Bristol John W & Co. Inc. NY lowered its stake in shares of The Progressive Co. (NYSE:PGR - Free Report) by 4.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 371,429 shares of the insurance provider's stock after selling 18,809 shares during the quarter. Bristol John W & Co. Inc. NY owned about 0.06% of Progressive worth $59,161,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also bought and sold shares of PGR. Valley National Advisers Inc. increased its holdings in Progressive by 143.6% in the 4th quarter. Valley National Advisers Inc. now owns 190 shares of the insurance provider's stock valued at $30,000 after buying an additional 112 shares during the period. Harbour Investments Inc. increased its holdings in Progressive by 109.1% in the 3rd quarter. Harbour Investments Inc. now owns 207 shares of the insurance provider's stock valued at $29,000 after buying an additional 108 shares during the period. Sunbelt Securities Inc. bought a new stake in Progressive in the 1st quarter valued at $31,000. Pinnacle Bancorp Inc. bought a new stake in Progressive in the 4th quarter valued at $39,000. Finally, Arlington Trust Co LLC bought a new stake in shares of Progressive in the 3rd quarter worth about $36,000. Institutional investors own 85.34% of the company's stock.
Insider Activity at Progressive
In related news, insider Andrew J. Quigg sold 551 shares of the stock in a transaction that occurred on Wednesday, January 17th. The shares were sold at an average price of $169.24, for a total value of $93,251.24. Following the sale, the insider now directly owns 27,921 shares in the company, valued at approximately $4,725,350.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Patrick K. Callahan sold 29,675 shares of the stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $190.26, for a total transaction of $5,645,965.50. Following the completion of the sale, the insider now directly owns 15,189 shares of the company's stock, valued at approximately $2,889,859.14. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Andrew J. Quigg sold 551 shares of the stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $169.24, for a total value of $93,251.24. Following the sale, the insider now directly owns 27,921 shares of the company's stock, valued at $4,725,350.04. The disclosure for this sale can be found here. Insiders have sold 44,629 shares of company stock worth $8,348,176 in the last ninety days. Company insiders own 0.34% of the company's stock.
Progressive Trading Up 0.8 %
Progressive stock traded up $1.64 during trading hours on Friday, reaching $203.90. 5,368,049 shares of the company's stock traded hands, compared to its average volume of 2,779,024. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.31 and a current ratio of 0.31. The Progressive Co. has a fifty-two week low of $111.41 and a fifty-two week high of $212.24. The firm has a market capitalization of $119.42 billion, a price-to-earnings ratio of 20.87, a PEG ratio of 0.88 and a beta of 0.35. The firm's 50 day moving average is $197.15 and its 200-day moving average is $173.13.
Progressive (NYSE:PGR - Get Free Report) last announced its quarterly earnings results on Friday, April 12th. The insurance provider reported $3.73 earnings per share for the quarter, beating analysts' consensus estimates of $3.20 by $0.53. The business had revenue of $18.96 billion for the quarter, compared to the consensus estimate of $16.88 billion. Progressive had a net margin of 6.28% and a return on equity of 21.25%. Progressive's revenue for the quarter was up 17.7% on a year-over-year basis. During the same period last year, the company posted $0.65 EPS. On average, analysts predict that The Progressive Co. will post 10.5 earnings per share for the current year.
Progressive Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Thursday, April 4th were given a $0.10 dividend. The ex-dividend date was Wednesday, April 3rd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.20%. Progressive's dividend payout ratio is 4.09%.
Analyst Ratings Changes
PGR has been the topic of several analyst reports. Morgan Stanley upped their target price on shares of Progressive from $228.00 to $247.00 and gave the stock an "overweight" rating in a report on Thursday. Wells Fargo & Company upped their target price on shares of Progressive from $232.00 to $238.00 and gave the stock an "overweight" rating in a report on Thursday. BMO Capital Markets upped their target price on shares of Progressive from $185.00 to $200.00 and gave the stock an "outperform" rating in a report on Thursday, January 25th. Keefe, Bruyette & Woods upped their price target on shares of Progressive from $190.00 to $200.00 and gave the stock a "market perform" rating in a research report on Wednesday. Finally, JPMorgan Chase & Co. upped their price target on shares of Progressive from $171.00 to $202.00 and gave the stock an "overweight" rating in a research report on Monday, April 8th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $196.56.
Get Our Latest Analysis on Progressive
Progressive Profile
(
Free Report)
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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