Trillium Asset Management LLC Sells 1,094 Shares of The Progressive Co. (NYSE:PGR)

Trillium Asset Management LLC cut its holdings in shares of The Progressive Co. (NYSE:PGR - Free Report) by 1.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 85,379 shares of the insurance provider's stock after selling 1,094 shares during the period. Trillium Asset Management LLC's holdings in Progressive were worth $20,458,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Versant Capital Management Inc increased its position in shares of Progressive by 98.2% during the fourth 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 grew its position in Progressive by 90.9% in the 3rd 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 in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Progressive by 7.0% in the 3rd 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 worth $1,286,036,000 after purchasing an additional 330,667 shares in the last quarter. Assenagon Asset Management S.A. grew its position in Progressive by 2,262.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 433,999 shares of the insurance provider's stock worth $103,990,000 after purchasing an additional 415,628 shares in the last quarter. Finally, Signal Advisors Wealth LLC grew its position in Progressive by 42.3% in the 4th 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. 85.34% of the stock is owned by institutional investors.

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Insider Activity

In other news, CEO Susan Patricia Griffith sold 11,021 shares of the firm's stock in a transaction 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 sale, the chief executive officer now owns 473,736 shares in the company, valued at approximately $115,255,231.44. This trade represents a 2.27 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Mariann Wojtkun Marshall sold 191 shares of Progressive 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 owns 3,982 shares in the company, valued at approximately $964,042.20. The trade was a 4.58 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 65,495 shares of company stock worth $16,668,034. 0.34% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. HSBC downgraded shares of Progressive from a "buy" rating to a "hold" rating and set a $267.00 price objective for the company. in a research report on Tuesday, December 10th. Barclays upped their price objective on shares of Progressive from $264.00 to $285.00 and gave the stock an "equal weight" rating in a research report on Thursday, March 13th. JPMorgan Chase & Co. upped their price objective on shares of Progressive from $251.00 to $256.00 and gave the stock an "overweight" rating in a research report on Friday, January 3rd. StockNews.com raised shares of Progressive from a "hold" rating to a "buy" rating in a research report on Saturday. Finally, Bank of America reduced their target price on shares of Progressive from $318.00 to $300.00 and set a "buy" rating for the company in a research report on Thursday. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, Progressive currently has a consensus rating of "Moderate Buy" and a consensus price target of $281.06.

Progressive Price Performance

NYSE:PGR traded down $1.54 during trading hours on Friday, hitting $273.08. The stock had a trading volume of 7,280,100 shares, compared to its average volume of 2,433,405. The company has a 50 day simple moving average of $261.96 and a two-hundred day simple moving average of $255.01. 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 one year low of $201.34 and a one year high of $292.99. The firm has a market capitalization of $160.08 billion, a price-to-earnings ratio of 18.96, a P/E/G ratio of 1.70 and a beta of 0.35.

Progressive (NYSE:PGR - Get Free Report) last posted its quarterly earnings data 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 net margin of 11.25% and a return on equity of 33.79%. Research 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 disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Thursday, April 3rd will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.15%. The ex-dividend date is Thursday, April 3rd. Progressive's dividend payout ratio (DPR) is currently 2.78%.

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.