The Progressive Corporation $PGR Shares Purchased by Caisse DE Depot ET Placement DU Quebec

Caisse DE Depot ET Placement DU Quebec boosted its position in shares of The Progressive Corporation (NYSE:PGR) by 1.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,582,012 shares of the insurance provider’s stock after purchasing an additional 28,036 shares during the period. Progressive makes up 0.9% of Caisse DE Depot ET Placement DU Quebec’s holdings, making the stock its 19th biggest holding. Caisse DE Depot ET Placement DU Quebec owned 0.27% of Progressive worth $447,725,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in PGR. Highline Wealth Partners LLC lifted its holdings in Progressive by 114.0% during the 1st quarter. Highline Wealth Partners LLC now owns 92 shares of the insurance provider’s stock worth $26,000 after buying an additional 49 shares in the last quarter. TruNorth Capital Management LLC grew its stake in Progressive by 210.0% during the 1st quarter. TruNorth Capital Management LLC now owns 93 shares of the insurance provider’s stock worth $26,000 after purchasing an additional 63 shares in the last quarter. Minot DeBlois Advisors LLC purchased a new stake in Progressive during the 4th quarter worth about $28,000. HWG Holdings LP acquired a new stake in Progressive in the 1st quarter valued at about $28,000. Finally, Garde Capital Inc. purchased a new position in shares of Progressive in the 1st quarter valued at about $33,000. 85.34% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Lori A. Niederst sold 8,063 shares of the stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $250.18, for a total value of $2,017,201.34. Following the completion of the sale, the insider owned 39,040 shares of the company’s stock, valued at $9,767,027.20. This represents a 17.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Susan Patricia Griffith sold 30,660 shares of the firm’s stock in a transaction on Monday, July 28th. The stock was sold at an average price of $242.12, for a total transaction of $7,423,399.20. Following the transaction, the chief executive officer directly owned 506,945 shares of the company’s stock, valued at approximately $122,741,523.40. This represents a 5.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 108,556 shares of company stock valued at $27,306,166. 0.34% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on PGR. UBS Group reduced their price objective on shares of Progressive from $280.00 to $268.00 and set a “neutral” rating on the stock in a report on Monday, July 21st. Wall Street Zen lowered shares of Progressive from a “buy” rating to a “hold” rating in a report on Friday, July 18th. Citigroup began coverage on shares of Progressive in a report on Wednesday, August 13th. They issued a “buy” rating and a $312.00 price objective on the stock. Evercore ISI lowered shares of Progressive from an “outperform” rating to an “in-line” rating and set a $275.00 price objective on the stock. in a report on Thursday, July 17th. Finally, Keefe, Bruyette & Woods reduced their price objective on shares of Progressive from $290.00 to $268.00 and set a “market perform” rating on the stock in a report on Thursday, July 17th. Nine investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $284.18.

Progressive Trading Down 0.0%

NYSE:PGR opened at $248.9370 on Monday. The firm has a market cap of $145.93 billion, a P/E ratio of 14.02, a PEG ratio of 1.45 and a beta of 0.33. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.21. The stock’s 50 day simple moving average is $251.40 and its 200-day simple moving average is $266.54. The Progressive Corporation has a 12-month low of $228.54 and a 12-month high of $292.99.

Progressive (NYSE:PGR) last released its earnings results on Wednesday, July 16th. The insurance provider reported $4.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.43 by $0.45. Progressive had a return on equity of 35.37% and a net margin of 12.66%.The business had revenue of $20.08 billion for the quarter, compared to analyst estimates of $20.39 billion. During the same quarter in the previous year, the company posted $2.48 earnings per share. The company’s revenue for the quarter was up 12.1% compared to the same quarter last year. Equities analysts anticipate that The Progressive Corporation will post 14.68 EPS for the current year.

Progressive Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Thursday, October 2nd will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.2%. Progressive’s dividend payout ratio is currently 2.25%.

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.