Forsta AP Fonden Reduces Holdings in The Progressive Co. (NYSE:PGR)

Forsta AP Fonden lessened its holdings in The Progressive Co. (NYSE:PGRFree Report) by 0.1% during the 4th quarter, Holdings Channel reports. The firm owned 173,900 shares of the insurance provider’s stock after selling 100 shares during the quarter. Forsta AP Fonden’s holdings in Progressive were worth $41,668,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Smith Group Asset Management LLC boosted its stake in shares of Progressive by 8.1% during the fourth quarter. Smith Group Asset Management LLC now owns 9,692 shares of the insurance provider’s stock valued at $2,322,000 after acquiring an additional 723 shares during the last quarter. Asset Dedication LLC raised its stake in Progressive by 4.8% in the 4th quarter. Asset Dedication LLC now owns 5,880 shares of the insurance provider’s stock valued at $1,409,000 after purchasing an additional 269 shares during the last quarter. R Squared Ltd purchased a new position in Progressive in the 4th quarter valued at about $690,000. BSW Wealth Partners boosted its stake in shares of Progressive by 2.5% during the 4th quarter. BSW Wealth Partners now owns 2,119 shares of the insurance provider’s stock worth $508,000 after purchasing an additional 52 shares during the last quarter. Finally, Falcon Wealth Planning purchased a new stake in shares of Progressive during the fourth quarter worth about $234,000. 85.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity 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 shares were sold at an average price of $242.10, for a total value of $46,241.10. Following the transaction, the chief accounting officer now directly owns 3,982 shares in the company, valued at approximately $964,042.20. This trade represents a 4.58 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Susan Patricia Griffith sold 9,066 shares of Progressive stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $242.10, for a total transaction of $2,194,878.60. Following the completion of the transaction, the chief executive officer now directly 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 disclosure for this sale can be found here. Insiders sold a total of 42,506 shares of company stock valued at $10,531,159 over the last three months. 0.34% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PGR. Hsbc Global Res downgraded shares of Progressive from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. HSBC lowered Progressive from a “buy” rating to a “hold” rating and set a $267.00 price target on the stock. in a research note on Tuesday, December 10th. Keefe, Bruyette & Woods dropped their target price on Progressive from $295.00 to $294.00 and set an “outperform” rating for the company in a research note on Friday, January 10th. BMO Capital Markets reduced their target price on Progressive from $273.00 to $267.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. Finally, Morgan Stanley lowered their price target on Progressive from $310.00 to $300.00 and set an “overweight” rating for the company in a report on Tuesday, January 21st. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Progressive has an average rating of “Moderate Buy” and an average price target of $274.65.

Read Our Latest Stock Analysis on PGR

Progressive Stock Down 0.8 %

PGR stock opened at $244.86 on Wednesday. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.25. The firm has a 50 day simple moving average of $247.89 and a 200-day simple moving average of $244.25. The company has a market capitalization of $143.44 billion, a P/E ratio of 17.80, a PEG ratio of 0.62 and a beta of 0.41. The Progressive Co. has a twelve month low of $175.50 and a twelve month high of $270.62.

Progressive Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Investors of record on Thursday, January 9th were paid a $0.10 dividend. The ex-dividend date was Friday, January 10th. This represents a $0.40 dividend on an annualized basis and a yield of 0.16%. Progressive’s dividend payout ratio (DPR) is 2.91%.

Progressive Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Progressive (NYSE:PGR)

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