18,860 Shares in The Progressive Corporation $PGR Bought by Osmosis Investment Management UK Ltd

Osmosis Investment Management UK Ltd bought a new stake in The Progressive Corporation (NYSE:PGR - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 18,860 shares of the insurance provider's stock, valued at approximately $4,120,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in shares of Progressive by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 55,261,140 shares of the insurance provider's stock worth $12,584,067,000 after buying an additional 593,612 shares during the last quarter. BlackRock Inc. acquired a new stake in shares of Progressive in the second quarter valued at about $10,496,271,000. State Street Corp increased its position in shares of Progressive by 0.3% in the third quarter. State Street Corp now owns 25,808,762 shares of the insurance provider's stock valued at $6,373,474,000 after acquiring an additional 78,374 shares during the last quarter. Capital International Investors raised its holdings in Progressive by 8.9% during the fourth quarter. Capital International Investors now owns 14,921,724 shares of the insurance provider's stock worth $3,398,123,000 after acquiring an additional 1,217,527 shares in the last quarter. Finally, GQG Partners LLC raised its holdings in Progressive by 11.7% during the fourth quarter. GQG Partners LLC now owns 10,432,549 shares of the insurance provider's stock worth $2,375,706,000 after acquiring an additional 1,092,151 shares in the last quarter. 85.34% of the stock is currently owned by institutional investors and hedge funds.

Progressive Trading Up 0.1%

Shares of NYSE:PGR opened at $219.45 on Monday. The Progressive Corporation has a 12-month low of $189.20 and a 12-month high of $252.82. The stock has a market cap of $127.58 billion, a PE ratio of 11.01, a P/E/G ratio of 2.93 and a beta of 0.27. The business has a 50 day moving average of $215.53 and a 200-day moving average of $206.66. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.24.

Progressive (NYSE:PGR - Get Free Report) last announced its earnings results on Wednesday, July 15th. The insurance provider reported $5.67 earnings per share for the quarter, topping analysts' consensus estimates of $4.64 by $1.03. The company had revenue of $23.61 billion for the quarter, compared to analyst estimates of $19.49 billion. Progressive had a return on equity of 32.92% and a net margin of 12.84%.The firm's quarterly revenue was up 5.0% compared to the same quarter last year. During the same quarter last year, the company earned $5.40 earnings per share. As a group, equities research analysts forecast that The Progressive Corporation will post 17.71 earnings per share for the current year.

Progressive Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Thursday, October 1st will be given a dividend of $0.10 per share. The ex-dividend date is Thursday, October 1st. This represents a $0.40 annualized dividend and a yield of 0.2%. Progressive's dividend payout ratio (DPR) is presently 2.01%.

Wall Street Analysts Forecast Growth

PGR has been the subject of a number of analyst reports. The Goldman Sachs Group restated a "buy" rating and issued a $230.00 price target on shares of Progressive in a research note on Wednesday. Evercore set a $240.00 price target on shares of Progressive in a research report on Friday, July 10th. Cantor Fitzgerald cut their target price on shares of Progressive from $220.00 to $200.00 and set a "neutral" rating for the company in a research note on Monday, August 17th. UBS Group boosted their price target on Progressive from $220.00 to $230.00 and gave the stock a "neutral" rating in a research report on Tuesday, June 30th. Finally, Mizuho set a $236.00 price objective on Progressive in a research note on Wednesday, August 5th. Seven equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $236.05.

Insider Activity at Progressive

In other news, CEO Susan Patricia Griffith sold 37,338 shares of the business's stock in a transaction dated Monday, July 27th. The shares were sold at an average price of $212.71, for a total value of $7,942,165.98. Following the completion of the sale, the chief executive officer owned 522,776 shares of the company's stock, valued at approximately $111,199,682.96. The trade was a 6.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Lori A. Niederst sold 7,339 shares of the company's stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $209.29, for a total transaction of $1,535,979.31. Following the completion of the transaction, the insider owned 42,567 shares in the company, valued at $8,908,847.43. This trade represents a 14.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 82,224 shares of company stock valued at $17,416,438. 0.32% of the stock is currently owned by insiders.

Progressive Profile

Progressive Corporation is a large U.S.-based property and casualty insurer that primarily underwrites personal auto insurance along with a broad suite of related products. Its offerings include coverage for private passenger automobiles, commercial auto fleets, motorcycles, boats and recreational vehicles, as well as homeowners, renters, umbrella and other specialty P&C products. Progressive also provides claims handling, risk management and related services to individual and commercial policyholders.

The company distributes its products through a mix of direct channels—online and by phone—and an extensive independent agent network.

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