Capco Asset Management LLC Has $77.97 Million Position in The Progressive Co. (NYSE:PGR)

Capco Asset Management LLC decreased its holdings in shares of The Progressive Co. (NYSE:PGR) by 1.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 325,422 shares of the insurance provider’s stock after selling 5,121 shares during the period. Progressive comprises 17.5% of Capco Asset Management LLC’s portfolio, making the stock its biggest holding. Capco Asset Management LLC’s holdings in Progressive were worth $77,974,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Atlantic Edge Private Wealth Management LLC lifted its stake in Progressive by 54.7% during the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 116 shares of the insurance provider’s stock worth $28,000 after purchasing an additional 41 shares during the period. LRI Investments LLC raised its stake in shares of Progressive by 16.5% in the third quarter. LRI Investments LLC now owns 296 shares of the insurance provider’s stock valued at $76,000 after acquiring an additional 42 shares during the last quarter. Washington Trust Bank raised its stake in shares of Progressive by 4.1% in the fourth quarter. Washington Trust Bank now owns 1,066 shares of the insurance provider’s stock valued at $255,000 after acquiring an additional 42 shares during the last quarter. SYM FINANCIAL Corp raised its stake in shares of Progressive by 2.8% in the fourth quarter. SYM FINANCIAL Corp now owns 1,602 shares of the insurance provider’s stock valued at $384,000 after acquiring an additional 44 shares during the last quarter. Finally, Monument Capital Management raised its stake in shares of Progressive by 0.3% in the fourth quarter. Monument Capital Management now owns 13,762 shares of the insurance provider’s stock valued at $3,298,000 after acquiring an additional 44 shares during the last quarter. Institutional investors own 85.34% of the company’s stock.

Wall Street Analysts Forecast Growth

PGR has been the subject of a number of research analyst reports. UBS Group lifted their target price on shares of Progressive from $275.00 to $285.00 and gave the company a “neutral” rating in a research note on Friday, March 14th. BMO Capital Markets cut their target price on shares of Progressive from $273.00 to $267.00 and set an “outperform” rating for the company in a research note on Monday, December 16th. Hsbc Global Res cut shares of Progressive from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Roth Mkm boosted their price objective on shares of Progressive from $290.00 to $315.00 and gave the stock a “buy” rating in a research report on Tuesday, February 25th. Finally, HSBC cut shares of 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. Six 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.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $281.06.

Insider Activity

In other news, CFO John P. Sauerland sold 10,000 shares of the business’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $238.66, for a total value of $2,386,600.00. Following the completion of the transaction, the chief financial officer now owns 282,958 shares of the company’s stock, valued at $67,530,756.28. The trade was a 3.41 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Andrew J. Quigg sold 681 shares of the business’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $242.10, for a total transaction of $164,870.10. Following the completion of the transaction, the insider now directly owns 33,612 shares of the company’s stock, valued at $8,137,465.20. This trade represents a 1.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 65,495 shares of company stock valued at $16,668,034 in the last quarter. Company insiders own 0.34% of the company’s stock.

Progressive Price Performance

PGR opened at $273.08 on Friday. The company has a fifty day moving average price of $261.96 and a two-hundred day moving average price of $254.99. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.30 and a current ratio of 0.31. The Progressive Co. has a 52 week low of $201.34 and a 52 week high of $292.99. The firm has a market capitalization of $160.08 billion, a PE ratio of 18.96, a P/E/G ratio of 1.70 and a beta of 0.35.

Progressive (NYSE:PGR) last released its earnings results on Wednesday, January 29th. The insurance provider reported $4.08 EPS for the quarter, topping analysts’ consensus estimates of $3.44 by $0.64. Progressive had a net margin of 11.25% and a return on equity of 33.79%. As a group, analysts anticipate that The Progressive Co. will post 14.68 earnings per share for the current year.

Progressive Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Thursday, April 3rd will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.15%. The ex-dividend date of this dividend is Thursday, April 3rd. Progressive’s dividend payout ratio (DPR) is 2.78%.

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.