Asahi Life Asset Management CO. LTD. Acquires 1,055 Shares of The Progressive Corporation (NYSE:PGR)

Asahi Life Asset Management CO. LTD. increased its holdings in The Progressive Corporation (NYSE:PGR - Free Report) by 95.9% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,155 shares of the insurance provider's stock after buying an additional 1,055 shares during the period. Asahi Life Asset Management CO. LTD.'s holdings in Progressive were worth $610,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Highline Wealth Partners LLC raised its stake in Progressive by 114.0% in the first quarter. Highline Wealth Partners LLC now owns 92 shares of the insurance provider's stock worth $26,000 after buying an additional 49 shares in the last quarter. TruNorth Capital Management LLC grew its holdings in shares of Progressive by 210.0% during the first quarter. TruNorth Capital Management LLC now owns 93 shares of the insurance provider's stock valued at $26,000 after buying an additional 63 shares during the last quarter. HWG Holdings LP purchased a new stake in shares of Progressive during the first quarter valued at $28,000. Minot DeBlois Advisors LLC purchased a new stake in shares of Progressive during the fourth quarter valued at $28,000. Finally, Garde Capital Inc. purchased a new stake in shares of Progressive during the first quarter valued at $33,000. Institutional investors own 85.34% of the company's stock.

Insider Activity at Progressive

In other Progressive news, Director Dyke Kahina Van sold 2,490 shares of the company's stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $277.67, for a total transaction of $691,398.30. Following the transaction, the director directly owned 12,429 shares in the company, valued at approximately $3,451,160.43. This represents a 16.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Steven Broz sold 1,267 shares of the company's stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $260.38, for a total transaction of $329,901.46. Following the transaction, the insider owned 27,621 shares in the company, valued at $7,191,955.98. The trade was a 4.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 42,705 shares of company stock valued at $11,450,948 in the last ninety days. Company insiders own 0.33% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. UBS Group dropped their price objective on shares of Progressive from $291.00 to $280.00 and set a "neutral" rating on the stock in a report on Wednesday, July 9th. Keefe, Bruyette & Woods raised their target price on Progressive from $288.00 to $290.00 and gave the company a "market perform" rating in a research report on Wednesday, July 9th. Bank of America upgraded Progressive from a "neutral" rating to a "buy" rating and set a $312.00 target price on the stock in a research report on Monday, April 28th. BMO Capital Markets raised their target price on Progressive from $282.00 to $288.00 and gave the company an "outperform" rating in a research report on Thursday, April 17th. Finally, Wells Fargo & Company raised their target price on Progressive from $328.00 to $333.00 and gave the company an "overweight" rating in a research report on Friday, June 20th. Eight equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $285.41.

Progressive Trading Down 1.8%

NYSE PGR opened at $244.77 on Monday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.29 and a current ratio of 0.29. The firm has a market cap of $143.49 billion, a PE ratio of 16.51, a P/E/G ratio of 1.54 and a beta of 0.37. The Progressive Corporation has a one year low of $208.13 and a one year high of $292.99. The firm's fifty day moving average is $271.50 and its two-hundred day moving average is $265.89.

Progressive (NYSE:PGR - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $22.21 billion for the quarter, compared to analyst estimates of $21.87 billion. Progressive had a net margin of 11.10% and a return on equity of 33.50%. Analysts expect that The Progressive Corporation will post 14.68 earnings per share for the current year.

Progressive Announces Dividend

The company also recently declared a dividend, which was paid on Friday, July 11th. Stockholders of record on Friday, July 4th were paid a dividend of $0.10 per share. The ex-dividend date was Thursday, July 3rd. This represents a dividend yield of 0.15%. Progressive's dividend payout ratio (DPR) 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.

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