The Progressive Co. (NYSE:PGR) Shares Sold by Reinhart Partners LLC.

Reinhart Partners LLC. trimmed its position in shares of The Progressive Co. (NYSE:PGR - Free Report) by 17.2% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 30,153 shares of the insurance provider's stock after selling 6,259 shares during the quarter. Reinhart Partners LLC.'s holdings in Progressive were worth $7,225,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the company. Davis Capital Management acquired a new stake in shares of Progressive in the third quarter valued at about $25,000. DiNuzzo Private Wealth Inc. grew its stake in Progressive by 114.1% during the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 137 shares of the insurance provider's stock valued at $35,000 after acquiring an additional 73 shares in the last quarter. Kimelman & Baird LLC acquired a new stake in Progressive in the 2nd quarter valued at about $36,000. Friedenthal Financial purchased a new position in Progressive in the 3rd quarter worth approximately $49,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Progressive during the 3rd quarter worth approximately $49,000. 85.34% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently commented on PGR shares. StockNews.com upgraded Progressive from a "hold" rating to a "buy" rating in a research report on Tuesday, November 19th. Bank of America lifted their price target on Progressive from $331.00 to $335.00 and gave the stock a "buy" rating in a report on Monday, November 18th. Hsbc Global Res lowered shares of Progressive from a "strong-buy" rating to a "hold" rating in a report on Tuesday, December 10th. Wells Fargo & Company lifted their target price on shares of Progressive from $299.00 to $302.00 and gave the stock an "overweight" rating in a research note on Monday, December 16th. Finally, The Goldman Sachs Group increased their price target on shares of Progressive from $262.00 to $280.00 and gave the company a "buy" rating in a research note on Wednesday, September 18th. Six equities research 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, the company presently has an average rating of "Moderate Buy" and a consensus price target of $275.24.

Insider Activity at Progressive

In other news, insider Andrew J. Quigg sold 681 shares of the company's 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 completion of the transaction, the insider now directly owns 33,612 shares of the company's stock, valued at approximately $8,137,465.20. This represents a 1.99 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO John P. Sauerland sold 10,000 shares of the firm's stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $268.09, for a total value of $2,680,900.00. Following the sale, the chief financial officer now directly owns 292,958 shares in the company, valued at $78,539,110.22. This trade represents a 3.30 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 32,919 shares of company stock worth $8,222,168. Company insiders own 0.34% of the company's stock.

Progressive Trading Up 0.1 %

NYSE PGR traded up $0.23 during trading on Monday, hitting $235.84. The stock had a trading volume of 3,023,554 shares, compared to its average volume of 2,623,248. The company has a market capitalization of $138.16 billion, a PE ratio of 17.14, a PEG ratio of 0.70 and a beta of 0.41. The Progressive Co. has a twelve month low of $166.92 and a twelve month high of $270.62. 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 firm has a 50 day moving average price of $251.23 and a 200 day moving average price of $241.78.

Progressive (NYSE:PGR - Get Free Report) last announced its quarterly earnings data on Tuesday, October 15th. The insurance provider reported $3.58 earnings per share for the quarter, beating analysts' consensus estimates of $3.40 by $0.18. The firm had revenue of $19.43 billion during the quarter, compared to analysts' expectations of $18.95 billion. Progressive had a net margin of 11.27% and a return on equity of 33.10%. As a group, equities research analysts forecast that The Progressive Co. will post 13.2 earnings per share for the current year.

Progressive Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 16th. Stockholders of record on Thursday, January 9th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.17%. The ex-dividend date is Friday, January 10th. Progressive's payout ratio is currently 2.91%.

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.