United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund Takes $1.13 Million Position in The Progressive Co. (NYSE:PGR)

United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund bought a new position in The Progressive Co. (NYSE:PGR) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 4,700 shares of the insurance provider’s stock, valued at approximately $1,126,000.

Other large investors have also recently added to or reduced their stakes in the company. Versant Capital Management Inc boosted its holdings in shares of Progressive by 98.2% during the 4th quarter. Versant Capital Management Inc now owns 789 shares of the insurance provider’s stock worth $189,000 after buying an additional 391 shares during the period. Townsquare Capital LLC lifted its position in Progressive by 90.9% during the 3rd quarter. Townsquare Capital LLC now owns 7,813 shares of the insurance provider’s stock worth $1,983,000 after acquiring an additional 3,720 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted 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 valued at $1,286,036,000 after acquiring an additional 330,667 shares during the period. Assenagon Asset Management S.A. grew its position in shares of 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 valued at $103,990,000 after purchasing an additional 415,628 shares during the last quarter. Finally, Signal Advisors Wealth LLC increased its stake in shares of Progressive by 42.3% in the fourth quarter. Signal Advisors Wealth LLC now owns 11,889 shares of the insurance provider’s stock worth $2,849,000 after purchasing an additional 3,534 shares during the period. Institutional investors own 85.34% of the company’s stock.

Analyst Ratings Changes

PGR has been the topic of a number of research analyst reports. Roth Mkm raised their target price on Progressive from $290.00 to $315.00 and gave the company a “buy” rating in a report on Tuesday, February 25th. BMO Capital Markets dropped their target price on shares of Progressive from $273.00 to $267.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. Hsbc Global Res cut shares of Progressive from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Bank of America decreased their price target on shares of Progressive from $318.00 to $300.00 and set a “buy” rating on the stock in a research report on Thursday, March 20th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Progressive from $251.00 to $256.00 and gave the company an “overweight” rating in a research report on Friday, January 3rd. 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, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $281.06.

Insiders Place Their Bets

In related news, CAO Mariann Wojtkun Marshall sold 191 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $242.10, for a total value of $46,241.10. Following the completion of the transaction, the chief accounting officer now directly owns 3,982 shares of the company’s stock, 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 Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Andrew J. Quigg sold 681 shares of the business’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 sale, the insider now owns 33,612 shares in the company, valued at approximately $8,137,465.20. The trade was a 1.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 65,855 shares of company stock worth $16,767,455. Insiders own 0.34% of the company’s stock.

Progressive Stock Performance

Progressive stock opened at $274.57 on Wednesday. The business has a 50 day moving average of $263.42 and a 200-day moving average of $255.37. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.31 and a quick ratio of 0.30. The Progressive Co. has a 1 year low of $201.34 and a 1 year high of $292.99. The company has a market capitalization of $160.96 billion, a P/E ratio of 19.07, a P/E/G ratio of 1.70 and a beta of 0.35.

Progressive (NYSE:PGR) last announced its quarterly earnings results on Wednesday, January 29th. The insurance provider reported $4.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.44 by $0.64. Progressive had a net margin of 11.25% and a return on equity of 33.79%. On average, equities research analysts predict that The Progressive Co. will post 14.68 earnings per share for the current year.

Progressive Dividend Announcement

The firm also recently announced 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 of this dividend is Thursday, April 3rd. This represents a $0.40 dividend on an annualized basis and a yield of 0.15%. Progressive’s payout ratio is currently 2.78%.

Progressive 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.