TIAA Trust National Association Buys 627 Shares of The Progressive Co. (NYSE:PGR)

TIAA Trust National Association lifted its position in The Progressive Co. (NYSE:PGR) by 8.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,733 shares of the insurance provider’s stock after acquiring an additional 627 shares during the quarter. TIAA Trust National Association’s holdings in Progressive were worth $1,853,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Great Valley Advisor Group Inc. lifted its position in shares of Progressive by 67.1% during the 3rd quarter. Great Valley Advisor Group Inc. now owns 2,788 shares of the insurance provider’s stock worth $707,000 after buying an additional 1,120 shares in the last quarter. Kingsview Wealth Management LLC lifted its holdings in Progressive by 20.1% during the third quarter. Kingsview Wealth Management LLC now owns 2,001 shares of the insurance provider’s stock worth $508,000 after acquiring an additional 335 shares during the period. Larson Financial Group LLC boosted its position in Progressive by 541.2% in the third quarter. Larson Financial Group LLC now owns 218 shares of the insurance provider’s stock worth $55,000 after purchasing an additional 184 shares during the last quarter. Loomis Sayles & Co. L P grew its stake in Progressive by 638.4% in the 3rd quarter. Loomis Sayles & Co. L P now owns 3,825 shares of the insurance provider’s stock valued at $971,000 after purchasing an additional 3,307 shares during the period. Finally, Associated Banc Corp purchased a new stake in shares of Progressive during the 3rd quarter valued at $223,000. Hedge funds and other institutional investors own 85.34% of the company’s stock.

Insider Transactions at Progressive

In other news, Director Devin C. Johnson sold 400 shares of the business’s stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $275.04, for a total value of $110,016.00. Following the completion of the sale, the director now owns 8,370 shares of the company’s stock, valued at approximately $2,302,084.80. The trade was a 4.56 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO John P. Sauerland sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $238.66, for a total value of $2,386,600.00. Following the completion of the sale, the chief financial officer now owns 282,958 shares of the company’s stock, valued at $67,530,756.28. The trade was a 3.41 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 66,255 shares of company stock valued at $16,877,471 in the last quarter. Insiders own 0.34% of the company’s stock.

Progressive Stock Performance

NYSE PGR opened at $272.49 on Thursday. The company’s 50 day simple moving average is $264.03 and its two-hundred day simple moving average is $255.49. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.31 and a quick ratio of 0.30. The Progressive Co. has a 1 year low of $201.34 and a 1 year high of $292.99. The stock has a market capitalization of $159.74 billion, a PE ratio of 18.92, a P/E/G ratio of 1.70 and a beta of 0.35.

Progressive (NYSE:PGR) last issued its quarterly earnings data 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%. Analysts predict that The Progressive Co. will post 14.68 earnings per share for the current fiscal year.

Progressive Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Thursday, April 3rd will be paid a $0.10 dividend. The ex-dividend date is Thursday, April 3rd. This represents a $0.40 dividend on an annualized basis and a yield of 0.15%. Progressive’s dividend payout ratio is presently 2.78%.

Wall Street Analysts Forecast Growth

PGR has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods boosted their price target on shares of Progressive from $294.00 to $300.00 and gave the stock an “outperform” rating in a report on Thursday, March 20th. Bank of America dropped their target price on shares of Progressive from $318.00 to $300.00 and set a “buy” rating on the stock in a research note on Thursday, March 20th. UBS Group lifted their price target on shares of Progressive from $275.00 to $285.00 and gave the stock a “neutral” rating in a report on Friday, March 14th. Barclays upped their price objective on Progressive from $264.00 to $285.00 and gave the company an “equal weight” rating in a research note on Thursday, March 13th. Finally, BMO Capital Markets decreased their target price on Progressive from $273.00 to $267.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, Progressive presently has a consensus rating of “Moderate Buy” and an average target price of $281.06.

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.