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

Sompo Asset Management Co. Ltd. decreased its position in shares of The Progressive Co. (NYSE:PGRFree Report) by 45.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,030 shares of the insurance provider’s stock after selling 3,380 shares during the period. Sompo Asset Management Co. Ltd.’s holdings in Progressive were worth $642,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PGR. Sachetta LLC acquired a new stake in shares of Progressive in the 4th quarter valued at about $25,000. Valley National Advisers Inc. grew its position in shares of Progressive by 143.6% in the 4th quarter. Valley National Advisers Inc. now owns 190 shares of the insurance provider’s stock worth $30,000 after acquiring an additional 112 shares in the last quarter. Pinnacle Bancorp Inc. bought a new stake in shares of Progressive in the 4th quarter valued at approximately $39,000. Criterion Capital Advisors LLC acquired a new stake in shares of Progressive during the 4th quarter valued at approximately $47,000. Finally, BOK Financial Private Wealth Inc. acquired a new position in Progressive in the fourth quarter worth $48,000. 85.34% of the stock is owned by hedge funds and other institutional investors.

Progressive Stock Down 0.3 %

Shares of Progressive stock traded down $0.66 during trading on Friday, hitting $212.53. 2,113,087 shares of the stock traded hands, compared to its average volume of 2,338,871. The stock has a market cap of $124.48 billion, a P/E ratio of 21.75, a PEG ratio of 0.81 and a beta of 0.35. The company has a fifty day moving average price of $209.53 and a two-hundred day moving average price of $188.67. The Progressive Co. has a twelve month low of $111.41 and a twelve month high of $217.77. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.32 and a current ratio of 0.32.

Progressive (NYSE:PGRGet Free Report) last announced its earnings results on Friday, April 12th. The insurance provider reported $3.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.20 by $0.74. Progressive had a net margin of 8.89% and a return on equity of 29.43%. The business had revenue of $18.96 billion for the quarter, compared to analyst estimates of $16.88 billion. During the same quarter in the previous year, the firm posted $0.65 earnings per share. Progressive’s revenue was up 17.7% compared to the same quarter last year. Equities research analysts predict that The Progressive Co. will post 11.64 EPS for the current fiscal year.

Progressive Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Wednesday, July 3rd will be issued a $0.10 dividend. The ex-dividend date of this dividend is Wednesday, July 3rd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.19%. Progressive’s payout ratio is presently 4.09%.

Insider Buying and Selling at Progressive

In other news, CFO John P. Sauerland sold 12,457 shares of the stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $204.43, for a total transaction of $2,546,584.51. Following the sale, the chief financial officer now owns 312,958 shares in the company, valued at $63,978,003.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Progressive news, insider Steven Broz sold 7,361 shares of the stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $207.25, for a total value of $1,525,567.25. Following the transaction, the insider now owns 35,503 shares of the company’s stock, valued at $7,357,996.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO John P. Sauerland sold 12,457 shares of the business’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $204.43, for a total value of $2,546,584.51. Following the transaction, the chief financial officer now owns 312,958 shares of the company’s stock, valued at $63,978,003.94. The disclosure for this sale can be found here. Over the last three months, insiders sold 20,818 shares of company stock valued at $4,280,482. 0.34% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently weighed in on PGR shares. Bank of America increased their price target on Progressive from $279.00 to $286.00 and gave the stock a “buy” rating in a research report on Thursday, May 16th. JPMorgan Chase & Co. increased their price objective on shares of Progressive from $171.00 to $202.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. HSBC upped their target price on shares of Progressive from $174.00 to $200.00 and gave the stock a “hold” rating in a research report on Thursday, March 28th. The Goldman Sachs Group lifted their price target on Progressive from $161.00 to $216.00 and gave the company a “neutral” rating in a report on Monday, March 25th. Finally, Morgan Stanley raised their target price on Progressive from $228.00 to $247.00 and gave the company an “overweight” rating in a research report on Thursday, April 11th. One analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $215.19.

View Our Latest Stock Report on PGR

Progressive Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Progressive (NYSE:PGR)

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