True North Advisors LLC Acquires 194 Shares of The Progressive Co. (NYSE:PGR)

True North Advisors LLC boosted its holdings in The Progressive Co. (NYSE:PGR) by 23.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,014 shares of the insurance provider’s stock after buying an additional 194 shares during the period. True North Advisors LLC’s holdings in Progressive were worth $243,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Versant Capital Management Inc raised its stake in Progressive by 98.2% during the 4th quarter. Versant Capital Management Inc now owns 789 shares of the insurance provider’s stock valued at $189,000 after purchasing an additional 391 shares during the last quarter. Townsquare Capital LLC increased its holdings in shares of Progressive by 90.9% during the 3rd quarter. Townsquare Capital LLC now owns 7,813 shares of the insurance provider’s stock worth $1,983,000 after purchasing an additional 3,720 shares during the period. Diversified Trust Co raised its position in shares of Progressive by 84.3% during the third quarter. Diversified Trust Co now owns 25,738 shares of the insurance provider’s stock valued at $6,531,000 after buying an additional 11,770 shares during the last quarter. Sycomore Asset Management lifted its stake in shares of Progressive by 9.5% in the second quarter. Sycomore Asset Management now owns 28,128 shares of the insurance provider’s stock valued at $5,856,000 after buying an additional 2,450 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Progressive by 7.0% during 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 worth $1,286,036,000 after buying an additional 330,667 shares in the last quarter. 85.34% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Keefe, Bruyette & Woods cut their price target on Progressive from $295.00 to $294.00 and set an “outperform” rating for the company in a report on Friday, January 10th. Hsbc Global Res lowered Progressive from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Evercore ISI lifted their price target on shares of Progressive from $277.00 to $285.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. TD Cowen boosted their price target on shares of Progressive from $197.00 to $237.00 and gave the company a “hold” rating in a report on Friday, November 8th. Finally, StockNews.com raised shares of Progressive from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $274.65.

Insider Activity at Progressive

In related news, CEO Susan Patricia Griffith sold 9,066 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $242.10, for a total value of $2,194,878.60. Following the completion of the sale, the chief executive officer now owns 473,736 shares of the company’s stock, valued at $114,691,485.60. This trade represents a 1.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Andrew J. Quigg sold 962 shares of the business’s stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $243.29, for a total transaction of $234,044.98. Following the completion of the transaction, the insider now owns 34,787 shares of the company’s stock, valued at $8,463,329.23. This trade represents a 2.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 42,506 shares of company stock valued at $10,531,159 over the last ninety days. 0.34% of the stock is owned by insiders.

Progressive Stock Up 0.2 %

NYSE PGR opened at $239.58 on Friday. The stock’s 50 day simple moving average is $248.98 and its 200 day simple moving average is $243.14. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.30 and a quick ratio of 0.30. The Progressive Co. has a one year low of $175.50 and a one year high of $270.62. The firm has a market cap of $140.35 billion, a PE ratio of 17.41, a price-to-earnings-growth ratio of 0.63 and a beta of 0.41.

Progressive Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Thursday, January 9th were paid a $0.10 dividend. The ex-dividend date of this dividend was Friday, January 10th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.17%. Progressive’s dividend payout ratio (DPR) is presently 2.91%.

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.