The Progressive Co. (NYSE:PGR) is Timucuan Asset Management Inc. FL's 3rd Largest Position

Timucuan Asset Management Inc. FL lowered its position in The Progressive Co. (NYSE:PGR - Free Report) by 0.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,066,899 shares of the insurance provider's stock after selling 2,809 shares during the quarter. Progressive makes up about 7.8% of Timucuan Asset Management Inc. FL's portfolio, making the stock its 3rd biggest position. Timucuan Asset Management Inc. FL owned approximately 0.18% of Progressive worth $255,640,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Webster Bank N. A. bought a new position in Progressive in the fourth quarter worth approximately $26,000. Hager Investment Management Services LLC bought a new position in shares of Progressive in the 4th quarter worth $28,000. Atlantic Edge Private Wealth Management LLC lifted its stake in shares of Progressive by 54.7% during the 4th 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 last quarter. Valley National Advisers Inc. lifted its stake 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 last quarter. Finally, Atala Financial Inc bought a new stake in Progressive during the fourth quarter valued at about $32,000. 85.34% of the stock is owned by institutional investors.

Progressive Stock Performance

Shares of NYSE PGR traded up $3.21 during midday trading on Monday, reaching $278.85. 2,486,410 shares of the stock were exchanged, compared to its average volume of 2,645,737. 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 firm has a market cap of $163.47 billion, a price-to-earnings ratio of 19.36, a PEG ratio of 1.70 and a beta of 0.38. The firm has a 50-day simple moving average of $271.85 and a two-hundred day simple moving average of $257.23. The Progressive Co. has a twelve month low of $201.34 and a twelve month high of $292.99.

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Progressive (NYSE:PGR - Get Free Report) last released its quarterly earnings data on Wednesday, January 29th. The insurance provider reported $4.08 earnings per share for the quarter, beating analysts' consensus estimates of $3.44 by $0.64. Progressive had a net margin of 11.25% and a return on equity of 33.79%. As a group, analysts anticipate that The Progressive Co. will post 14.68 EPS for the current fiscal year.

Progressive Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Thursday, April 3rd were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.14%. The ex-dividend date of this dividend was Thursday, April 3rd. Progressive's dividend payout ratio is presently 2.78%.

Analyst Ratings Changes

PGR has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. raised their price target on shares of Progressive from $267.00 to $287.00 and gave the company an "overweight" rating in a report on Tuesday, April 8th. BMO Capital Markets decreased their price objective on Progressive from $273.00 to $267.00 and set an "outperform" rating for the company in a report on Monday, December 16th. Raymond James upgraded Progressive from a "market perform" rating to an "outperform" rating and set a $305.00 target price on the stock in a research note on Thursday, December 26th. Morgan Stanley boosted their price target on Progressive from $300.00 to $307.00 and gave the stock an "overweight" rating in a research note on Friday, January 31st. Finally, UBS Group increased their price objective on shares of Progressive from $275.00 to $285.00 and gave the company a "neutral" rating in a research report on Friday, March 14th. Eight equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $283.71.

Insider Activity

In related news, CAO Carl G. Joyce sold 360 shares of the company's stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $276.17, for a total transaction of $99,421.20. Following the completion of the sale, the chief accounting officer now owns 655 shares of the company's stock, valued at approximately $180,891.35. This represents a 35.47 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Andrew J. Quigg sold 962 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 transaction of $234,044.98. Following the completion of the transaction, the insider now directly owns 34,787 shares in the company, valued at $8,463,329.23. This trade represents a 2.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 56,317 shares of company stock worth $14,844,282 over the last 90 days. 0.34% of the stock is currently owned by company insiders.

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.