The Progressive Co. (NYSE:PGR) Shares Bought by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky boosted its holdings in The Progressive Co. (NYSE:PGR) by 45.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 333,433 shares of the insurance provider’s stock after buying an additional 103,625 shares during the period. Progressive makes up about 0.7% of Teachers Retirement System of The State of Kentucky’s investment portfolio, making the stock its 15th largest position. Teachers Retirement System of The State of Kentucky owned 0.06% of Progressive worth $84,611,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of PGR. Davis Capital Management acquired a new position in Progressive in the third quarter valued at approximately $25,000. WR Wealth Planners LLC raised its holdings in shares of Progressive by 119.6% during the second quarter. WR Wealth Planners LLC now owns 123 shares of the insurance provider’s stock valued at $26,000 after buying an additional 67 shares during the last quarter. DiNuzzo Private Wealth Inc. boosted its position in Progressive by 114.1% during the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 137 shares of the insurance provider’s stock worth $35,000 after acquiring an additional 73 shares during the period. Kimelman & Baird LLC acquired a new position in shares of Progressive during the second quarter valued at $36,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Progressive in the 3rd quarter worth approximately $49,000. Institutional investors and hedge funds own 85.34% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Bank of America raised their target price on Progressive from $331.00 to $335.00 and gave the company a “buy” rating in a research note on Monday, November 18th. Wells Fargo & Company lifted their target price on Progressive from $281.00 to $282.00 and gave the stock an “overweight” rating in a report on Tuesday, September 10th. Jefferies Financial Group increased their price target on Progressive from $257.00 to $295.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. StockNews.com upgraded shares of Progressive from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. Finally, Morgan Stanley boosted their price target on shares of Progressive from $300.00 to $310.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Seven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $270.69.

Insider Transactions at Progressive

In other Progressive news, insider Steven Broz sold 2,982 shares of the business’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $260.00, for a total value of $775,320.00. Following the transaction, the insider now owns 29,334 shares of the company’s stock, valued at approximately $7,626,840. The trade was a 9.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO John P. Sauerland sold 10,000 shares of Progressive stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $268.09, for a total value of $2,680,900.00. Following the completion of the transaction, the chief financial officer now directly owns 292,958 shares of the company’s stock, valued at $78,539,110.22. This represents a 3.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 25,839 shares of company stock valued at $6,718,965. Company insiders own 0.34% of the company’s stock.

Progressive Stock Down 0.2 %

Shares of Progressive stock opened at $247.30 on Wednesday. The stock has a 50 day moving average price of $254.52 and a two-hundred day moving average price of $235.83. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.25. The Progressive Co. has a 12-month low of $149.14 and a 12-month high of $270.62. The stock has a market capitalization of $144.87 billion, a P/E ratio of 17.97, a PEG ratio of 0.70 and a beta of 0.38.

Progressive (NYSE:PGR) last issued its quarterly earnings results on Tuesday, October 15th. The insurance provider reported $3.58 EPS for the quarter, topping analysts’ consensus estimates of $3.40 by $0.18. Progressive had a return on equity of 33.10% and a net margin of 11.27%. The company had revenue of $19.43 billion during the quarter, compared to analyst estimates of $18.95 billion. Equities analysts expect that The Progressive Co. will post 13.2 earnings per share for the current year.

Progressive Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 16th. Investors of record on Thursday, January 9th will be paid a $0.10 dividend. The ex-dividend date is Thursday, January 9th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.16%. Progressive’s payout ratio is 2.91%.

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.