reported $4.08 EPS for the quarter, topping the consensus estimate of $3.44 by $0.64. Progressive had a return on equity of 33.10% and a net margin of 11.27%. As a group, sell-side analysts expect that The Progressive Co. will post 13.51 earnings per share for the current year.

Progressive Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Investors of record on Thursday, January 9th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.16%. The ex-dividend date was Friday, January 10th. Progressive's dividend payout ratio is presently 2.91%.

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.