Public Employees Retirement Association of Colorado Decreases Stake in The Progressive Co. (NYSE:PGR)

Public Employees Retirement Association of Colorado reduced its stake in shares of The Progressive Co. (NYSE:PGR - Free Report) by 3.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 79,112 shares of the insurance provider's stock after selling 2,537 shares during the period. Public Employees Retirement Association of Colorado's holdings in Progressive were worth $18,956,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in PGR. NZS Capital LLC lifted its holdings in shares of Progressive by 3.7% in the fourth quarter. NZS Capital LLC now owns 400,351 shares of the insurance provider's stock valued at $95,928,000 after purchasing an additional 14,366 shares in the last quarter. Quarry LP boosted its position in Progressive by 48.1% during the fourth quarter. Quarry LP now owns 952 shares of the insurance provider's stock worth $228,000 after acquiring an additional 309 shares during the last quarter. Rinkey Investments increased its stake in Progressive by 34.9% in the fourth quarter. Rinkey Investments now owns 8,537 shares of the insurance provider's stock valued at $2,046,000 after purchasing an additional 2,207 shares during the last quarter. Prosperity Consulting Group LLC lifted its position in Progressive by 3.1% during the fourth quarter. Prosperity Consulting Group LLC now owns 3,782 shares of the insurance provider's stock worth $906,000 after buying an additional 113 shares during the period. Finally, Aquatic Capital Management LLC grew its holdings in Progressive by 19.4% in the 4th quarter. Aquatic Capital Management LLC now owns 41,282 shares of the insurance provider's stock valued at $9,892,000 after buying an additional 6,701 shares during the period. Institutional investors and hedge funds own 85.34% of the company's stock.

Progressive Stock Down 0.0 %

Shares of PGR stock opened at $265.11 on Monday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.30 and a current ratio of 0.31. The business's fifty day moving average is $274.12 and its 200-day moving average is $258.36. The Progressive Co. has a 1 year low of $201.34 and a 1 year high of $292.99. The stock has a market cap of $155.42 billion, a PE ratio of 18.41, a price-to-earnings-growth ratio of 1.70 and a beta of 0.38.

Progressive (NYSE:PGR - Get Free Report) last issued its earnings results 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 firm 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%. Equities analysts expect that The Progressive Co. will post 14.68 earnings per share for the current fiscal year.

Progressive Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Thursday, April 3rd were given a $0.10 dividend. The ex-dividend date was Thursday, April 3rd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.15%. Progressive's dividend payout ratio (DPR) is 2.70%.

Insider Buying and Selling

In other Progressive news, Director Jeffrey D. Kelly sold 10,000 shares of Progressive stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $250.00, for a total transaction of $2,500,000.00. Following the transaction, the director now directly owns 27,741 shares in the company, valued at approximately $6,935,250. The trade was a 26.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Patrick K. Callahan sold 4,669 shares of the stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $279.70, for a total value 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. The trade was a 23.51 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 43,749 shares of company stock valued at $11,786,613. 0.34% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PGR. Morgan Stanley increased their price target on shares of Progressive from $300.00 to $307.00 and gave the stock an "overweight" rating in a research note on Friday, January 31st. Roth Mkm increased their price target on Progressive from $290.00 to $315.00 and gave the company a "buy" rating in a report on Tuesday, February 25th. Wells Fargo & Company upped their target price on Progressive from $320.00 to $324.00 and gave the stock an "overweight" rating in a research report on Thursday, April 17th. Keefe, Bruyette & Woods restated a "market perform" rating and issued a $288.00 price target on shares of Progressive in a report on Thursday, April 17th. Finally, Barclays boosted their price objective on shares of Progressive from $285.00 to $297.00 and gave the stock an "equal weight" rating in a report on Friday, April 11th. Nine investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $285.76.

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.

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