4,700 Shares in The Progressive Co. (NYSE:PGR) Bought by United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund

United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund acquired a new stake in The Progressive Co. (NYSE:PGR) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 4,700 shares of the insurance provider’s stock, valued at approximately $1,126,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of PGR. Atlantic Edge Private Wealth Management LLC boosted its stake in shares of Progressive by 54.7% in the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 116 shares of the insurance provider’s stock valued at $28,000 after purchasing an additional 41 shares during the period. LRI Investments LLC increased its holdings in Progressive by 16.5% during the 3rd quarter. LRI Investments LLC now owns 296 shares of the insurance provider’s stock worth $76,000 after purchasing an additional 42 shares during the last quarter. Washington Trust Bank raised its position in shares of Progressive by 4.1% in the 4th quarter. Washington Trust Bank now owns 1,066 shares of the insurance provider’s stock valued at $255,000 after purchasing an additional 42 shares in the last quarter. SYM FINANCIAL Corp boosted its stake in shares of Progressive by 2.8% during the 4th quarter. SYM FINANCIAL Corp now owns 1,602 shares of the insurance provider’s stock valued at $384,000 after buying an additional 44 shares during the last quarter. Finally, Monument Capital Management grew its position in shares of Progressive by 0.3% during the fourth quarter. Monument Capital Management now owns 13,762 shares of the insurance provider’s stock worth $3,298,000 after buying an additional 44 shares in the last quarter. Institutional investors and hedge funds own 85.34% of the company’s stock.

Insider Transactions at Progressive

In other Progressive news, CAO Carl G. Joyce sold 360 shares of the company’s stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $276.17, for a total value of $99,421.20. Following the transaction, the chief accounting officer now directly owns 655 shares of the company’s stock, valued at $180,891.35. This represents a 35.47 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Susan Patricia Griffith sold 11,021 shares of Progressive stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $243.29, for a total value 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. This represents a 2.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 65,855 shares of company stock valued at $16,767,455. 0.34% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

PGR has been the topic of a number of research analyst reports. JPMorgan Chase & Co. increased their price objective 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. StockNews.com upgraded Progressive from a “hold” rating to a “buy” rating in a research note on Saturday. Wells Fargo & Company upped their price objective on Progressive from $313.00 to $317.00 and gave the company an “overweight” rating in a research note on Thursday, February 20th. Bank of America reduced their target price on Progressive from $318.00 to $300.00 and set a “buy” rating on the stock in a report on Thursday, March 20th. Finally, Roth Mkm boosted their price target on Progressive from $290.00 to $315.00 and gave the company a “buy” rating in a report on Tuesday, February 25th. Six analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $281.06.

Progressive Stock Up 0.2 %

Shares of Progressive stock opened at $274.57 on Wednesday. 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 Progressive Co. has a 1 year low of $201.34 and a 1 year high of $292.99. The stock has a 50-day moving average price of $263.42 and a 200 day moving average price of $255.37. The company has a market cap of $160.96 billion, a P/E ratio of 19.07, a P/E/G ratio of 1.70 and a beta of 0.35.

Progressive (NYSE:PGR) last posted its quarterly earnings results on Wednesday, January 29th. The insurance provider reported $4.08 EPS for the quarter, topping 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%. As a group, analysts expect that The Progressive Co. will post 14.68 EPS for the current fiscal year.

Progressive Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Thursday, April 3rd will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.15%. The ex-dividend date of this dividend is Thursday, April 3rd. Progressive’s dividend payout ratio is currently 2.78%.

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.