Caprock Group LLC Purchases 3,360 Shares of The Progressive Co. (NYSE:PGR)

Caprock Group LLC lifted its position in shares of The Progressive Co. (NYSE:PGR - Free Report) by 23.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,907 shares of the insurance provider's stock after acquiring an additional 3,360 shares during the quarter. Caprock Group LLC's holdings in Progressive were worth $4,291,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. State Street Corp grew its holdings in shares of Progressive by 1.3% during the third quarter. State Street Corp now owns 24,683,807 shares of the insurance provider's stock worth $6,263,763,000 after purchasing an additional 315,411 shares during the last quarter. Geode Capital Management LLC grew its holdings in Progressive by 13.2% during the 3rd quarter. Geode Capital Management LLC now owns 14,425,792 shares of the insurance provider's stock worth $3,652,235,000 after acquiring an additional 1,682,213 shares during the last quarter. FMR LLC grew its holdings in Progressive by 1.6% during the 3rd quarter. FMR LLC now owns 10,518,615 shares of the insurance provider's stock worth $2,669,204,000 after acquiring an additional 170,618 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased 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 valued at $1,286,036,000 after acquiring an additional 330,667 shares during the period. Finally, Jennison Associates LLC raised its stake in shares of Progressive by 21.6% during the third quarter. Jennison Associates LLC now owns 4,749,628 shares of the insurance provider's stock valued at $1,205,266,000 after acquiring an additional 842,109 shares during the last quarter. Institutional investors and hedge funds own 85.34% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Morgan Stanley upped their price target on Progressive from $300.00 to $307.00 and gave the company an "overweight" rating in a research report on Friday. Evercore ISI increased their target price on shares of Progressive from $277.00 to $285.00 and gave the company an "outperform" rating in a research report on Wednesday, November 6th. HSBC downgraded shares of Progressive from a "buy" rating to a "hold" rating and set a $267.00 price target on the stock. in a research report on Tuesday, December 10th. Hsbc Global Res cut shares of Progressive from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, December 10th. Finally, Wells Fargo & Company boosted their target price on shares of Progressive from $302.00 to $313.00 and gave the company an "overweight" rating in a report on Thursday. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $275.71.

Insiders Place Their Bets

In other Progressive news, CAO Mariann Wojtkun Marshall sold 191 shares of Progressive stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $242.10, for a total value of $46,241.10. Following the completion of the sale, the chief accounting officer now owns 3,982 shares of the company's stock, valued at approximately $964,042.20. This trade represents a 4.58 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO John P. Sauerland sold 10,000 shares of the stock in a transaction on Monday, December 30th. The shares were sold at an average price of $238.66, for a total value of $2,386,600.00. Following the sale, the chief financial officer now directly owns 282,958 shares in the company, valued at $67,530,756.28. This trade represents a 3.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 56,361 shares of company stock valued at $13,983,575. Insiders own 0.34% of the company's stock.

Progressive Stock Down 1.0 %

Shares of NYSE:PGR traded down $2.44 during trading on Friday, hitting $246.78. The stock had a trading volume of 3,047,487 shares, compared to its average volume of 2,415,087. 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 company has a market capitalization of $144.57 billion, a PE ratio of 17.14, a PEG ratio of 0.64 and a beta of 0.41. The firm's fifty day moving average is $247.01 and its 200 day moving average is $244.75. 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 posted its quarterly earnings data on Wednesday, January 29th. The insurance provider reported $4.08 earnings per share for the quarter, beating analysts' consensus estimates of $3.44 by $0.64. Progressive had a return on equity of 34.32% and a net margin of 11.25%. Analysts anticipate that The Progressive Co. will post 14.03 EPS for the current fiscal year.

Progressive Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Thursday, January 9th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, January 10th. This represents a $0.40 dividend on an annualized basis and a yield of 0.16%. Progressive's dividend payout ratio is currently 2.78%.

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.