The Progressive Co. (NYSE:PGR) Shares Sold by Asset Management One Co. Ltd.

Asset Management One Co. Ltd. decreased its holdings in The Progressive Co. (NYSE:PGR) by 1.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 246,012 shares of the insurance provider’s stock after selling 3,384 shares during the period. Asset Management One Co. Ltd.’s holdings in Progressive were worth $59,294,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Webster Bank N. A. acquired a new position in Progressive during the 4th quarter worth $26,000. Hager Investment Management Services LLC purchased a new position in shares of Progressive in the 4th quarter valued at about $28,000. Atlantic Edge Private Wealth Management LLC raised its holdings in Progressive by 54.7% in the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 116 shares of the insurance provider’s stock valued at $28,000 after acquiring an additional 41 shares in the last quarter. Valley National Advisers Inc. grew its holdings in Progressive by 3,000.0% during the 4th quarter. Valley National Advisers Inc. now owns 124 shares of the insurance provider’s stock worth $29,000 after acquiring an additional 120 shares in the last quarter. Finally, DiNuzzo Private Wealth Inc. increased its position in shares of Progressive by 114.1% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 137 shares of the insurance provider’s stock valued at $35,000 after purchasing an additional 73 shares during the last quarter. Hedge funds and other institutional investors own 85.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on PGR. Keefe, Bruyette & Woods decreased their price objective on shares of Progressive from $295.00 to $294.00 and set an “outperform” rating for the company in a research report on Friday, January 10th. Barclays decreased their price target on Progressive from $277.00 to $261.00 and set an “equal weight” rating for the company in a report on Monday, January 6th. Evercore ISI increased their price objective on Progressive from $277.00 to $285.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. Hsbc Global Res lowered Progressive from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Finally, HSBC downgraded Progressive from a “buy” rating to a “hold” rating and set a $267.00 price target for the company. in a report on Tuesday, December 10th. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $275.71.

Insider Buying and Selling at Progressive

In other news, insider Lori A. Niederst sold 3,855 shares of the business’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $247.06, for a total value of $952,416.30. Following the sale, the insider now owns 39,040 shares of the company’s stock, valued at approximately $9,645,222.40. The trade was a 8.99 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jeffrey D. Kelly sold 10,000 shares of the 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 sale, the director now directly owns 27,741 shares of the company’s stock, valued at approximately $6,935,250. This represents a 26.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 56,361 shares of company stock worth $13,983,575. 0.34% of the stock is owned by insiders.

Progressive Price Performance

Progressive stock opened at $262.02 on Friday. The firm has a fifty day moving average of $244.79 and a 200-day moving average of $246.64. The company has a quick ratio of 0.30, a current ratio of 0.31 and a debt-to-equity ratio of 0.27. The Progressive Co. has a 52-week low of $182.23 and a 52-week high of $270.62. The firm has a market capitalization of $153.49 billion, a P/E ratio of 18.20, a PEG ratio of 0.64 and a beta of 0.42.

Progressive (NYSE:PGR) last announced its earnings results on Wednesday, January 29th. The insurance provider reported $4.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.44 by $0.64. Progressive had a return on equity of 33.79% and a net margin of 11.25%. As a group, analysts predict that The Progressive Co. will post 14.44 EPS for the current year.

Progressive Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Investors of record on Thursday, January 9th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.15%. The ex-dividend date was Friday, January 10th. Progressive’s dividend payout ratio (DPR) is 2.78%.

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.