Rothschild Investment Corp IL lifted its holdings in shares of The Progressive Co. (NYSE:PGR) by 68.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,675 shares of the insurance provider’s stock after acquiring an additional 13,238 shares during the quarter. Rothschild Investment Corp IL’s holdings in The Progressive were worth $3,124,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also bought and sold shares of PGR. Norges Bank acquired a new position in shares of The Progressive during the 4th quarter valued at $606,960,000. FMR LLC lifted its holdings in shares of The Progressive by 34.4% during the 4th quarter. FMR LLC now owns 8,266,610 shares of the insurance provider’s stock valued at $817,401,000 after acquiring an additional 2,116,632 shares in the last quarter. Maj Invest Holding A S lifted its holdings in shares of The Progressive by 52.8% during the 4th quarter. Maj Invest Holding A S now owns 4,084,695 shares of the insurance provider’s stock valued at $403,894,000 after acquiring an additional 1,411,006 shares in the last quarter. FIL Ltd lifted its holdings in shares of The Progressive by 44.8% during the 4th quarter. FIL Ltd now owns 3,749,686 shares of the insurance provider’s stock valued at $370,769,000 after acquiring an additional 1,160,044 shares in the last quarter. Finally, Viking Global Investors LP acquired a new position in shares of The Progressive during the 4th quarter valued at $88,510,000. Institutional investors and hedge funds own 81.47% of the company’s stock.
Several research firms recently weighed in on PGR. B. Riley lifted their target price on shares of The Progressive from $88.00 to $96.00 and gave the company a “neutral” rating in a report on Thursday, January 7th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of The Progressive from $108.00 to $105.00 and set a “buy” rating on the stock in a research note on Monday, February 1st. The Goldman Sachs Group downgraded shares of The Progressive from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $92.00 to $90.00 in a research note on Friday, January 8th. Raymond James reaffirmed a “buy” rating on shares of The Progressive in a research note on Monday, February 22nd. Finally, Zacks Investment Research downgraded shares of The Progressive from a “hold” rating to a “sell” rating and set a $92.00 price target on the stock. in a research note on Thursday, January 28th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company’s stock. The Progressive currently has a consensus rating of “Hold” and an average target price of $96.69.
Shares of NYSE:PGR opened at $98.76 on Monday. The company has a current ratio of 0.45, a quick ratio of 0.45 and a debt-to-equity ratio of 0.31. The company has a 50 day moving average of $92.73 and a 200-day moving average of $93.10. The Progressive Co. has a twelve month low of $71.25 and a twelve month high of $102.05. The firm has a market cap of $57.79 billion, a P/E ratio of 11.47, a P/E/G ratio of 2.58 and a beta of 0.45.
The Progressive (NYSE:PGR) last released its quarterly earnings results on Wednesday, April 14th. The insurance provider reported $1.72 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $1.72. The Progressive had a net margin of 12.13% and a return on equity of 28.89%. The business had revenue of $11.73 billion for the quarter, compared to analyst estimates of $11.24 billion. During the same quarter in the previous year, the business earned $1.17 earnings per share. The firm’s revenue was up 18.8% compared to the same quarter last year. Equities research analysts forecast that The Progressive Co. will post 7.4 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 15th. Shareholders of record on Wednesday, April 7th were paid a $0.10 dividend. The ex-dividend date was Tuesday, April 6th. This represents a $0.40 annualized dividend and a yield of 0.41%. The Progressive’s dividend payout ratio is presently 5.95%.
In other The Progressive news, insider Daniel P. Mascaro sold 2,351 shares of the company’s stock in a transaction that occurred on Wednesday, February 3rd. The shares were sold at an average price of $86.17, for a total value of $202,585.67. Following the transaction, the insider now owns 35,050 shares in the company, valued at approximately $3,020,258.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO John P. Sauerland sold 12,000 shares of the company’s stock in a transaction that occurred on Thursday, March 18th. The shares were sold at an average price of $91.40, for a total transaction of $1,096,800.00. Following the completion of the transaction, the chief financial officer now owns 332,721 shares in the company, valued at approximately $30,410,699.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 15,594 shares of company stock worth $1,418,589. Company insiders own 0.38% of the company’s stock.
About The Progressive
The Progressive Corporation, an insurance holding company, provides personal and commercial auto, personal residential and commercial property, 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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