O Shaughnessy Asset Management LLC Grows Holdings in The Progressive Co. (NYSE:PGR)

O Shaughnessy Asset Management LLC boosted its holdings in The Progressive Co. (NYSE:PGR - Free Report) by 8.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 67,919 shares of the insurance provider's stock after buying an additional 5,229 shares during the period. O Shaughnessy Asset Management LLC's holdings in Progressive were worth $16,274,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Atlantic Edge Private Wealth Management LLC boosted its holdings in shares of Progressive by 54.7% in the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 116 shares of the insurance provider's stock worth $28,000 after acquiring an additional 41 shares during the period. LRI Investments LLC boosted its stake in Progressive by 16.5% in the 3rd quarter. LRI Investments LLC now owns 296 shares of the insurance provider's stock worth $76,000 after purchasing an additional 42 shares during the period. Washington Trust Bank grew its holdings in Progressive by 4.1% during the 4th quarter. Washington Trust Bank now owns 1,066 shares of the insurance provider's stock valued at $255,000 after buying an additional 42 shares in the last quarter. SYM FINANCIAL Corp grew its holdings in Progressive by 2.8% during the 4th quarter. SYM FINANCIAL Corp now owns 1,602 shares of the insurance provider's stock valued at $384,000 after buying an additional 44 shares in the last quarter. Finally, Monument Capital Management lifted its holdings in shares of Progressive by 0.3% in the fourth quarter. Monument Capital Management now owns 13,762 shares of the insurance provider's stock worth $3,298,000 after buying an additional 44 shares in the last quarter. Institutional investors own 85.34% of the company's stock.

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Analysts Set New Price Targets

Several brokerages recently commented on PGR. JPMorgan Chase & Co. boosted their price objective on shares of Progressive from $251.00 to $256.00 and gave the company an "overweight" rating in a research note on Friday, January 3rd. UBS Group boosted their price target on shares of Progressive from $275.00 to $285.00 and gave the company a "neutral" rating in a research report on Friday, March 14th. Roth Mkm increased their price objective on Progressive from $290.00 to $315.00 and gave the stock a "buy" rating in a research report on Tuesday, February 25th. BMO Capital Markets reduced their target price on Progressive from $273.00 to $267.00 and set an "outperform" rating for the company in a research report on Monday, December 16th. Finally, Bank of America lowered their price target on Progressive from $318.00 to $300.00 and set a "buy" rating on the stock in a report on Thursday, March 20th. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, Progressive currently has a consensus rating of "Moderate Buy" and a consensus target price of $281.06.

Insider Transactions at Progressive

In other Progressive news, CEO Susan Patricia Griffith sold 11,021 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 transaction of $2,681,299.09. Following the sale, the chief executive officer now directly owns 473,736 shares of the company's stock, valued at approximately $115,255,231.44. The trade was a 2.27 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Mariann Wojtkun Marshall sold 191 shares of the company'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 $46,241.10. Following the transaction, the chief accounting officer now owns 3,982 shares in the company, valued at $964,042.20. This trade represents a 4.58 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 66,255 shares of company stock worth $17,250,271. 0.33% of the stock is currently owned by insiders.

Progressive Trading Up 2.3 %

NYSE:PGR traded up $6.34 during trading hours on Thursday, reaching $287.47. The company's stock had a trading volume of 2,582,797 shares, compared to its average volume of 2,592,325. The firm has a market capitalization of $168.53 billion, a price-to-earnings ratio of 20.02, a PEG 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. The firm has a 50-day simple moving average of $267.83 and a 200-day simple moving average of $256.52. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.30 and a current ratio of 0.31.

Progressive (NYSE:PGR - Get Free Report) last announced its quarterly earnings data on Wednesday, January 29th. The insurance provider reported $4.08 earnings per share for the quarter, beating 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%. Research analysts expect that The Progressive Co. will post 14.68 EPS for the current fiscal year.

Progressive Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Thursday, April 3rd will be issued a dividend of $0.10 per share. The ex-dividend date is Thursday, April 3rd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.14%. Progressive's dividend payout ratio is currently 2.78%.

About Progressive

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.