Dimensional Fund Advisors LP Has $245.45 Million Stake in The Progressive Co. (NYSE:PGR)

Dimensional Fund Advisors LP trimmed its position in shares of The Progressive Co. (NYSE:PGR – Get Rating) by 8.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,391,064 shares of the insurance provider’s stock after selling 225,482 shares during the period. Dimensional Fund Advisors LP owned approximately 0.41% of Progressive worth $245,449,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in PGR. Oakworth Capital Inc. acquired a new stake in shares of Progressive in the 3rd quarter valued at approximately $27,000. TAP Consulting LLC acquired a new stake in shares of Progressive in the 4th quarter valued at approximately $28,000. Capital Advisors Ltd. LLC boosted its stake in shares of Progressive by 117.5% in the 4th quarter. Capital Advisors Ltd. LLC now owns 298 shares of the insurance provider’s stock valued at $31,000 after purchasing an additional 161 shares in the last quarter. Ellevest Inc. boosted its stake in shares of Progressive by 116.8% in the 4th quarter. Ellevest Inc. now owns 310 shares of the insurance provider’s stock valued at $32,000 after purchasing an additional 167 shares in the last quarter. Finally, CVA Family Office LLC acquired a new stake in shares of Progressive in the 4th quarter valued at approximately $34,000. Hedge funds and other institutional investors own 83.68% of the company’s stock.

Several research firms recently commented on PGR. Evercore ISI upgraded shares of Progressive from an “in-line” rating to an “outperform” rating and lifted their target price for the stock from $90.00 to $118.00 in a research report on Thursday, January 6th. Barclays lifted their target price on shares of Progressive from $85.00 to $88.00 and gave the stock an “underweight” rating in a research report on Thursday, March 17th. The Goldman Sachs Group downgraded shares of Progressive from a “buy” rating to a “neutral” rating and set a $116.00 target price on the stock. in a research report on Wednesday, March 2nd. StockNews.com began coverage on shares of Progressive in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Finally, UBS Group downgraded shares of Progressive from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $106.00 to $114.00 in a research report on Monday, February 14th. They noted that the move was a valuation call. Seven investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $103.20.

Progressive stock opened at $115.84 on Thursday. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.28. The Progressive Co. has a 12-month low of $89.35 and a 12-month high of $120.17. The firm’s fifty day moving average is $111.03 and its 200 day moving average is $104.49. The company has a market capitalization of $67.75 billion, a PE ratio of 31.48, a PEG ratio of 1.32 and a beta of 0.50.

The business also recently announced a quarterly dividend, which was paid on Thursday, April 14th. Investors of record on Thursday, April 7th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Wednesday, April 6th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.35%. Progressive’s payout ratio is presently 10.87%.

In other Progressive news, CEO Susan Patricia Griffith sold 46,735 shares of the business’s stock in a transaction on Friday, March 18th. The shares were sold at an average price of $110.26, for a total transaction of $5,153,001.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jeffrey D. Kelly sold 10,000 shares of the business’s stock in a transaction on Thursday, April 7th. The shares were sold at an average price of $120.00, for a total transaction of $1,200,000.00. Following the sale, the director now owns 48,720 shares of the company’s stock, valued at approximately $5,846,400. The disclosure for this sale can be found here. Insiders have sold a total of 76,958 shares of company stock worth $8,629,753 in the last quarter. 0.37% of the stock is owned by corporate insiders.

About Progressive (Get Rating)

The Progressive Corporation, an insurance holding company, provides personal and commercial auto, personal residential and commercial property, 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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