Fisher Funds Management LTD Has $28.44 Million Stock Holdings in The Progressive Corporation (NYSE:PGR)

Fisher Funds Management LTD increased its holdings in shares of The Progressive Corporation (NYSE:PGR - Free Report) by 3.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 100,485 shares of the insurance provider's stock after buying an additional 3,730 shares during the period. Fisher Funds Management LTD's holdings in Progressive were worth $28,438,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Norges Bank bought a new stake in Progressive during the 4th quarter valued at $1,843,045,000. GAMMA Investing LLC lifted its position in Progressive by 39,285.0% in the 1st quarter. GAMMA Investing LLC now owns 3,046,037 shares of the insurance provider's stock valued at $862,059,000 after acquiring an additional 3,038,303 shares in the last quarter. GQG Partners LLC increased its holdings in Progressive by 67.6% during the 4th quarter. GQG Partners LLC now owns 5,171,501 shares of the insurance provider's stock worth $1,239,143,000 after purchasing an additional 2,085,833 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Progressive in the fourth quarter worth approximately $408,416,000. Finally, Capital Research Global Investors lifted its holdings in shares of Progressive by 34.3% in the fourth quarter. Capital Research Global Investors now owns 6,058,187 shares of the insurance provider's stock valued at $1,451,602,000 after purchasing an additional 1,547,677 shares in the last quarter. 85.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Progressive

In other news, Director Dyke Kahina Van sold 2,490 shares of the firm's stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $277.67, for a total value of $691,398.30. Following the completion of the transaction, the director owned 12,429 shares in the company, valued at $3,451,160.43. This trade represents a 16.69% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider John Jo Murphy sold 4,000 shares of the business's stock in a transaction on Friday, June 20th. The shares were sold at an average price of $260.38, for a total transaction of $1,041,520.00. Following the sale, the insider owned 41,289 shares in the company, valued at approximately $10,750,829.82. This trade represents a 8.83% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 42,705 shares of company stock worth $11,450,948. 0.34% of the stock is owned by corporate insiders.

Analyst Ratings Changes

PGR has been the topic of several analyst reports. UBS Group boosted their price target on shares of Progressive from $285.00 to $291.00 and gave the stock a "neutral" rating in a report on Wednesday, May 28th. Jefferies Financial Group dropped their price objective on shares of Progressive from $327.00 to $319.00 and set a "buy" rating on the stock in a report on Friday, April 11th. Morgan Stanley set a $330.00 price target on shares of Progressive and gave the company an "overweight" rating in a research note on Monday, May 19th. Bank of America raised Progressive from a "neutral" rating to a "buy" rating and set a $312.00 price target for the company in a report on Monday, April 28th. Finally, BMO Capital Markets raised their target price on Progressive from $282.00 to $288.00 and gave the stock an "outperform" rating in a research note on Thursday, April 17th. Seven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $288.88.

Progressive Stock Performance

NYSE PGR opened at $260.30 on Friday. The company has a 50-day simple moving average of $274.38 and a two-hundred day simple moving average of $265.18. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.24. The Progressive Corporation has a 12-month low of $207.50 and a 12-month high of $292.99. The firm has a market cap of $152.59 billion, a price-to-earnings ratio of 17.55, a PEG ratio of 1.58 and a beta of 0.37.

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. Progressive had a return on equity of 33.50% and a net margin of 11.10%. The business had revenue of $22.21 billion during the quarter, compared to analyst estimates of $21.87 billion. On average, equities analysts forecast that The Progressive Corporation will post 14.68 EPS for the current year.

Progressive Dividend Announcement

The business also recently disclosed a dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, July 4th will be given a dividend of $0.10 per share. This represents a yield of 0.15%. The ex-dividend date is Thursday, July 3rd. Progressive's payout ratio is currently 2.70%.

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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