The Progressive Co. (NYSE:PGR) Shares Bought by Jump Financial LLC

Jump Financial LLC lifted its position in The Progressive Co. (NYSE:PGR - Free Report) by 16.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 86,076 shares of the insurance provider's stock after purchasing an additional 12,351 shares during the quarter. Jump Financial LLC's holdings in Progressive were worth $20,625,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of PGR. Webster Bank N. A. purchased a new position in Progressive during the fourth quarter valued at approximately $26,000. Hager Investment Management Services LLC acquired a new position in shares of Progressive in the 4th quarter valued at $28,000. Atlantic Edge Private Wealth Management LLC boosted its holdings in Progressive by 54.7% during the fourth 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 in the last quarter. Valley National Advisers Inc. increased its holdings in Progressive by 3,000.0% in the fourth quarter. Valley National Advisers Inc. now owns 124 shares of the insurance provider's stock valued at $29,000 after buying an additional 120 shares in the last quarter. Finally, Atala Financial Inc purchased a new position in Progressive in the fourth quarter valued at $32,000. Institutional investors and hedge funds own 85.34% of the company's stock.

Progressive Trading Down 3.5 %

Shares of PGR traded down $9.68 during midday trading on Friday, reaching $265.45. The company had a trading volume of 3,648,773 shares, compared to its average volume of 2,636,730. The firm has a 50 day simple moving average of $273.91 and a 200-day simple moving average of $257.86. The company has a quick ratio of 0.30, a current ratio of 0.31 and a debt-to-equity ratio of 0.27. The stock has a market cap of $155.62 billion, a PE ratio of 18.43, a price-to-earnings-growth ratio of 1.70 and a beta of 0.38. The Progressive Co. has a 1-year low of $201.34 and a 1-year high of $292.99.

Progressive (NYSE:PGR - Get Free Report) last posted its earnings results on Wednesday, April 16th. The insurance provider reported $4.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.28 by $0.37. The company had revenue of $22.21 billion during the quarter, compared to analysts' expectations of $21.87 billion. Progressive had a return on equity of 33.79% and a net margin of 11.25%. Research analysts forecast that The Progressive Co. will post 14.68 EPS for the current fiscal year.

Progressive Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Thursday, April 3rd were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.15%. The ex-dividend date of this dividend was Thursday, April 3rd. Progressive's dividend payout ratio (DPR) is presently 2.70%.

Insider Buying and Selling at Progressive

In related news, CEO Susan Patricia Griffith sold 11,021 shares of the stock in a transaction dated 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 transaction, the chief executive officer now owns 473,736 shares of the company's stock, valued at approximately $115,255,231.44. This represents a 2.27 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Andrew J. Quigg sold 962 shares of the firm's stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $243.29, for a total value of $234,044.98. Following the transaction, the insider now owns 34,787 shares of the company's stock, valued at $8,463,329.23. This trade represents a 2.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 56,317 shares of company stock worth $14,844,282 over the last three months. Insiders own 0.34% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Jefferies Financial Group dropped their target price on Progressive from $327.00 to $319.00 and set a "buy" rating on the stock in a research report on Friday, April 11th. Wells Fargo & Company boosted their price objective on Progressive from $320.00 to $324.00 and gave the company an "overweight" rating in a research report on Thursday. Roth Mkm increased their target price on Progressive from $290.00 to $315.00 and gave the company a "buy" rating in a research report on Tuesday, February 25th. Keefe, Bruyette & Woods reissued a "market perform" rating and issued a $288.00 price target on shares of Progressive in a report on Thursday. Finally, Raymond James raised shares of Progressive from a "market perform" rating to an "outperform" rating and set a $305.00 price objective on the stock in a report on Thursday, December 26th. Nine research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $285.76.

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.