Axa S.A. Has $136.93 Million Stock Holdings in The Progressive Co. (NYSE:PGR)

Axa S.A. increased its stake in The Progressive Co. (NYSE:PGR - Free Report) by 8.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 571,468 shares of the insurance provider's stock after acquiring an additional 44,348 shares during the quarter. Axa S.A. owned about 0.10% of Progressive worth $136,929,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Kesler Norman & Wride LLC boosted its stake in shares of Progressive by 1.1% in the 4th quarter. Kesler Norman & Wride LLC now owns 3,695 shares of the insurance provider's stock valued at $885,000 after purchasing an additional 40 shares during the last quarter. Atlantic Edge Private Wealth Management LLC boosted its position 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 valued at $28,000 after acquiring an additional 41 shares during the last quarter. Washington Trust Bank grew its holdings in Progressive by 4.1% during the 4th quarter. Washington Trust Bank now owns 1,066 shares of the insurance provider's stock worth $255,000 after acquiring an additional 42 shares during the period. 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 worth $384,000 after acquiring an additional 44 shares in the last quarter. Finally, Monument Capital Management boosted its position in shares of Progressive by 0.3% during the 4th quarter. Monument Capital Management now owns 13,762 shares of the insurance provider's stock valued at $3,298,000 after purchasing an additional 44 shares in the last quarter. 85.34% of the stock is currently owned by institutional investors.

Progressive Stock Performance

Shares of PGR stock opened at $282.79 on Friday. 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 firm has a 50-day moving average of $274.78 and a 200-day moving average of $259.15. The Progressive Co. has a one year low of $201.34 and a one year high of $292.99. The company has a market cap of $165.78 billion, a P/E ratio of 19.64, a P/E/G ratio of 1.70 and a beta of 0.40.

Progressive (NYSE:PGR - Get Free Report) last posted its earnings results on Wednesday, April 16th. The insurance provider reported $4.65 EPS for the quarter, topping the consensus estimate of $4.28 by $0.37. The firm had revenue of $22.21 billion for the quarter, compared to analysts' expectations of $21.87 billion. Progressive had a net margin of 11.25% and a return on equity of 33.79%. Equities research analysts forecast that The Progressive Co. will post 14.68 EPS for the current fiscal year.

Progressive Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Thursday, April 3rd were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.14%. The ex-dividend date was Thursday, April 3rd. Progressive's dividend payout ratio is presently 2.70%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Keefe, Bruyette & Woods reissued a "market perform" rating and issued a $288.00 price target on shares of Progressive in a research note on Thursday, April 17th. Wells Fargo & Company boosted their target price on shares of Progressive from $320.00 to $324.00 and gave the company an "overweight" rating in a research report on Thursday, April 17th. StockNews.com cut shares of Progressive from a "buy" rating to a "hold" rating in a report on Friday, April 4th. UBS Group upped their price objective on shares of Progressive from $275.00 to $285.00 and gave the company a "neutral" rating in a report on Friday, March 14th. Finally, Roth Mkm raised their target price on Progressive from $290.00 to $315.00 and gave the company a "buy" rating in a research note on Tuesday, February 25th. Eight research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, Progressive presently has an average rating of "Moderate Buy" and a consensus target price of $287.41.

Insider Transactions at Progressive

In other Progressive news, Director Devin C. Johnson sold 400 shares of the business's stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $275.04, for a total value of $110,016.00. Following the sale, the director now directly owns 8,370 shares in the company, valued at $2,302,084.80. The trade was a 4.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO John P. Sauerland sold 10,000 shares of the stock in a transaction on Monday, April 28th. The stock was sold at an average price of $268.59, for a total value of $2,685,900.00. Following the transaction, the chief financial officer now owns 248,024 shares of the company's stock, valued at $66,616,766.16. The trade was a 3.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 39,894 shares of company stock worth $11,020,097 in the last ninety days. Company insiders own 0.34% of the company's stock.

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.

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