Livforsakringsbolaget Skandia Omsesidigt Has $1.05 Million Holdings in The Progressive Co. (NYSE:PGR)

Livforsakringsbolaget Skandia Omsesidigt cut its holdings in The Progressive Co. (NYSE:PGR) by 79.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,380 shares of the insurance provider’s stock after selling 17,400 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Progressive were worth $1,049,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Webster Bank N. A. acquired a new position in Progressive during the 4th quarter worth $26,000. Hager Investment Management Services LLC acquired a new stake in Progressive in the fourth quarter worth about $28,000. Valley National Advisers Inc. raised its holdings in Progressive by 3,000.0% during the 4th quarter. Valley National Advisers Inc. now owns 124 shares of the insurance provider’s stock worth $29,000 after purchasing an additional 120 shares during the last quarter. DiNuzzo Private Wealth Inc. lifted 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 valued at $35,000 after purchasing an additional 73 shares during the period. Finally, Independence Bank of Kentucky boosted its stake in shares of Progressive by 1,650.0% in the 4th quarter. Independence Bank of Kentucky now owns 175 shares of the insurance provider’s stock valued at $42,000 after purchasing an additional 165 shares during the last quarter. 85.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on PGR shares. Hsbc Global Res downgraded shares of Progressive from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. StockNews.com downgraded shares of Progressive from a “buy” rating to a “hold” rating in a report on Wednesday. BMO Capital Markets reduced their price objective on Progressive from $273.00 to $267.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. HSBC lowered shares of Progressive from a “buy” rating to a “hold” rating and set a $267.00 price target on the stock. in a research note on Tuesday, December 10th. Finally, JPMorgan Chase & Co. raised their target price on shares of Progressive from $251.00 to $256.00 and gave the company an “overweight” rating in a research note on Friday, January 3rd. Seven equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $275.71.

Progressive Trading Up 0.9 %

Shares of PGR stock opened at $251.33 on Friday. The stock has a 50 day simple moving average of $245.92 and a 200 day simple moving average of $245.32. The Progressive Co. has a 1 year low of $180.68 and a 1 year high of $270.62. The company has a current ratio of 0.31, a quick ratio of 0.30 and a debt-to-equity ratio of 0.27. The stock has a market cap of $147.23 billion, a P/E ratio of 17.45, a price-to-earnings-growth ratio of 0.63 and a beta of 0.42.

Progressive (NYSE:PGR) last issued its quarterly earnings results on Wednesday, January 29th. The insurance provider reported $4.08 EPS for the quarter, topping analysts’ consensus estimates of $3.44 by $0.64. Progressive had a return on equity of 33.79% and a net margin of 11.25%. On average, research analysts predict that The Progressive Co. will post 14.4 earnings per share for the current fiscal year.

Progressive Dividend Announcement

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

Insider Transactions at Progressive

In other Progressive news, insider Lori A. Niederst sold 3,855 shares of the company’s stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $247.06, for a total value of $952,416.30. Following the completion of the transaction, the insider now owns 39,040 shares of the company’s stock, valued at $9,645,222.40. This represents a 8.99 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jeffrey D. Kelly sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $250.00, for a total transaction of $2,500,000.00. Following the completion of the transaction, the director now owns 27,741 shares of the company’s stock, valued at approximately $6,935,250. This trade represents a 26.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 56,361 shares of company stock valued at $13,983,575. Corporate insiders own 0.34% of the company’s stock.

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.