The Progressive Co. (NYSE:PGR) Shares Sold by Avantax Advisory Services Inc.

Avantax Advisory Services Inc. trimmed its holdings in The Progressive Co. (NYSE:PGRFree Report) by 11.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 28,136 shares of the insurance provider’s stock after selling 3,642 shares during the period. Avantax Advisory Services Inc.’s holdings in Progressive were worth $6,742,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. State Street Corp raised its position in shares of Progressive by 1.3% in 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 purchasing an additional 315,411 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Progressive by 13.2% in the 3rd quarter. Geode Capital Management LLC now owns 14,425,792 shares of the insurance provider’s stock valued at $3,652,235,000 after acquiring an additional 1,682,213 shares during the last quarter. FMR LLC increased its holdings in shares of Progressive by 1.6% in the 3rd quarter. FMR LLC now owns 10,518,615 shares of the insurance provider’s stock valued at $2,669,204,000 after acquiring an additional 170,618 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Progressive by 7.0% in 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 during the last quarter. Finally, Jennison Associates LLC increased its holdings in shares of Progressive by 21.6% in the 3rd quarter. Jennison Associates LLC now owns 4,749,628 shares of the insurance provider’s stock valued at $1,205,266,000 after acquiring an additional 842,109 shares during the last quarter. 85.34% of the stock is owned by institutional investors and hedge funds.

Progressive Stock Up 0.7 %

Shares of Progressive stock opened at $279.54 on Friday. The Progressive Co. has a 1 year low of $199.54 and a 1 year high of $287.49. The business has a 50-day moving average of $257.30 and a two-hundred day moving average of $253.68. The company has a market capitalization of $163.87 billion, a P/E ratio of 19.41, a price-to-earnings-growth ratio of 1.70 and a beta of 0.35. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.31 and a quick ratio of 0.30.

Progressive (NYSE:PGRGet Free Report) last released its quarterly earnings data on Wednesday, January 29th. The insurance provider reported $4.08 earnings per share (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%. As a group, equities analysts predict that The Progressive Co. will post 14.68 EPS for the current year.

Progressive Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Thursday, April 3rd will be issued a $0.10 dividend. The ex-dividend date is Thursday, April 3rd. This represents a $0.40 annualized dividend and a yield of 0.14%. Progressive’s dividend payout ratio is presently 2.78%.

Analyst Ratings Changes

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 report on Tuesday, December 10th. BMO Capital Markets lowered their price target on Progressive from $273.00 to $267.00 and set an “outperform” rating for the company in a report on Monday, December 16th. StockNews.com downgraded Progressive from a “buy” rating to a “hold” rating in a report on Friday. Morgan Stanley boosted their price target on Progressive from $300.00 to $307.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Finally, Barclays upped their price objective on Progressive from $264.00 to $285.00 and gave the stock an “equal weight” rating in a research note on Thursday. Seven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, Progressive presently has an average rating of “Moderate Buy” and an average target price of $277.82.

View Our Latest Analysis on PGR

Insider Activity

In other Progressive news, CFO John P. Sauerland sold 10,000 shares of the company’s stock in a transaction dated 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 owns 282,958 shares in the company, valued at approximately $67,530,756.28. The trade was a 3.41 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Andrew J. Quigg sold 681 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now directly owns 33,612 shares in the company, valued at approximately $8,137,465.20. This trade represents a 1.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 62,257 shares of company stock worth $15,752,781. Insiders own 0.34% of the company’s stock.

Progressive 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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