The Progressive Co. (NYSE:PGR) Shares Acquired by JSF Financial LLC

JSF Financial LLC raised its holdings in shares of The Progressive Co. (NYSE:PGR) by 4.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,799 shares of the insurance provider’s stock after purchasing an additional 164 shares during the period. JSF Financial LLC’s holdings in Progressive were worth $910,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in PGR. Geode Capital Management LLC increased its position in shares of Progressive by 13.2% during the third quarter. Geode Capital Management LLC now owns 14,425,792 shares of the insurance provider’s stock worth $3,652,235,000 after purchasing an additional 1,682,213 shares in the last quarter. Jennison Associates LLC boosted its stake in shares of Progressive by 21.6% during the 3rd quarter. Jennison Associates LLC now owns 4,749,628 shares of the insurance provider’s stock worth $1,205,266,000 after acquiring an additional 842,109 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec raised its position in shares of Progressive by 75.3% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,494,084 shares of the insurance provider’s stock worth $379,139,000 after purchasing an additional 641,943 shares during the last quarter. International Assets Investment Management LLC raised its position in shares of Progressive by 29,701.6% during the 3rd quarter. International Assets Investment Management LLC now owns 596,331 shares of the insurance provider’s stock worth $151,325,000 after purchasing an additional 594,330 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of Progressive by 102.3% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,024,992 shares of the insurance provider’s stock worth $260,102,000 after purchasing an additional 518,262 shares during the last quarter. 85.34% of the stock is owned by institutional investors and hedge funds.

Progressive Trading Down 0.4 %

NYSE PGR opened at $249.61 on Tuesday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.30 and a current ratio of 0.31. The firm has a market cap of $146.22 billion, a PE ratio of 17.33, a P/E/G ratio of 0.64 and a beta of 0.42. The Progressive Co. has a one year low of $180.72 and a one year high of $270.62. The firm’s fifty day moving average is $245.24 and its two-hundred day moving average is $246.02.

Progressive (NYSE:PGR) last issued its earnings results on Wednesday, January 29th. The insurance provider reported $4.08 earnings per share 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%. Analysts expect that The Progressive Co. will post 14.44 earnings per share for the current year.

Progressive Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Thursday, January 9th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.16%. The ex-dividend date was Friday, January 10th. Progressive’s payout ratio is 2.78%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on PGR. Morgan Stanley upped their price target on shares of Progressive from $300.00 to $307.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. BMO Capital Markets cut their price objective on shares of Progressive from $273.00 to $267.00 and set an “outperform” rating for the company in a report on Monday, December 16th. Keefe, Bruyette & Woods cut their price objective on shares of Progressive from $295.00 to $294.00 and set an “outperform” rating for the company in a report on Friday, January 10th. Barclays cut their price objective on shares of Progressive from $277.00 to $261.00 and set an “equal weight” rating for the company in a report on Monday, January 6th. Finally, Bank of America increased their price target on shares of Progressive from $331.00 to $335.00 and gave the company a “buy” rating in a research note on Monday, November 18th. Seven investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $275.71.

Insider Buying and Selling

In related news, CEO Susan Patricia Griffith sold 11,021 shares of the business’s stock in a transaction dated Wednesday, January 22nd. The shares were 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 owns 473,736 shares of the company’s stock, valued at approximately $115,255,231.44. The trade was a 2.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO John P. Sauerland sold 10,000 shares of Progressive stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $268.09, for a total transaction of $2,680,900.00. Following the transaction, the chief financial officer now owns 292,958 shares of the company’s stock, valued at approximately $78,539,110.22. The trade was a 3.30 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 56,361 shares of company stock valued at $13,983,575. Corporate insiders own 0.34% of the company’s stock.

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.