Blueshift Asset Management LLC Sells 1,468 Shares of The Progressive Co. (NYSE:PGR)

Blueshift Asset Management LLC trimmed its position in shares of The Progressive Co. (NYSE:PGR - Free Report) by 10.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 12,148 shares of the insurance provider's stock after selling 1,468 shares during the period. Progressive comprises about 1.1% of Blueshift Asset Management LLC's portfolio, making the stock its 8th biggest position. Blueshift Asset Management LLC's holdings in Progressive were worth $2,911,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in PGR. Versant Capital Management Inc boosted its position in shares of Progressive by 98.2% during the 4th 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 lifted its stake in Progressive by 90.9% during the third 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 during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in 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 purchasing an additional 330,667 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in Progressive by 2,262.4% in the fourth 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 during the last quarter. Finally, Signal Advisors Wealth LLC raised its holdings in Progressive by 42.3% during the fourth quarter. Signal Advisors Wealth LLC now owns 11,889 shares of the insurance provider's stock worth $2,849,000 after purchasing an additional 3,534 shares in the last quarter. Institutional investors and hedge funds own 85.34% of the company's stock.

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Insider Activity at Progressive

In other news, CAO Mariann Wojtkun Marshall sold 191 shares of Progressive stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $242.10, for a total transaction of $46,241.10. Following the completion of the sale, the chief accounting officer now directly owns 3,982 shares in the company, valued at approximately $964,042.20. This trade represents a 4.58 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO John P. Sauerland sold 10,000 shares of the company's 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 owns 282,958 shares in the company, valued at approximately $67,530,756.28. This represents a 3.41 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 65,855 shares of company stock worth $16,767,455 over the last 90 days. Company insiders own 0.34% of the company's stock.

Progressive Stock Performance

PGR traded up $1.21 during trading on Monday, reaching $274.07. The company's stock had a trading volume of 2,553,247 shares, compared to its average volume of 2,433,886. The company has a market capitalization of $160.66 billion, a price-to-earnings ratio of 19.03, a price-to-earnings-growth ratio of 1.70 and a beta of 0.35. The company's fifty day moving average price is $262.72 and its 200-day moving average price is $255.19. The Progressive Co. has a 52-week low of $201.34 and a 52-week high of $292.99. 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, 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%. On average, equities analysts forecast 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 issued a $0.10 dividend. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.15%. Progressive's dividend payout ratio is presently 2.78%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on PGR. Hsbc Global Res downgraded shares of Progressive from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, December 10th. JPMorgan Chase & Co. raised their price objective on Progressive from $251.00 to $256.00 and gave the stock an "overweight" rating in a report on Friday, January 3rd. 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. Keefe, Bruyette & Woods lifted their price target on Progressive from $294.00 to $300.00 and gave the stock an "outperform" rating in a research report on Thursday. Finally, UBS Group boosted their price objective on Progressive from $275.00 to $285.00 and gave the company a "neutral" rating in a research note on Friday, March 14th. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus 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.