The Progressive Co. (NYSE:PGR) Holdings Boosted by Kentucky Retirement Systems Insurance Trust Fund

Kentucky Retirement Systems Insurance Trust Fund lifted its position in shares of The Progressive Co. (NYSE:PGR - Free Report) by 12.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,548 shares of the insurance provider's stock after acquiring an additional 2,208 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund's holdings in Progressive were worth $4,684,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of PGR. Webster Bank N. A. purchased a new stake in shares of Progressive during the 4th quarter worth approximately $26,000. Hager Investment Management Services LLC purchased a new stake in Progressive in the 4th quarter valued at approximately $28,000. Atlantic Edge Private Wealth Management LLC lifted its stake 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 valued at $28,000 after buying an additional 41 shares in the last quarter. Valley National Advisers Inc. lifted its stake in Progressive by 3,000.0% in the 4th 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, Independence Bank of Kentucky lifted its stake in Progressive by 1,650.0% in the 4th quarter. Independence Bank of Kentucky now owns 175 shares of the insurance provider's stock valued at $42,000 after buying an additional 165 shares in the last quarter. Hedge funds and other institutional investors own 85.34% of the company's stock.

Progressive Stock Down 0.6 %

Shares of Progressive stock traded down $1.68 during trading hours on Friday, hitting $265.99. 2,567,348 shares of the company's stock traded hands, compared to its average volume of 2,505,890. The stock has a 50 day simple moving average of $246.89 and a 200-day simple moving average of $248.87. 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 company has a market cap of $155.82 billion, a PE ratio of 18.47, a PEG ratio of 0.68 and a beta of 0.42. The Progressive Co. has a twelve month low of $186.94 and a twelve month high of $270.79.

Progressive (NYSE:PGR - Get Free Report) last issued 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 net margin of 11.25% and a return on equity of 33.79%. Equities research analysts anticipate that The Progressive Co. will post 14.5 earnings per share for the current fiscal 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 dividend of $0.10 per share. The ex-dividend date was Friday, January 10th. This represents a $0.40 annualized dividend and a dividend yield of 0.15%. Progressive's payout ratio is 2.78%.

Insider Transactions at Progressive

In other news, CFO John P. Sauerland sold 10,000 shares of the stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $268.09, for a total transaction of $2,680,900.00. Following the transaction, the chief financial officer now owns 292,958 shares of the company's stock, valued at approximately $78,539,110.22. This trade represents a 3.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 transaction, the insider now directly owns 33,612 shares in the company, valued at $8,137,465.20. The trade was a 1.99 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 56,361 shares of company stock valued at $13,983,575. Insiders own 0.34% of the company's stock.

Analyst Upgrades and Downgrades

PGR has been the topic of a number of recent research reports. BMO Capital Markets reduced their target price on Progressive from $273.00 to $267.00 and set an "outperform" rating on the stock in a research note on Monday, December 16th. Hsbc Global Res lowered Progressive from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, December 10th. Wells Fargo & Company upped their target price on Progressive from $313.00 to $317.00 and gave the company an "overweight" rating in a research note on Thursday. Morgan Stanley upped their target price on Progressive from $300.00 to $307.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. Finally, Bank of America upped their target price on Progressive from $331.00 to $335.00 and gave the company a "buy" rating in a research note on Monday, November 18th. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, Progressive has an average rating of "Moderate Buy" and an average price target of $276.12.

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.