Credit Agricole S A Has $104.08 Million Stock Position in The Progressive Corporation $PGR

Key Points

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Credit Agricole S A grew its position in shares of The Progressive Corporation (NYSE:PGR - Free Report) by 0.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 367,759 shares of the insurance provider's stock after acquiring an additional 1,588 shares during the quarter. Credit Agricole S A owned 0.06% of Progressive worth $104,079,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Progressive by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 54,022,956 shares of the insurance provider's stock worth $15,289,037,000 after acquiring an additional 622,590 shares during the last quarter. GQG Partners LLC raised its stake in shares of Progressive by 61.4% during the 1st quarter. GQG Partners LLC now owns 8,346,133 shares of the insurance provider's stock worth $2,362,039,000 after purchasing an additional 3,174,632 shares in the last quarter. Northern Trust Corp raised its stake in shares of Progressive by 13.0% during the 4th quarter. Northern Trust Corp now owns 6,179,529 shares of the insurance provider's stock worth $1,480,677,000 after purchasing an additional 710,684 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Progressive by 18.1% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,983,567 shares of the insurance provider's stock worth $1,433,722,000 after purchasing an additional 915,643 shares in the last quarter. Finally, Deutsche Bank AG raised its stake in shares of Progressive by 6.6% during the 4th quarter. Deutsche Bank AG now owns 5,447,442 shares of the insurance provider's stock worth $1,305,262,000 after purchasing an additional 337,146 shares in the last quarter. Institutional investors and hedge funds own 85.34% of the company's stock.

Progressive Stock Down 0.0%

PGR stock opened at $247.05 on Tuesday. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.31 and a quick ratio of 0.31. The stock has a market capitalization of $144.82 billion, a price-to-earnings ratio of 13.92, a PEG ratio of 1.46 and a beta of 0.33. The business's fifty day moving average price is $252.66 and its two-hundred day moving average price is $266.51. The Progressive Corporation has a fifty-two week low of $228.54 and a fifty-two week high of $292.99.

Progressive (NYSE:PGR - Get Free Report) last posted its quarterly earnings data on Wednesday, July 16th. The insurance provider reported $4.88 earnings per share for the quarter, topping the consensus estimate of $4.43 by $0.45. The firm had revenue of $20.08 billion for the quarter, compared to analysts' expectations of $20.39 billion. Progressive had a return on equity of 35.37% and a net margin of 12.66%. The company's quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter last year, the business earned $2.48 EPS. On average, equities analysts anticipate that The Progressive Corporation will post 14.68 earnings per share for the current year.

Progressive Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Thursday, October 2nd will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.2%. Progressive's payout ratio is 2.25%.

Insider Activity

In other Progressive news, CFO John P. Sauerland sold 16,664 shares of the stock in a transaction on Monday, July 28th. The stock was sold at an average price of $249.24, for a total transaction of $4,153,335.36. Following the transaction, the chief financial officer owned 228,024 shares in the company, valued at $56,832,701.76. This trade represents a 6.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Patrick K. Callahan sold 6,232 shares of the firm's stock in a transaction on Monday, July 28th. The stock was sold at an average price of $242.16, for a total value of $1,509,141.12. Following the completion of the transaction, the insider owned 27,844 shares in the company, valued at $6,742,703.04. The trade was a 18.29% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 112,313 shares of company stock worth $28,349,549. Corporate insiders own 0.34% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Wells Fargo & Company upped their price objective on Progressive from $328.00 to $333.00 and gave the stock an "overweight" rating in a research note on Friday, June 20th. Cantor Fitzgerald upgraded Progressive to a "hold" rating in a research note on Wednesday, August 13th. Wall Street Zen cut Progressive from a "buy" rating to a "hold" rating in a research note on Friday, July 18th. Keefe, Bruyette & Woods dropped their price objective on Progressive from $290.00 to $268.00 and set a "market perform" rating on the stock in a research note on Thursday, July 17th. Finally, Evercore ISI cut Progressive from an "outperform" rating to an "in-line" rating and set a $275.00 price target on the stock. in a research note on Thursday, July 17th. Ten analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $284.88.

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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