AMS Capital Ltda Has $10.19 Million Position in The Progressive Co. (NYSE:PGR)

AMS Capital Ltda raised its stake in shares of The Progressive Co. (NYSE:PGR) by 11.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,172 shares of the insurance provider’s stock after buying an additional 4,104 shares during the period. Progressive accounts for approximately 1.8% of AMS Capital Ltda’s portfolio, making the stock its 10th biggest holding. AMS Capital Ltda’s holdings in Progressive were worth $10,194,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in PGR. Vanguard Group Inc. grew its stake in Progressive by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 51,751,851 shares of the insurance provider’s stock valued at $10,703,318,000 after buying an additional 285,070 shares during the last quarter. Capital International Investors boosted its holdings in Progressive by 15.7% during the first quarter. Capital International Investors now owns 4,925,019 shares of the insurance provider’s stock valued at $1,018,592,000 after acquiring an additional 670,006 shares during the period. Legal & General Group Plc grew its position in shares of Progressive by 1.9% in the second quarter. Legal & General Group Plc now owns 4,922,743 shares of the insurance provider’s stock valued at $1,022,507,000 after purchasing an additional 92,212 shares during the last quarter. American Century Companies Inc. increased its stake in shares of Progressive by 3.0% in the second quarter. American Century Companies Inc. now owns 2,392,773 shares of the insurance provider’s stock worth $497,003,000 after purchasing an additional 69,709 shares during the period. Finally, TD Asset Management Inc lifted its position in shares of Progressive by 16.8% during the 1st quarter. TD Asset Management Inc now owns 1,698,526 shares of the insurance provider’s stock worth $351,289,000 after purchasing an additional 244,541 shares during the last quarter. Institutional investors and hedge funds own 85.34% of the company’s stock.

Insider Activity at Progressive

In other news, insider Steven Broz sold 2,981 shares of the stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $251.15, for a total transaction of $748,678.15. Following the sale, the insider now directly owns 26,353 shares of the company’s stock, valued at $6,618,555.95. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Progressive news, CEO Susan Patricia Griffith sold 43,370 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $252.20, for a total transaction of $10,937,914.00. Following the completion of the sale, the chief executive officer now directly owns 473,735 shares of the company’s stock, valued at approximately $119,475,967. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Steven Broz sold 2,981 shares of the firm’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $251.15, for a total transaction of $748,678.15. Following the completion of the transaction, the insider now directly owns 26,353 shares in the company, valued at $6,618,555.95. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 74,843 shares of company stock valued at $18,674,912 over the last ninety days. 0.34% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

PGR has been the topic of several recent analyst reports. Jefferies Financial Group lifted their price target on Progressive from $257.00 to $295.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Evercore ISI upped their target price on shares of Progressive from $243.00 to $246.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. StockNews.com lowered shares of Progressive from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. BMO Capital Markets dropped their price objective on shares of Progressive from $239.00 to $237.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. Finally, Bank of America increased their target price on shares of Progressive from $319.00 to $331.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Seven analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $263.19.

Progressive Price Performance

NYSE PGR traded down $1.14 during trading hours on Wednesday, reaching $247.11. 307,483 shares of the company’s stock were exchanged, compared to its average volume of 2,482,432. The firm has a fifty day moving average of $249.88 and a 200-day moving average of $224.79. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.30. The Progressive Co. has a one year low of $149.14 and a one year high of $260.46. The stock has a market cap of $144.72 billion, a PE ratio of 17.94, a price-to-earnings-growth ratio of 0.69 and a beta of 0.35.

Progressive Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Thursday, October 3rd were paid a $0.10 dividend. The ex-dividend date of this dividend was Thursday, October 3rd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.16%. Progressive’s dividend payout ratio (DPR) is presently 2.91%.

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.