The Progressive Co. (NYSE:PGR) Shares Bought by Trexquant Investment LP

Trexquant Investment LP raised its holdings in The Progressive Co. (NYSE:PGR - Free Report) by 45.9% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 206,840 shares of the insurance provider's stock after buying an additional 65,109 shares during the period. Progressive comprises approximately 0.6% of Trexquant Investment LP's investment portfolio, making the stock its 7th biggest holding. Trexquant Investment LP's holdings in Progressive were worth $49,561,000 at the end of the most recent quarter.

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

Insider Buying and Selling

In related news, CAO Mariann Wojtkun Marshall sold 191 shares of the firm's stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $242.10, for a total transaction of $46,241.10. Following the completion of the transaction, the chief accounting officer now directly owns 3,982 shares of the company's stock, valued at $964,042.20. This trade represents a 4.58 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO John P. Sauerland sold 10,000 shares of Progressive stock in a transaction dated Friday, March 28th. The stock was sold at an average price of $275.94, for a total value of $2,759,400.00. Following the transaction, the chief financial officer now directly owns 258,024 shares in the company, valued at $71,199,142.56. The trade was a 3.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 66,255 shares of company stock worth $17,250,271 in the last ninety days. Company insiders own 0.33% of the company's stock.

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Progressive Price Performance

Shares of NYSE:PGR traded up $5.55 during trading on Thursday, hitting $286.78. 3,830,895 shares of the company were exchanged, compared to its average volume of 2,596,582. The Progressive Co. has a 1-year low of $201.34 and a 1-year high of $292.99. The company has a market capitalization of $168.12 billion, a P/E ratio of 19.92, a price-to-earnings-growth ratio of 1.70 and a beta of 0.38. The company has a quick ratio of 0.30, a current ratio of 0.31 and a debt-to-equity ratio of 0.27. The business's 50 day moving average is $267.83 and its 200-day moving average is $256.52.

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

Progressive Dividend Announcement

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

Wall Street Analyst Weigh In

PGR has been the topic of several research reports. Keefe, Bruyette & Woods upped their price target on shares of Progressive from $294.00 to $300.00 and gave the company an "outperform" rating in a research note on Thursday, March 20th. Raymond James upgraded shares of Progressive from a "market perform" rating to an "outperform" rating and set a $305.00 price target for the company in a research report on Thursday, December 26th. Hsbc Global Res downgraded 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 Progressive from $290.00 to $315.00 and gave the company a "buy" rating in a report on Tuesday, February 25th. Finally, Bank of America cut their target price on Progressive from $318.00 to $300.00 and set a "buy" rating for the company in a research report on Thursday, March 20th. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, Progressive currently has a consensus rating of "Moderate Buy" and a consensus price target of $281.06.

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.