The Progressive Co. (NYSE:PGR) Shares Sold by Vestcor Inc

Vestcor Inc decreased its position in The Progressive Co. (NYSE:PGR - Free Report) by 2.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 127,101 shares of the insurance provider's stock after selling 3,801 shares during the quarter. Progressive comprises approximately 1.0% of Vestcor Inc's holdings, making the stock its 10th largest position. Vestcor Inc's holdings in Progressive were worth $30,455,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. State Street Corp lifted its holdings in shares of Progressive by 1.3% in the third quarter. State Street Corp now owns 24,683,807 shares of the insurance provider's stock valued at $6,263,763,000 after buying an additional 315,411 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Progressive by 13.2% in the third quarter. Geode Capital Management LLC now owns 14,425,792 shares of the insurance provider's stock valued at $3,652,235,000 after buying an additional 1,682,213 shares during the period. FMR LLC lifted its holdings in shares of Progressive by 1.6% in the third quarter. FMR LLC now owns 10,518,615 shares of the insurance provider's stock valued at $2,669,204,000 after buying an additional 170,618 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Progressive by 7.0% in the third 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 buying an additional 330,667 shares during the period. Finally, Jennison Associates LLC lifted its holdings 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 purchasing 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

PGR has been the subject of several analyst reports. JPMorgan Chase & Co. upped their target price on Progressive from $251.00 to $256.00 and gave the company an "overweight" rating in a report on Friday, January 3rd. Wells Fargo & Company upped their target price on Progressive from $313.00 to $317.00 and gave the company an "overweight" rating in a report on Thursday, February 20th. 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 report on Monday, December 16th. Roth Mkm upped their target price on Progressive from $290.00 to $315.00 and gave the company a "buy" rating in a report on Tuesday, February 25th. Finally, StockNews.com raised Progressive from a "hold" rating to a "buy" rating in a report on Thursday, March 6th. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $276.59.

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Progressive Stock Up 0.2 %

PGR opened at $277.52 on Thursday. The Progressive Co. has a fifty-two week low of $197.77 and a fifty-two week high of $287.49. The business has a 50-day moving average of $256.53 and a 200-day moving average of $253.50. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.31 and a quick ratio of 0.30. The company has a market capitalization of $162.69 billion, a PE ratio of 19.27, a price-to-earnings-growth ratio of 1.70 and a beta of 0.35.

Progressive (NYSE:PGR - Get Free Report) last posted its quarterly earnings results on Wednesday, January 29th. The insurance provider reported $4.08 earnings per share for the quarter, topping 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%. Equities research analysts forecast that The Progressive Co. will post 14.68 EPS for the current fiscal year.

Progressive Announces Dividend

The company 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 dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.14%. The ex-dividend date of this dividend is Thursday, April 3rd. Progressive's dividend payout ratio (DPR) is presently 2.78%.

Insider Activity at Progressive

In related news, CEO Susan Patricia Griffith sold 11,021 shares of the firm's stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $243.29, for a total value of $2,681,299.09. Following the transaction, the chief executive officer now directly owns 473,736 shares of the company's stock, valued at approximately $115,255,231.44. This trade represents a 2.27 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Mariann Wojtkun Marshall sold 191 shares of the firm's stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $242.10, for a total value of $46,241.10. Following the completion of the transaction, the chief accounting officer now directly owns 3,982 shares in the company, valued at $964,042.20. The trade was a 4.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 62,257 shares of company stock valued at $15,752,781. Corporate insiders own 0.34% of the company's stock.

Progressive 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.

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