Glenview Trust co increased its position in shares of The Progressive Co. (NYSE:PGR - Free Report) by 32.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,299 shares of the insurance provider's stock after acquiring an additional 2,980 shares during the quarter. Glenview Trust co's holdings in Progressive were worth $2,947,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Versant Capital Management Inc boosted its holdings in Progressive by 98.2% in the fourth quarter. Versant Capital Management Inc now owns 789 shares of the insurance provider's stock worth $189,000 after acquiring an additional 391 shares in the last quarter. Townsquare Capital LLC boosted its stake in Progressive by 90.9% in the 3rd quarter. Townsquare Capital LLC now owns 7,813 shares of the insurance provider's stock worth $1,983,000 after purchasing an additional 3,720 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Progressive by 7.0% during 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 worth $1,286,036,000 after purchasing an additional 330,667 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in Progressive by 2,262.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 433,999 shares of the insurance provider's stock valued at $103,990,000 after purchasing an additional 415,628 shares in the last quarter. Finally, Signal Advisors Wealth LLC raised its holdings in shares of Progressive by 42.3% in 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 during the last quarter. Hedge funds and other institutional investors own 85.34% of the company's stock.
Insider Activity
In other news, insider Andrew J. Quigg sold 681 shares of the firm's stock in a transaction that occurred on Friday, January 3rd. The stock was 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 in the company, valued at $8,137,465.20. This trade represents a 1.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO John P. Sauerland sold 10,000 shares of Progressive stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $238.66, for a total value of $2,386,600.00. Following the completion of the sale, the chief financial officer now directly owns 282,958 shares in the company, valued at $67,530,756.28. This represents a 3.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 62,257 shares of company stock worth $15,752,781 over the last 90 days. 0.34% of the stock is currently owned by company insiders.
Progressive Price Performance
Shares of Progressive stock traded up $8.00 on Monday, hitting $291.69. The company's stock had a trading volume of 3,454,385 shares, compared to its average volume of 2,379,282. The company has a market capitalization of $170.99 billion, a price-to-earnings ratio of 20.26, a price-to-earnings-growth ratio of 1.70 and a beta of 0.35. The firm has a fifty day moving average price of $258.14 and a 200-day moving average price of $254.07. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.30 and a current ratio of 0.31. The Progressive Co. has a 1 year low of $201.34 and a 1 year high of $291.40.
Progressive (NYSE:PGR - Get Free Report) last posted its quarterly earnings data on Wednesday, January 29th. The insurance provider reported $4.08 EPS for the quarter, beating analysts' consensus estimates of $3.44 by $0.64. Progressive had a return on equity of 33.79% and a net margin of 11.25%. As a group, sell-side analysts anticipate that The Progressive Co. will post 14.68 earnings per share for the current fiscal year.
Progressive Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Thursday, April 3rd will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.14%. The ex-dividend date is Thursday, April 3rd. Progressive's payout ratio is 2.78%.
Analyst Upgrades and Downgrades
PGR has been the topic of a number of research analyst reports. Morgan Stanley boosted their price objective on shares of Progressive from $300.00 to $307.00 and gave the company an "overweight" rating in a report on Friday, January 31st. UBS Group boosted their price target on Progressive from $275.00 to $285.00 and gave the company a "neutral" rating in a research note on Friday. StockNews.com cut Progressive from a "buy" rating to a "hold" rating in a research note on Friday. Keefe, Bruyette & Woods cut their price target on shares of Progressive from $295.00 to $294.00 and set an "outperform" rating on the stock in a report on Friday, January 10th. Finally, Raymond James raised shares of Progressive from a "market perform" rating to an "outperform" rating and set a $305.00 price target for the company in a research report on Thursday, December 26th. Seven equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $281.76.
Check Out Our Latest Report on PGR
About Progressive
(
Free Report)
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.
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