The Progressive Co. (NYSE:PGR) Shares Sold by Dynamic Advisor Solutions LLC

Dynamic Advisor Solutions LLC lowered its position in The Progressive Co. (NYSE:PGR) by 2.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,821 shares of the insurance provider’s stock after selling 97 shares during the quarter. Dynamic Advisor Solutions LLC’s holdings in Progressive were worth $915,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Geode Capital Management LLC raised its position in Progressive by 13.2% during the third quarter. Geode Capital Management LLC now owns 14,425,792 shares of the insurance provider’s stock worth $3,652,235,000 after acquiring an additional 1,682,213 shares during the last quarter. Jennison Associates LLC raised its position in shares of Progressive by 21.6% during the 3rd quarter. Jennison Associates LLC now owns 4,749,628 shares of the insurance provider’s stock worth $1,205,266,000 after purchasing an additional 842,109 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec raised its position in shares of Progressive by 75.3% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,494,084 shares of the insurance provider’s stock worth $379,139,000 after purchasing an additional 641,943 shares during the last quarter. International Assets Investment Management LLC lifted its stake in Progressive by 29,701.6% in the 3rd quarter. International Assets Investment Management LLC now owns 596,331 shares of the insurance provider’s stock valued at $151,325,000 after buying an additional 594,330 shares in the last quarter. Finally, SG Americas Securities LLC increased its position in Progressive by 206.8% during the third quarter. SG Americas Securities LLC now owns 875,660 shares of the insurance provider’s stock worth $222,207,000 after buying an additional 590,235 shares in the last quarter. Institutional investors and hedge funds own 85.34% of the company’s stock.

Progressive Price Performance

Progressive stock opened at $238.58 on Monday. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $139.76 billion, a P/E ratio of 17.34, a PEG ratio of 0.62 and a beta of 0.41. The firm has a fifty day moving average of $248.27 and a 200-day moving average of $243.55. The Progressive Co. has a 52-week low of $175.50 and a 52-week high of $270.62.

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 paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.17%. The ex-dividend date was Friday, January 10th. Progressive’s dividend payout ratio is presently 2.91%.

Insider Transactions at Progressive

In other news, CAO Mariann Wojtkun Marshall sold 191 shares of the firm’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 $964,042.20. This trade represents a 4.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO John P. Sauerland sold 10,000 shares of the business’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $268.09, for a total value of $2,680,900.00. Following the completion of the transaction, the chief financial officer now owns 292,958 shares in the company, valued at approximately $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 42,506 shares of company stock valued at $10,531,159 over the last quarter. Company insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on PGR shares. Jefferies Financial Group upped their price objective on Progressive from $257.00 to $295.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Morgan Stanley decreased their price target on shares of Progressive from $310.00 to $300.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 21st. TD Cowen lifted their price target on shares of Progressive from $197.00 to $237.00 and gave the stock a “hold” rating in a report on Friday, November 8th. Bank of America upped their price objective on shares of Progressive from $331.00 to $335.00 and gave the company a “buy” rating in a research note on Monday, November 18th. Finally, Wells Fargo & Company lifted their target price on shares of Progressive from $299.00 to $302.00 and gave the stock an “overweight” rating in a research note on Monday, December 16th. Six research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $274.65.

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.