The Progressive Co. (NYSE:PGR) Shares Purchased by Mather Group LLC.

Mather Group LLC. raised its holdings in shares of The Progressive Co. (NYSE:PGR) by 9.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,981 shares of the insurance provider’s stock after acquiring an additional 514 shares during the period. Mather Group LLC.’s holdings in Progressive were worth $1,433,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Versant Capital Management Inc boosted its stake in Progressive by 98.2% during the 4th quarter. Versant Capital Management Inc now owns 789 shares of the insurance provider’s stock valued at $189,000 after purchasing an additional 391 shares in the last quarter. Townsquare Capital LLC boosted its stake in Progressive by 90.9% during the third quarter. Townsquare Capital LLC now owns 7,813 shares of the insurance provider’s stock valued at $1,983,000 after buying an additional 3,720 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Progressive by 7.0% during the third 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. Assenagon Asset Management S.A. raised its position in Progressive by 2,262.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 433,999 shares of the insurance provider’s stock worth $103,990,000 after acquiring an additional 415,628 shares in the last quarter. Finally, Nordea Investment Management AB boosted its position in shares of Progressive by 30.5% during the 4th quarter. Nordea Investment Management AB now owns 1,069,697 shares of the insurance provider’s stock valued at $255,882,000 after purchasing an additional 249,958 shares in the last quarter. Institutional investors and hedge funds own 85.34% of the company’s stock.

Progressive Trading Down 0.3 %

Shares of NYSE:PGR opened at $248.13 on Wednesday. The Progressive Co. has a 12-month low of $179.90 and a 12-month high of $270.62. The company has a quick ratio of 0.30, a current ratio of 0.31 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $145.35 billion, a P/E ratio of 17.23, a price-to-earnings-growth ratio of 0.63 and a beta of 0.42. The firm has a fifty day moving average of $246.68 and a two-hundred day moving average of $245.09.

Progressive (NYSE:PGR) last issued its earnings results on Wednesday, January 29th. The insurance provider reported $4.08 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%. On average, equities analysts expect that The Progressive Co. will post 14.4 EPS for the current fiscal year.

Progressive Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Investors of record on Thursday, January 9th were issued 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 is currently 2.78%.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Jefferies Financial Group boosted their target price on shares of Progressive from $257.00 to $295.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. TD Cowen increased their price objective on Progressive from $197.00 to $237.00 and gave the company a “hold” rating in a research report on Friday, November 8th. BMO Capital Markets decreased their target price on Progressive from $273.00 to $267.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. JPMorgan Chase & Co. upped their target price on Progressive from $251.00 to $256.00 and gave the company an “overweight” rating in a report on Friday, January 3rd. Finally, Barclays dropped their price target on Progressive from $277.00 to $261.00 and set an “equal weight” rating on the stock in a research note on Monday, January 6th. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Progressive has a consensus rating of “Moderate Buy” and an average price target of $275.71.

Insider Buying and Selling at Progressive

In other Progressive news, insider Lori A. Niederst sold 3,855 shares of the business’s stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $247.06, for a total value of $952,416.30. Following the completion of the sale, the insider now owns 39,040 shares of the company’s stock, valued at $9,645,222.40. The trade was a 8.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jeffrey D. Kelly sold 10,000 shares of the stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $250.00, for a total value of $2,500,000.00. Following the transaction, the director now directly owns 27,741 shares in the company, valued at approximately $6,935,250. This represents a 26.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 56,361 shares of company stock worth $13,983,575 over the last ninety days. 0.34% of the stock is currently owned by insiders.

About Progressive

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.