Unigestion Holding SA Purchases Shares of 52,957 The Progressive Co. (NYSE:PGR)

Unigestion Holding SA bought a new position in The Progressive Co. (NYSE:PGR - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 52,957 shares of the insurance provider's stock, valued at approximately $14,987,000.

Other large investors have also added to or reduced their stakes in the company. Brighton Jones LLC lifted its stake in Progressive by 15.6% in the 4th quarter. Brighton Jones LLC now owns 3,392 shares of the insurance provider's stock worth $813,000 after purchasing an additional 457 shares in the last quarter. Revolve Wealth Partners LLC bought a new stake in Progressive during the fourth quarter valued at $269,000. Chicago Partners Investment Group LLC grew its position in Progressive by 12.5% during the fourth quarter. Chicago Partners Investment Group LLC now owns 1,471 shares of the insurance provider's stock worth $358,000 after buying an additional 163 shares in the last quarter. Independence Bank of Kentucky increased its stake in Progressive by 1,650.0% in the 4th quarter. Independence Bank of Kentucky now owns 175 shares of the insurance provider's stock worth $42,000 after acquiring an additional 165 shares during the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. raised its holdings in shares of Progressive by 4.4% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 17,657 shares of the insurance provider's stock valued at $4,231,000 after acquiring an additional 740 shares in the last quarter. Institutional investors own 85.34% of the company's stock.

Insider Activity

In related news, CFO John P. Sauerland sold 1,542 shares of the firm's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $282.66, for a total value of $435,861.72. Following the transaction, the chief financial officer now owns 268,024 shares of the company's stock, valued at approximately $75,759,663.84. This trade represents a 0.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Dyke Kahina Van sold 2,490 shares of Progressive stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $277.67, for a total transaction of $691,398.30. Following the sale, the director now owns 12,429 shares in the company, valued at approximately $3,451,160.43. The trade was a 16.69% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 37,755 shares of company stock valued at $10,367,074. Corporate insiders own 0.34% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Morgan Stanley set a $330.00 price objective on shares of Progressive and gave the stock an "overweight" rating in a research report on Monday, May 19th. Roth Mkm increased their price target on shares of Progressive from $290.00 to $315.00 and gave the stock a "buy" rating in a report on Tuesday, February 25th. Wall Street Zen downgraded shares of Progressive from a "buy" rating to a "hold" rating in a report on Wednesday, May 21st. Bank of America upgraded shares of Progressive from a "neutral" rating to a "buy" rating and set a $312.00 target price for the company in a research report on Monday, April 28th. Finally, UBS Group raised their price target on Progressive from $285.00 to $291.00 and gave the company a "neutral" rating in a research report on Wednesday, May 28th. Eight analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $288.59.

Progressive Trading Down 0.8%

PGR traded down $2.37 during trading on Thursday, hitting $279.80. 2,499,479 shares of the stock traded hands, compared to its average volume of 2,649,192. The firm has a 50-day moving average of $276.36 and a 200 day moving average of $264.11. The Progressive Co. has a 12-month low of $201.34 and a 12-month high of $292.99. The firm has a market capitalization of $164.03 billion, a P/E ratio of 19.43, a price-to-earnings-growth ratio of 1.70 and a beta of 0.40. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.31 and a quick ratio of 0.30.

Progressive (NYSE:PGR - Get Free Report) last released its quarterly earnings results on Wednesday, April 16th. The insurance provider reported $4.65 EPS for the quarter, beating analysts' consensus estimates of $4.28 by $0.37. The business had revenue of $22.21 billion during the quarter, compared to analyst estimates of $21.87 billion. 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 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 paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.14%. The ex-dividend date was Thursday, April 3rd. Progressive's payout ratio is 2.70%.

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.