XTX Topco Ltd Invests $1.24 Million in The Progressive Co. (NYSE:PGR)

XTX Topco Ltd acquired a new position in shares of The Progressive Co. (NYSE:PGR - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 5,185 shares of the insurance provider's stock, valued at approximately $1,242,000.

A number of other institutional investors and hedge funds also recently modified their holdings of PGR. Webster Bank N. A. acquired a new stake in Progressive in the 4th quarter valued at approximately $26,000. Hager Investment Management Services LLC acquired a new stake in shares of Progressive in the 4th quarter valued at $28,000. Atlantic Edge Private Wealth Management LLC raised 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 acquiring an additional 41 shares in the last quarter. Valley National Advisers Inc. lifted 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 last quarter. Finally, Atala Financial Inc bought a new position in shares of Progressive in the 4th quarter valued at $32,000. 85.34% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Progressive news, CAO Mariann Wojtkun Marshall sold 585 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 value of $142,324.65. Following the transaction, the chief accounting officer now directly owns 3,983 shares of the company's stock, valued at $969,024.07. This trade represents a 12.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Andrew J. Quigg sold 962 shares of Progressive stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $243.29, for a total transaction of $234,044.98. Following 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 sold a total of 56,317 shares of company stock valued at $14,844,282 over the last 90 days. Insiders own 0.34% of the company's stock.

Wall Street Analysts Forecast Growth

PGR has been the subject of several recent research reports. 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. JPMorgan Chase & Co. raised their price target on shares of Progressive from $267.00 to $287.00 and gave the stock an "overweight" rating in a report on Tuesday, April 8th. Bank of America increased their target price on Progressive from $289.00 to $297.00 and gave the stock a "neutral" rating in a report on Thursday. Wells Fargo & Company raised their target price on Progressive from $320.00 to $324.00 and gave the company an "overweight" rating in a report on Thursday. Finally, Keefe, Bruyette & Woods reaffirmed a "market perform" rating and issued a $288.00 price objective on shares of Progressive in a research report on Thursday. Nine investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $285.76.

Progressive Trading Down 3.5 %

NYSE:PGR traded down $9.68 during midday trading on Friday, hitting $265.45. 3,648,773 shares of the company traded hands, compared to its average volume of 2,640,852. The Progressive Co. has a 12-month low of $201.34 and a 12-month high of $292.99. The company has a current ratio of 0.31, a quick ratio of 0.30 and a debt-to-equity ratio of 0.27. The firm's fifty day moving average is $273.76 and its 200-day moving average is $257.76. The firm has a market capitalization of $155.62 billion, a P/E ratio of 18.43, a P/E/G ratio of 1.70 and a beta of 0.38.

Progressive (NYSE:PGR - Get Free Report) last issued its earnings results on Wednesday, April 16th. The insurance provider reported $4.65 EPS for the quarter, topping analysts' consensus estimates of $4.28 by $0.37. Progressive had a net margin of 11.25% and a return on equity of 33.79%. The business had revenue of $22.21 billion for the quarter, compared to analyst estimates of $21.87 billion. On average, sell-side analysts predict that The Progressive Co. will post 14.68 EPS for the current year.

Progressive Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Thursday, April 3rd were issued a $0.10 dividend. The ex-dividend date was Thursday, April 3rd. This represents a $0.40 annualized dividend and a yield of 0.15%. Progressive's dividend payout ratio (DPR) is presently 2.70%.

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.