The Progressive Co. (NYSE:PGR) Shares Sold by Terra Nova Asset Management LLC

Terra Nova Asset Management LLC decreased its stake in shares of The Progressive Co. (NYSE:PGR) by 1.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,715 shares of the insurance provider’s stock after selling 75 shares during the period. Terra Nova Asset Management LLC’s holdings in Progressive were worth $1,848,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. State Street Corp grew its position in shares of Progressive by 1.3% in the third quarter. State Street Corp now owns 24,683,807 shares of the insurance provider’s stock valued at $6,263,763,000 after purchasing an additional 315,411 shares during the period. Geode Capital Management LLC grew its position in shares of Progressive by 13.2% in the third quarter. Geode Capital Management LLC now owns 14,425,792 shares of the insurance provider’s stock valued at $3,652,235,000 after purchasing an additional 1,682,213 shares during the period. FMR LLC grew its position in shares of Progressive by 1.6% in the third quarter. FMR LLC now owns 10,518,615 shares of the insurance provider’s stock valued at $2,669,204,000 after purchasing an additional 170,618 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Progressive by 7.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,067,924 shares of the insurance provider’s stock valued at $1,286,036,000 after purchasing an additional 330,667 shares during the period. Finally, Legal & General Group Plc increased its stake in Progressive by 1.9% during the second quarter. Legal & General Group Plc now owns 4,922,743 shares of the insurance provider’s stock worth $1,022,507,000 after acquiring an additional 92,212 shares during the last quarter. Hedge funds and other institutional investors own 85.34% of the company’s stock.

Insider Activity

In other news, insider Andrew J. Quigg sold 681 shares of the firm’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $242.10, for a total transaction of $164,870.10. Following the completion of the sale, the insider now directly owns 33,612 shares of the company’s stock, valued at $8,137,465.20. This trade represents a 1.99 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO John P. Sauerland sold 10,000 shares of the firm’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $268.09, for a total value of $2,680,900.00. Following the sale, the chief financial officer now directly owns 292,958 shares of the company’s stock, valued at approximately $78,539,110.22. This represents a 3.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 29,938 shares of company stock worth $7,473,490. 0.34% of the stock is owned by company insiders.

Progressive Stock Down 0.7 %

Shares of PGR stock opened at $243.79 on Monday. The Progressive Co. has a 1 year low of $166.92 and a 1 year high of $270.62. The stock has a market cap of $142.82 billion, a PE ratio of 17.72, a price-to-earnings-growth ratio of 0.61 and a beta of 0.41. The business’s fifty day moving average is $250.18 and its 200-day moving average is $242.49. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.30 and a current ratio of 0.30.

Progressive Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Thursday, January 9th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.16%. The ex-dividend date of this dividend was Friday, January 10th. Progressive’s dividend payout ratio (DPR) is presently 2.91%.

Analysts Set New Price Targets

PGR has been the subject of several research analyst reports. Jefferies Financial Group upped their price target on Progressive from $257.00 to $295.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Barclays reduced 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 target on Progressive from $277.00 to $285.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. TD Cowen increased their target price on Progressive from $197.00 to $237.00 and gave the stock a “hold” rating in a report on Friday, November 8th. Finally, Wells Fargo & Company increased their target price on Progressive from $299.00 to $302.00 and gave the stock an “overweight” rating in a report on Monday, December 16th. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $275.24.

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.