The Progressive Co. (NYSE:PGR) Stock Holdings Increased by APG Asset Management N.V.

APG Asset Management N.V. boosted its holdings in The Progressive Co. (NYSE:PGR - Free Report) by 139.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 502,013 shares of the insurance provider's stock after acquiring an additional 292,653 shares during the period. APG Asset Management N.V. owned 0.09% of Progressive worth $116,164,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in PGR. Versant Capital Management Inc increased its position in Progressive by 98.2% during the 4th quarter. Versant Capital Management Inc now owns 789 shares of the insurance provider's stock worth $189,000 after purchasing an additional 391 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Progressive by 2,262.4% during the fourth 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. Signal Advisors Wealth LLC grew its holdings in shares of Progressive by 42.3% during the fourth quarter. Signal Advisors Wealth LLC now owns 11,889 shares of the insurance provider's stock worth $2,849,000 after buying an additional 3,534 shares in the last quarter. Nordea Investment Management AB lifted its stake 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 buying an additional 249,958 shares during the period. Finally, Oddo BHF Asset Management Sas acquired a new stake in Progressive during the third quarter worth approximately $35,253,000. 85.34% of the stock is currently owned by hedge funds and other institutional investors.

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Wall Street Analysts Forecast Growth

Several research analysts have weighed in on PGR shares. Jefferies Financial Group cut their price target on Progressive from $327.00 to $319.00 and set a "buy" rating for the company in a report on Friday. Keefe, Bruyette & Woods reduced their target price on Progressive from $300.00 to $288.00 and set an "outperform" rating on the stock in a research report on Wednesday. Barclays raised their price target on Progressive from $285.00 to $297.00 and gave the stock an "equal weight" rating in a research note on Friday. Wells Fargo & Company upped their price objective on shares of Progressive from $317.00 to $320.00 and gave the company an "overweight" rating in a research note on Thursday. Finally, Raymond James raised shares of Progressive from a "market perform" rating to an "outperform" rating and set a $305.00 target price on the stock in a research report on Thursday, December 26th. Eight research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $283.71.

Progressive Stock Up 1.0 %

NYSE:PGR traded up $2.60 during mid-day trading on Friday, hitting $275.78. The company had a trading volume of 3,052,599 shares, compared to its average volume of 2,657,216. The Progressive Co. has a 1 year low of $201.34 and a 1 year high of $292.99. The business has a fifty day simple moving average of $271.85 and a 200-day simple moving average of $257.20. 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 firm has a market capitalization of $161.67 billion, a price-to-earnings ratio of 19.15, a PEG ratio of 1.70 and a beta of 0.38.

Progressive (NYSE:PGR - Get Free Report) last released its quarterly 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 33.79% and a net margin of 11.25%. Equities analysts forecast that The Progressive Co. will post 14.68 earnings per share for the current fiscal year.

Progressive Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Thursday, April 3rd were paid a $0.10 dividend. The ex-dividend date of this dividend was Thursday, April 3rd. This represents a $0.40 annualized dividend and a dividend yield of 0.15%. Progressive's dividend payout ratio (DPR) is presently 2.78%.

Insider Activity at Progressive

In other Progressive news, CEO Susan Patricia Griffith sold 11,021 shares of the firm's stock in a transaction that occurred on Wednesday, January 22nd. The stock was 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 in the company, valued at $115,255,231.44. This trade represents a 2.27 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Andrew J. Quigg sold 962 shares of Progressive stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $243.29, for a total value of $234,044.98. Following the sale, the insider now owns 34,787 shares in the company, valued at $8,463,329.23. This represents a 2.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 56,317 shares of company stock valued at $14,844,282. Corporate insiders own 0.34% of the company's stock.

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.