The Progressive Co. (NYSE:PGR) Shares Sold by Mn Services Vermogensbeheer B.V.

Mn Services Vermogensbeheer B.V. trimmed its position in The Progressive Co. (NYSE:PGR - Free Report) by 3.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 277,573 shares of the insurance provider's stock after selling 9,000 shares during the period. Mn Services Vermogensbeheer B.V.'s holdings in Progressive were worth $44,212,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Louisiana State Employees Retirement System purchased a new position in Progressive in the 4th quarter worth $5,639,000. Crestwood Advisors Group LLC lifted its holdings in shares of Progressive by 18.3% during the fourth quarter. Crestwood Advisors Group LLC now owns 1,978 shares of the insurance provider's stock worth $315,000 after purchasing an additional 306 shares during the period. Simplicity Solutions LLC boosted its position in Progressive by 2.4% in the fourth quarter. Simplicity Solutions LLC now owns 11,607 shares of the insurance provider's stock valued at $1,849,000 after buying an additional 269 shares during the last quarter. Graypoint LLC increased its holdings in Progressive by 5.3% in the 4th quarter. Graypoint LLC now owns 3,854 shares of the insurance provider's stock worth $614,000 after buying an additional 195 shares during the period. Finally, ORG Partners LLC boosted its holdings in shares of Progressive by 17.0% in the 4th quarter. ORG Partners LLC now owns 1,247 shares of the insurance provider's stock valued at $199,000 after acquiring an additional 181 shares during the last quarter. 85.34% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Progressive

In other Progressive news, insider Karen Bailo sold 8,464 shares of the firm's stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $189.49, for a total value of $1,603,843.36. Following the transaction, the insider now directly owns 32,342 shares of the company's stock, valued at approximately $6,128,485.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Karen Bailo sold 8,464 shares of Progressive stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $189.49, for a total transaction of $1,603,843.36. Following the transaction, the insider now owns 32,342 shares in the company, valued at approximately $6,128,485.58. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Susan Patricia Griffith sold 5,939 shares of the company's stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $169.24, for a total transaction of $1,005,116.36. Following the completion of the sale, the chief executive officer now directly owns 465,737 shares of the company's stock, valued at approximately $78,821,329.88. The disclosure for this sale can be found here. Insiders sold 44,629 shares of company stock valued at $8,348,176 over the last 90 days. 0.34% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

PGR has been the subject of a number of research reports. HSBC boosted their target price on shares of Progressive from $174.00 to $200.00 and gave the company a "hold" rating in a research report on Thursday, March 28th. Morgan Stanley raised their target price on Progressive from $228.00 to $247.00 and gave the stock an "overweight" rating in a report on Thursday. Wells Fargo & Company lifted their price target on Progressive from $232.00 to $238.00 and gave the company an "overweight" rating in a research report on Thursday. JPMorgan Chase & Co. upped their price objective on Progressive from $171.00 to $202.00 and gave the stock an "overweight" rating in a research report on Monday, April 8th. Finally, UBS Group lifted their target price on shares of Progressive from $159.00 to $170.00 and gave the company a "neutral" rating in a report on Wednesday, January 10th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $196.56.

Progressive Price Performance

Progressive stock traded up $1.64 during midday trading on Friday, reaching $203.90. The company had a trading volume of 5,368,049 shares, compared to its average volume of 2,779,024. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.31 and a quick ratio of 0.31. The Progressive Co. has a 12-month low of $111.41 and a 12-month high of $212.24. The company has a market capitalization of $119.42 billion, a P/E ratio of 30.99, a P/E/G ratio of 0.87 and a beta of 0.35. The firm's fifty day simple moving average is $197.15 and its 200-day simple moving average is $172.90.

Progressive (NYSE:PGR - Get Free Report) last released its earnings results on Friday, April 12th. The insurance provider reported $3.73 earnings per share for the quarter, beating the consensus estimate of $3.20 by $0.53. Progressive had a return on equity of 21.25% and a net margin of 6.28%. The business had revenue of $18.96 billion for the quarter, compared to the consensus estimate of $16.88 billion. During the same quarter last year, the business posted $0.65 earnings per share. The business's quarterly revenue was up 17.7% compared to the same quarter last year. As a group, equities analysts anticipate that The Progressive Co. will post 10.3 EPS for the current year.

Progressive Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Thursday, April 4th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.20%. The ex-dividend date of this dividend was Wednesday, April 3rd. Progressive's payout ratio is 6.08%.

About Progressive

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.