Linden Thomas Advisory Services LLC Has $944,000 Stake in The Progressive Co. (NYSE:PGR)

Linden Thomas Advisory Services LLC boosted its stake in shares of The Progressive Co. (NYSE:PGR) by 31.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,940 shares of the insurance provider’s stock after buying an additional 936 shares during the quarter. Linden Thomas Advisory Services LLC’s holdings in Progressive were worth $944,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in PGR. Versant Capital Management Inc boosted its holdings in Progressive by 98.2% in the fourth quarter. Versant Capital Management Inc now owns 789 shares of the insurance provider’s stock valued at $189,000 after acquiring an additional 391 shares during the last quarter. Townsquare Capital LLC increased its position in shares of Progressive by 90.9% during the third quarter. Townsquare Capital LLC now owns 7,813 shares of the insurance provider’s stock worth $1,983,000 after buying an additional 3,720 shares during the period. Diversified Trust Co raised its stake in Progressive by 84.3% during the third quarter. Diversified Trust Co now owns 25,738 shares of the insurance provider’s stock worth $6,531,000 after buying an additional 11,770 shares during the last quarter. Sycomore Asset Management boosted its position in Progressive by 9.5% during the second quarter. Sycomore Asset Management now owns 28,128 shares of the insurance provider’s stock valued at $5,856,000 after acquiring an additional 2,450 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Progressive by 7.0% during 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 worth $1,286,036,000 after acquiring an additional 330,667 shares during the period. Institutional investors own 85.34% of the company’s stock.

Progressive Stock Down 0.4 %

Shares of NYSE:PGR opened at $238.58 on Friday. The business’s 50 day moving average is $248.27 and its 200 day moving average is $243.31. The Progressive Co. has a 12-month low of $175.50 and a 12-month high of $270.62. The stock has a market cap of $139.76 billion, a price-to-earnings ratio of 17.34, a PEG ratio of 0.62 and a beta of 0.41. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.25.

Progressive Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Thursday, January 9th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.17%. The ex-dividend date of this dividend was Friday, January 10th. Progressive’s dividend payout ratio is 2.91%.

Insider Transactions at Progressive

In related news, CEO Susan Patricia Griffith sold 11,021 shares of Progressive stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $243.29, for a total transaction of $2,681,299.09. Following the sale, the chief executive officer now directly owns 473,736 shares in the company, valued at approximately $115,255,231.44. This trade represents a 2.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Andrew J. Quigg sold 681 shares of the company’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $242.10, for a total value of $164,870.10. Following the completion of the transaction, the insider now 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 a total of 42,506 shares of company stock worth $10,531,159 in the last quarter. 0.34% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on PGR shares. Jefferies Financial Group boosted their price objective on Progressive from $257.00 to $295.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Wells Fargo & Company increased their price target on Progressive from $299.00 to $302.00 and gave the stock an “overweight” rating in a report on Monday, December 16th. HSBC lowered shares of Progressive from a “buy” rating to a “hold” rating and set a $267.00 price objective for the company. in a research note on Tuesday, December 10th. Raymond James upgraded shares of Progressive from a “market perform” rating to an “outperform” rating and set a $305.00 price target for the company in a report on Thursday, December 26th. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of Progressive from $295.00 to $294.00 and set an “outperform” rating on the stock in a report on Friday, January 10th. Six investment 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, Progressive presently has an average rating of “Moderate Buy” and an average price target of $274.65.

Progressive Company 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.