Vise Technologies Inc. Has $1.61 Million Stake in The Progressive Co. (NYSE:PGR)

Vise Technologies Inc. raised its stake in shares of The Progressive Co. (NYSE:PGR - Free Report) by 133.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,715 shares of the insurance provider's stock after purchasing an additional 3,841 shares during the quarter. Vise Technologies Inc.'s holdings in Progressive were worth $1,609,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. AEGON ASSET MANAGEMENT UK Plc grew its position in Progressive by 40.4% during the 4th quarter. AEGON ASSET MANAGEMENT UK Plc now owns 238,250 shares of the insurance provider's stock worth $57,132,000 after acquiring an additional 68,589 shares during the last quarter. Synergy Asset Management LLC grew its position in Progressive by 100.3% during the 4th quarter. Synergy Asset Management LLC now owns 3,541 shares of the insurance provider's stock worth $875,000 after acquiring an additional 1,773 shares during the last quarter. Archer Investment Corp lifted its holdings in Progressive by 295.1% during the 4th quarter. Archer Investment Corp now owns 2,102 shares of the insurance provider's stock worth $504,000 after buying an additional 1,570 shares in the last quarter. Sycomore Asset Management lifted its holdings in Progressive by 42.8% during the 4th quarter. Sycomore Asset Management now owns 51,770 shares of the insurance provider's stock worth $13,066,000 after buying an additional 15,512 shares in the last quarter. Finally, Vivid Wealth Management LLC acquired a new position in Progressive during the 4th quarter worth $2,143,000. 85.34% of the stock is owned by institutional investors and hedge funds.

Progressive Stock Down 0.4%

Shares of Progressive stock traded down $1.07 during trading hours on Thursday, reaching $275.96. 747,538 shares of the company's stock were exchanged, compared to its average volume of 2,642,388. The company has a 50 day moving average of $275.46 and a two-hundred day moving average of $263.26. The Progressive Co. has a fifty-two week low of $201.34 and a fifty-two week high of $292.99. 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 has a market cap of $161.78 billion, a P/E ratio of 19.16, a P/E/G ratio of 1.70 and a beta of 0.40.

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, topping analysts' consensus estimates of $4.28 by $0.37. Progressive had a net margin of 11.25% and a return on equity of 33.79%. The company had revenue of $22.21 billion during the quarter, compared to the consensus estimate of $21.87 billion. On average, sell-side analysts forecast that The Progressive Co. will post 14.68 EPS for the current fiscal year.

Progressive Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Thursday, April 3rd were paid a $0.10 dividend. The ex-dividend date was Thursday, April 3rd. This represents a $0.40 annualized dividend and a yield of 0.14%. Progressive's dividend payout ratio (DPR) is currently 2.70%.

Insider Activity at Progressive

In other Progressive news, CIO Jonathan S. Bauer sold 1,227 shares of the firm's stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $281.00, for a total transaction of $344,787.00. Following the completion of the sale, the executive now directly owns 28,393 shares in the company, valued at $7,978,433. This trade represents a 4.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO John P. Sauerland sold 10,000 shares of the firm's stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $279.94, for a total transaction of $2,799,400.00. Following the sale, the chief financial officer now owns 269,566 shares of the company's stock, valued at $75,462,306.04. This trade represents a 3.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 53,651 shares of company stock worth $14,817,180. Insiders own 0.33% of the company's stock.

Analysts Set New Price Targets

Several research analysts have issued reports on PGR shares. Bank of America raised Progressive from a "neutral" rating to a "buy" rating and set a $312.00 price objective on the stock in a report on Monday, April 28th. JPMorgan Chase & Co. upped their target price on shares of Progressive from $267.00 to $287.00 and gave the company an "overweight" rating in a research report on Tuesday, April 8th. Wall Street Zen downgraded Progressive from a "buy" rating to a "hold" rating in a research note on Wednesday, May 21st. Roth Mkm increased their price target on Progressive from $290.00 to $315.00 and gave the company a "buy" rating in a research note on Tuesday, February 25th. Finally, Jefferies Financial Group cut their price target on Progressive from $327.00 to $319.00 and set a "buy" rating on the stock in a research note on Friday, April 11th. Eight equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, Progressive currently has an average rating of "Moderate Buy" and a consensus price target of $288.59.

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.