Teacher Retirement System of Texas Purchases 50,755 Shares of The Progressive Co. (NYSE:PGR)

Teacher Retirement System of Texas raised its holdings in shares of The Progressive Co. (NYSE:PGR - Free Report) by 16.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 351,507 shares of the insurance provider's stock after purchasing an additional 50,755 shares during the period. Teacher Retirement System of Texas owned about 0.06% of Progressive worth $84,225,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of PGR. Webster Bank N. A. acquired a new stake in Progressive during the fourth quarter worth about $26,000. Hager Investment Management Services LLC acquired a new position in Progressive in the fourth quarter valued at approximately $28,000. Atlantic Edge Private Wealth Management LLC grew its holdings in shares of Progressive by 54.7% during the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 116 shares of the insurance provider's stock valued at $28,000 after purchasing an additional 41 shares during the last quarter. Valley National Advisers Inc. raised its position in shares of Progressive by 3,000.0% during the 4th quarter. Valley National Advisers Inc. now owns 124 shares of the insurance provider's stock worth $29,000 after purchasing an additional 120 shares during the period. Finally, Atala Financial Inc bought a new stake in shares of Progressive in the 4th quarter worth approximately $32,000. 85.34% of the stock is owned by institutional investors and hedge funds.

Progressive Price Performance

Shares of NYSE PGR traded up $1.21 during trading on Monday, hitting $274.07. The company had a trading volume of 2,553,247 shares, compared to its average volume of 2,433,885. The company has a market cap of $160.66 billion, a P/E ratio of 19.03, a PEG ratio of 1.70 and a beta of 0.35. 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 business's 50-day moving average is $261.96 and its 200 day moving average is $255.01. The Progressive Co. has a 52 week low of $201.34 and a 52 week high of $292.99.

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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, 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 predict that The Progressive Co. will post 14.68 earnings per share for the current fiscal year.

Progressive Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Thursday, April 3rd will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.15%. The ex-dividend date is Thursday, April 3rd. Progressive's dividend payout ratio (DPR) is presently 2.78%.

Insider Transactions at Progressive

In other Progressive news, CFO John P. Sauerland sold 10,000 shares of the firm's stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $238.66, for a total transaction of $2,386,600.00. Following the transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Susan Patricia Griffith sold 9,066 shares of the business's stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $242.10, for a total value of $2,194,878.60. Following the completion of the sale, the chief executive officer now directly owns 473,736 shares of the company's stock, valued at $114,691,485.60. This represents a 1.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 65,855 shares of company stock valued at $16,767,455 in the last three months. Corporate insiders own 0.34% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Morgan Stanley increased their target price on Progressive from $300.00 to $307.00 and gave the stock an "overweight" rating in a research report on Friday, January 31st. Hsbc Global Res lowered shares of Progressive from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, December 10th. Roth Mkm lifted their price objective on shares of Progressive from $290.00 to $315.00 and gave the company a "buy" rating in a research report on Tuesday, February 25th. JPMorgan Chase & Co. boosted their target price 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. Finally, BMO Capital Markets dropped their price target on shares of Progressive from $273.00 to $267.00 and set an "outperform" rating on the stock in a research note on Monday, December 16th. Six research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Progressive currently has a consensus rating of "Moderate Buy" and an average target price of $281.06.

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.