New York State Common Retirement Fund Decreases Holdings in The Progressive Co. (NYSE:PGR)

New York State Common Retirement Fund decreased its holdings in The Progressive Co. (NYSE:PGR) by 3.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 797,824 shares of the insurance provider’s stock after selling 29,200 shares during the period. New York State Common Retirement Fund owned 0.14% of Progressive worth $202,456,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Progressive by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 51,751,851 shares of the insurance provider’s stock worth $10,703,318,000 after purchasing an additional 285,070 shares during the period. Capital International Investors raised its holdings in shares of Progressive by 15.7% in the first quarter. Capital International Investors now owns 4,925,019 shares of the insurance provider’s stock worth $1,018,592,000 after buying an additional 670,006 shares during the period. Legal & General Group Plc lifted its stake in shares of Progressive by 1.9% during the 2nd 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. American Century Companies Inc. lifted its stake in shares of Progressive by 3.0% during the 2nd quarter. American Century Companies Inc. now owns 2,392,773 shares of the insurance provider’s stock worth $497,003,000 after acquiring an additional 69,709 shares during the last quarter. Finally, TD Asset Management Inc boosted its holdings in Progressive by 16.8% during the 1st quarter. TD Asset Management Inc now owns 1,698,526 shares of the insurance provider’s stock valued at $351,289,000 after acquiring an additional 244,541 shares during the period. 85.34% of the stock is owned by institutional investors.

Insider Activity

In other Progressive news, CEO Susan Patricia Griffith sold 43,370 shares of Progressive stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $252.20, for a total value of $10,937,914.00. Following the transaction, the chief executive officer now directly owns 473,735 shares in the company, valued at approximately $119,475,967. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO Susan Patricia Griffith sold 43,370 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $252.20, for a total value of $10,937,914.00. Following the transaction, the chief executive officer now owns 473,735 shares of the company’s stock, valued at approximately $119,475,967. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Dyke Kahina Van sold 2,180 shares of the stock in a transaction on Friday, September 27th. The stock was sold at an average price of $252.28, for a total value of $549,970.40. Following the sale, the director now directly owns 13,723 shares of the company’s stock, valued at approximately $3,462,038.44. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 74,843 shares of company stock valued at $18,674,912. 0.34% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms recently commented on PGR. BMO Capital Markets reduced their price target on shares of Progressive from $239.00 to $237.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. JPMorgan Chase & Co. raised their target price on shares of Progressive from $242.00 to $251.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Piper Sandler lifted their price target on shares of Progressive from $250.00 to $252.00 and gave the company an “overweight” rating in a research note on Thursday, August 15th. StockNews.com cut Progressive from a “buy” rating to a “hold” rating in a research note on Friday. Finally, Hsbc Global Res upgraded Progressive from a “hold” rating to a “strong-buy” rating in a report on Monday, August 12th. Seven equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $263.19.

Progressive Stock Up 0.6 %

PGR stock traded up $1.35 during trading on Friday, hitting $244.18. 670,068 shares of the company’s stock were exchanged, compared to its average volume of 2,458,056. The stock has a market capitalization of $143.01 billion, a price-to-earnings ratio of 17.64, a PEG ratio of 0.67 and a beta of 0.35. The Progressive Co. has a 52-week low of $149.14 and a 52-week high of $260.46. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.30. The business has a 50-day moving average price of $250.85 and a two-hundred day moving average price of $226.41.

Progressive Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Thursday, October 3rd were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.16%. The ex-dividend date of this dividend was Thursday, October 3rd. Progressive’s dividend payout ratio is currently 2.91%.

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.