TIAA Trust National Association Increases Stake in The Progressive Co. (NYSE:PGR)

TIAA Trust National Association increased its stake in The Progressive Co. (NYSE:PGR) by 8.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,733 shares of the insurance provider’s stock after buying an additional 627 shares during the period. TIAA Trust National Association’s holdings in Progressive were worth $1,853,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Webster Bank N. A. bought a new position in shares of Progressive in the 4th quarter worth approximately $26,000. Hager Investment Management Services LLC purchased a new stake in Progressive in the fourth quarter worth $28,000. Atlantic Edge Private Wealth Management LLC raised its holdings in Progressive by 54.7% in the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 116 shares of the insurance provider’s stock worth $28,000 after purchasing an additional 41 shares in the last quarter. Valley National Advisers Inc. boosted its holdings in shares of Progressive by 3,000.0% during the 4th quarter. Valley National Advisers Inc. now owns 124 shares of the insurance provider’s stock valued at $29,000 after buying an additional 120 shares in the last quarter. Finally, Atala Financial Inc purchased a new stake in shares of Progressive in the 4th quarter worth about $32,000. 85.34% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Andrew J. Quigg sold 681 shares of Progressive stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $242.10, for a total transaction of $164,870.10. Following the transaction, the insider now owns 33,612 shares in the company, valued at $8,137,465.20. This trade represents a 1.99 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Susan Patricia Griffith sold 9,066 shares of the business’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $242.10, for a total transaction of $2,194,878.60. Following the sale, the chief executive officer now directly owns 473,736 shares of the company’s stock, valued at approximately $114,691,485.60. The trade was a 1.88 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 66,255 shares of company stock valued at $16,877,471. 0.34% of the stock is owned by insiders.

Progressive Price Performance

Shares of PGR opened at $272.49 on Thursday. The firm has a fifty day simple moving average of $264.03 and a two-hundred day simple moving average of $255.49. The firm has a market cap of $159.74 billion, a PE ratio of 18.92, a P/E/G ratio of 1.70 and a beta of 0.35. 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.

Progressive (NYSE:PGR) last posted its quarterly earnings data on Wednesday, January 29th. The insurance provider reported $4.08 EPS for the quarter, beating 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, equities analysts anticipate that The Progressive Co. will post 14.68 EPS for the current year.

Progressive Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Thursday, April 3rd will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.15%. The ex-dividend date is Thursday, April 3rd. Progressive’s dividend payout ratio (DPR) is presently 2.78%.

Wall Street Analyst Weigh In

PGR has been the subject of a number of recent research reports. JPMorgan Chase & Co. lifted their price target on shares of Progressive from $251.00 to $256.00 and gave the company an “overweight” rating in a research report on Friday, January 3rd. Hsbc Global Res cut Progressive from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Barclays raised their price objective on Progressive from $264.00 to $285.00 and gave the company an “equal weight” rating in a research report on Thursday, March 13th. StockNews.com raised Progressive from a “hold” rating to a “buy” rating in a report on Saturday, March 22nd. Finally, HSBC downgraded Progressive from a “buy” rating to a “hold” rating and set a $267.00 price target for the company. in a report on Tuesday, December 10th. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $281.06.

Progressive Company 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.