The Progressive Co. (NYSE:PGR) Position Trimmed by Aubrey Capital Management Ltd

Aubrey Capital Management Ltd lessened its holdings in shares of The Progressive Co. (NYSE:PGR) by 25.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,100 shares of the insurance provider’s stock after selling 4,900 shares during the quarter. Progressive makes up 1.3% of Aubrey Capital Management Ltd’s investment portfolio, making the stock its 28th largest holding. Aubrey Capital Management Ltd’s holdings in Progressive were worth $3,380,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Eukles Asset Management grew its stake in shares of Progressive by 0.4% in the 4th quarter. Eukles Asset Management now owns 18,227 shares of the insurance provider’s stock valued at $4,367,000 after buying an additional 81 shares in the last quarter. Sycomore Asset Management grew its stake in shares of Progressive by 42.8% in the 4th quarter. Sycomore Asset Management now owns 51,770 shares of the insurance provider’s stock valued at $13,066,000 after buying an additional 15,512 shares in the last quarter. Wingate Wealth Advisors Inc. bought a new stake in shares of Progressive in the 4th quarter valued at approximately $89,000. Savant Capital LLC grew its stake in shares of Progressive by 4.4% in the 4th quarter. Savant Capital LLC now owns 17,528 shares of the insurance provider’s stock valued at $4,200,000 after buying an additional 738 shares in the last quarter. Finally, Angeles Wealth Management LLC grew its stake in shares of Progressive by 3.8% in the 4th quarter. Angeles Wealth Management LLC now owns 4,179 shares of the insurance provider’s stock valued at $1,001,000 after buying an additional 154 shares in the last quarter. Hedge funds and other institutional investors own 85.34% of the company’s stock.

Progressive Stock Performance

Shares of NYSE PGR opened at $250.64 on Monday. The business has a fifty day simple moving average of $245.24 and a 200 day simple moving average of $245.80. The company has a current ratio of 0.31, a quick ratio of 0.30 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $146.83 billion, a price-to-earnings ratio of 17.41, a PEG ratio of 0.64 and a beta of 0.42. The Progressive Co. has a one year low of $180.72 and a one year high of $270.62.

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%. Sell-side analysts expect that The Progressive Co. will post 14.44 EPS for the current year.

Progressive Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Thursday, January 9th were given a $0.10 dividend. 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 dividend payout ratio (DPR) is 2.78%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Barclays lowered their price target on Progressive from $277.00 to $261.00 and set an “equal weight” rating for the company in a research note on Monday, January 6th. HSBC lowered Progressive from a “buy” rating to a “hold” rating and set a $267.00 target price for the company. in a report on Tuesday, December 10th. BMO Capital Markets reduced their target price on Progressive from $273.00 to $267.00 and set an “outperform” rating for the company in a report on Monday, December 16th. Hsbc Global Res lowered Progressive from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. Finally, TD Cowen boosted their target price on Progressive from $197.00 to $237.00 and gave the stock a “hold” rating in a report on Friday, November 8th. Seven research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, Progressive presently has a consensus rating of “Moderate Buy” and a consensus price target of $275.71.

Insider Buying and Selling at Progressive

In other Progressive news, insider Andrew J. Quigg sold 681 shares of the company’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $242.10, for a total value of $164,870.10. Following the sale, the insider now directly owns 33,612 shares in the company, valued at $8,137,465.20. This represents a 1.99 % 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, insider Lori A. Niederst sold 3,855 shares of the company’s stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $247.06, for a total value of $952,416.30. Following the completion of the sale, the insider now owns 39,040 shares in the company, valued at $9,645,222.40. This trade represents a 8.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 56,361 shares of company stock worth $13,983,575 over the last three months. Company insiders own 0.34% of the company’s stock.

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.