Treasurer of the State of North Carolina increased its holdings in shares of The Progressive Co. (NYSE:PGR - Free Report) by 0.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 293,372 shares of the insurance provider's stock after acquiring an additional 2,660 shares during the quarter. Treasurer of the State of North Carolina owned about 0.05% of Progressive worth $70,295,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also bought and sold shares of PGR. Kesler Norman & Wride LLC increased its position in shares of Progressive by 1.1% in the fourth quarter. Kesler Norman & Wride LLC now owns 3,695 shares of the insurance provider's stock worth $885,000 after purchasing an additional 40 shares during the period. Atlantic Edge Private Wealth Management LLC grew its stake in 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 buying an additional 41 shares in the last quarter. LRI Investments LLC increased its holdings in Progressive by 16.5% in the 3rd quarter. LRI Investments LLC now owns 296 shares of the insurance provider's stock valued at $76,000 after buying an additional 42 shares during the period. Washington Trust Bank increased its holdings in Progressive by 4.1% in the 4th quarter. Washington Trust Bank now owns 1,066 shares of the insurance provider's stock valued at $255,000 after buying an additional 42 shares during the period. Finally, SYM FINANCIAL Corp raised its position in shares of Progressive by 2.8% in the 4th quarter. SYM FINANCIAL Corp now owns 1,602 shares of the insurance provider's stock valued at $384,000 after buying an additional 44 shares in the last quarter. Institutional investors and hedge funds own 85.34% of the company's stock.
Progressive Trading Up 1.0 %
Shares of Progressive stock traded up $2.60 during trading on Friday, hitting $275.78. The company's stock had a trading volume of 3,052,599 shares, compared to its average volume of 2,657,216. The stock has a market cap of $161.67 billion, a price-to-earnings ratio of 19.15, a price-to-earnings-growth ratio of 1.70 and a beta of 0.38. 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 Progressive Co. has a 52 week low of $201.34 and a 52 week high of $292.99. The stock has a 50-day moving average price of $271.85 and a two-hundred day moving average price of $257.20.
Progressive (NYSE:PGR - Get Free Report) last issued its quarterly earnings results on Wednesday, January 29th. The insurance provider reported $4.08 earnings per share for the quarter, beating the consensus estimate 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 anticipate that The Progressive Co. will post 14.68 EPS for the current fiscal year.
Progressive Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Thursday, April 3rd were issued a dividend of $0.10 per share. The ex-dividend date was Thursday, April 3rd. This represents a $0.40 annualized dividend and a yield of 0.15%. Progressive's payout ratio is 2.78%.
Analyst Ratings Changes
Several research firms recently issued reports on PGR. Morgan Stanley increased their price target on shares of Progressive from $300.00 to $307.00 and gave the stock an "overweight" rating in a research report on Friday, January 31st. UBS Group lifted their price target on Progressive from $275.00 to $285.00 and gave the company a "neutral" rating in a research note on Friday, March 14th. Barclays upped their price objective on Progressive from $285.00 to $297.00 and gave the stock an "equal weight" rating in a research report on Friday. Bank of America cut Progressive from a "buy" rating to a "neutral" rating and decreased their target price for the company from $300.00 to $287.00 in a research report on Friday, April 4th. Finally, Wells Fargo & Company increased their target price on shares of Progressive from $317.00 to $320.00 and gave the stock an "overweight" rating in a report on Thursday. Eight equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $283.71.
Read Our Latest Stock Report on PGR
Insider Transactions at Progressive
In other news, CEO Susan Patricia Griffith sold 11,021 shares of the firm's stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $243.29, for a total transaction of $2,681,299.09. Following the completion of the sale, the chief executive officer now owns 473,736 shares of the company's stock, valued at $115,255,231.44. This trade represents a 2.27 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Mariann Wojtkun Marshall sold 585 shares of Progressive stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $243.29, for a total transaction of $142,324.65. Following the completion of the sale, the chief accounting officer now owns 3,983 shares of the company's stock, valued at $969,024.07. This represents a 12.81 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 56,317 shares of company stock worth $14,844,282. Company insiders own 0.34% of the company's stock.
Progressive Company Profile
(
Free Report)
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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