The Progressive Co. (NYSE:PGR) Stock Holdings Increased by Cumberland Partners Ltd

Cumberland Partners Ltd raised its holdings in shares of The Progressive Co. (NYSE:PGR) by 18.2% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 7,680 shares of the insurance provider’s stock after purchasing an additional 1,180 shares during the quarter. Cumberland Partners Ltd’s holdings in Progressive were worth $1,840,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in PGR. Versant Capital Management Inc grew its holdings in shares of Progressive by 98.2% in the 4th quarter. Versant Capital Management Inc now owns 789 shares of the insurance provider’s stock worth $189,000 after acquiring an additional 391 shares during the last quarter. Townsquare Capital LLC boosted its position in shares of Progressive by 90.9% in the 3rd quarter. Townsquare Capital LLC now owns 7,813 shares of the insurance provider’s stock valued at $1,983,000 after purchasing an additional 3,720 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Progressive by 7.0% in the 3rd 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 worth $1,286,036,000 after purchasing an additional 330,667 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in Progressive by 2,262.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 433,999 shares of the insurance provider’s stock worth $103,990,000 after buying an additional 415,628 shares during the period. Finally, Signal Advisors Wealth LLC lifted its stake in Progressive by 42.3% during the fourth quarter. Signal Advisors Wealth LLC now owns 11,889 shares of the insurance provider’s stock valued at $2,849,000 after buying an additional 3,534 shares in the last quarter. Institutional investors and hedge funds own 85.34% of the company’s stock.

Progressive Trading Up 2.2 %

Progressive stock opened at $269.71 on Thursday. The business has a 50 day moving average price of $246.11 and a two-hundred day moving average price of $248.36. The company has a quick ratio of 0.30, a current ratio of 0.31 and a debt-to-equity ratio of 0.27. The Progressive Co. has a 12 month low of $186.94 and a 12 month high of $270.79. The stock has a market cap of $158.00 billion, a price-to-earnings ratio of 18.73, a price-to-earnings-growth ratio of 0.66 and a beta of 0.42.

Progressive (NYSE:PGR) last issued its earnings results on Wednesday, January 29th. The insurance provider reported $4.08 EPS for the quarter, beating 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%. As a group, equities analysts forecast that The Progressive Co. will post 14.44 EPS for the current year.

Progressive Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Investors of record on Thursday, January 9th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.15%. The ex-dividend date of this dividend was Friday, January 10th. Progressive’s dividend payout ratio (DPR) is currently 2.78%.

Insider Activity at Progressive

In other news, CAO Mariann Wojtkun Marshall sold 191 shares of the stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $242.10, for a total transaction of $46,241.10. Following the sale, the chief accounting officer now directly owns 3,982 shares of the company’s stock, valued at $964,042.20. This represents a 4.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO John P. Sauerland sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $268.09, for a total transaction of $2,680,900.00. Following the completion of the transaction, the chief financial officer now owns 292,958 shares of the company’s stock, valued at $78,539,110.22. This trade represents a 3.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 56,361 shares of company stock valued at $13,983,575 in the last ninety days. Insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on PGR shares. Hsbc Global Res downgraded shares of Progressive from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Wells Fargo & Company upped their price target on Progressive from $302.00 to $313.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. HSBC lowered Progressive from a “buy” rating to a “hold” rating and set a $267.00 price objective for the company. in a research report on Tuesday, December 10th. TD Cowen upped their target price on Progressive from $197.00 to $237.00 and gave the company a “hold” rating in a report on Friday, November 8th. Finally, Bank of America raised their price target on shares of Progressive from $331.00 to $335.00 and gave the stock a “buy” rating in a report on Monday, November 18th. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $275.88.

Progressive 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.