The Progressive Co. (NYSE:PGR) Stock Position Raised by Liberty One Investment Management LLC

Liberty One Investment Management LLC grew its holdings in The Progressive Co. (NYSE:PGR) by 11.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,303 shares of the insurance provider’s stock after purchasing an additional 135 shares during the period. Liberty One Investment Management LLC’s holdings in Progressive were worth $312,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. State Street Corp grew its stake in Progressive by 1.3% during the 3rd quarter. State Street Corp now owns 24,683,807 shares of the insurance provider’s stock valued at $6,263,763,000 after acquiring an additional 315,411 shares in the last quarter. Geode Capital Management LLC lifted its position in Progressive by 13.2% in the 3rd quarter. Geode Capital Management LLC now owns 14,425,792 shares of the insurance provider’s stock worth $3,652,235,000 after buying an additional 1,682,213 shares in the last quarter. FMR LLC boosted its stake in shares of Progressive by 1.6% during the 3rd quarter. FMR LLC now owns 10,518,615 shares of the insurance provider’s stock valued at $2,669,204,000 after buying an additional 170,618 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Progressive by 7.0% during 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 valued at $1,286,036,000 after acquiring an additional 330,667 shares in the last quarter. Finally, Legal & General Group Plc boosted its position in Progressive by 1.9% during the second quarter. Legal & General Group Plc now owns 4,922,743 shares of the insurance provider’s stock valued at $1,022,507,000 after purchasing an additional 92,212 shares during the last quarter. Institutional investors and hedge funds own 85.34% of the company’s stock.

Progressive Stock Down 0.7 %

PGR opened at $243.79 on Monday. The Progressive Co. has a fifty-two week low of $166.92 and a fifty-two week high of $270.62. The company has a market capitalization of $142.82 billion, a P/E ratio of 17.72, a P/E/G ratio of 0.61 and a beta of 0.41. 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 firm’s fifty day moving average price is $250.18 and its two-hundred day moving average price is $242.49.

Progressive Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Thursday, January 9th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.16%. The ex-dividend date was Friday, January 10th. Progressive’s payout ratio is 2.91%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Hsbc Global Res downgraded Progressive from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. JPMorgan Chase & Co. raised their price objective on shares of Progressive from $251.00 to $256.00 and gave the company an “overweight” rating in a research report on Friday, January 3rd. Bank of America raised their price target on shares of Progressive from $331.00 to $335.00 and gave the company a “buy” rating in a report on Monday, November 18th. TD Cowen upped their price objective on shares of Progressive from $197.00 to $237.00 and gave the stock a “hold” rating in a report on Friday, November 8th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $310.00 price target on shares of Progressive in a research note on Friday, December 13th. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $275.24.

Insider Activity

In other Progressive news, CFO John P. Sauerland sold 10,000 shares of the company’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $238.66, for a total value of $2,386,600.00. Following the sale, the chief financial officer now directly owns 282,958 shares in the company, valued at $67,530,756.28. This represents a 3.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Mariann Wojtkun Marshall sold 191 shares of the company’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $242.10, for a total transaction of $46,241.10. Following the completion of the sale, the chief accounting officer now directly owns 3,982 shares in the company, valued at approximately $964,042.20. The trade was a 4.58 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 29,938 shares of company stock worth $7,473,490. Company insiders own 0.34% of the company’s stock.

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.