Triglav Skladi D.O.O. Acquires New Position in The Progressive Co. (NYSE:PGR)

Triglav Skladi D.O.O. bought a new stake in shares of The Progressive Co. (NYSE:PGR - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 28,615 shares of the insurance provider's stock, valued at approximately $6,856,000.

A number of other institutional investors have also added to or reduced their stakes in the business. Webster Bank N. A. bought a new stake in shares of Progressive in the 4th quarter valued at about $26,000. Hager Investment Management Services LLC bought a new stake in shares of Progressive in the 4th quarter valued at about $28,000. Atlantic Edge Private Wealth Management LLC boosted its holdings in shares of Progressive by 54.7% in the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 116 shares of the insurance provider's stock valued at $28,000 after buying an additional 41 shares in the last quarter. Minot DeBlois Advisors LLC bought a new stake in shares of Progressive in the 4th quarter valued at about $28,000. Finally, Valley National Advisers Inc. boosted its holdings in shares of Progressive by 3,000.0% in the 4th quarter. Valley National Advisers Inc. now owns 124 shares of the insurance provider's stock valued at $29,000 after buying an additional 120 shares in the last quarter. Hedge funds and other institutional investors own 85.34% of the company's stock.

Insiders Place Their Bets

In other news, insider Patrick K. Callahan sold 4,669 shares of the company's stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $279.70, for a total transaction of $1,305,919.30. Following the completion of the sale, the insider now owns 15,191 shares of the company's stock, valued at $4,248,922.70. This represents a 23.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Devin C. Johnson sold 400 shares of the company's stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $275.04, for a total transaction of $110,016.00. Following the sale, the director now directly owns 8,370 shares of the company's stock, valued at $2,302,084.80. The trade was a 4.56% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 39,894 shares of company stock worth $11,020,097. Company insiders own 0.34% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on PGR shares. Keefe, Bruyette & Woods reissued a "market perform" rating and set a $288.00 target price on shares of Progressive in a research report on Thursday, April 17th. UBS Group boosted their target price on shares of Progressive from $275.00 to $285.00 and gave the stock a "neutral" rating in a research report on Friday, March 14th. Bank of America raised shares of 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. Wall Street Zen downgraded shares of Progressive from a "buy" rating to a "hold" rating in a research report on Wednesday. Finally, BMO Capital Markets boosted their target price on shares of Progressive from $282.00 to $288.00 and gave the stock an "outperform" rating in a research report on Thursday, April 17th. Eight equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat, Progressive currently has an average rating of "Moderate Buy" and an average price target of $288.24.

Progressive Price Performance

NYSE:PGR traded down $4.10 during trading hours on Thursday, reaching $276.90. 2,505,671 shares of the company were exchanged, compared to its average volume of 2,644,619. The company has a current ratio of 0.31, a quick ratio of 0.30 and a debt-to-equity ratio of 0.27. The stock's 50-day moving average is $275.62 and its 200-day moving average is $262.42. The firm has a market cap of $162.33 billion, a PE ratio of 19.23, a price-to-earnings-growth ratio of 1.70 and a beta of 0.40. The Progressive Co. has a twelve month low of $201.34 and a twelve month high of $292.99.

Progressive (NYSE:PGR - Get Free Report) last posted its quarterly earnings data on Wednesday, April 16th. The insurance provider reported $4.65 earnings per share for the quarter, topping analysts' consensus estimates of $4.28 by $0.37. The company had revenue of $22.21 billion during the quarter, compared to analysts' expectations of $21.87 billion. Progressive had a net margin of 11.25% and a return on equity of 33.79%. On average, sell-side analysts anticipate that The Progressive Co. will post 14.68 earnings per share for the current fiscal year.

Progressive Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Thursday, April 3rd were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.14%. The ex-dividend date of this dividend was Thursday, April 3rd. Progressive's dividend payout ratio is presently 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.