Ossiam Sells 4,675 Shares of The Progressive Co. (NYSE:PGR)

Ossiam trimmed its holdings in shares of The Progressive Co. (NYSE:PGRFree Report) by 27.0% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 12,646 shares of the insurance provider’s stock after selling 4,675 shares during the period. Ossiam’s holdings in Progressive were worth $2,014,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Van ECK Associates Corp grew its stake in shares of Progressive by 9.1% in the third quarter. Van ECK Associates Corp now owns 18,067 shares of the insurance provider’s stock worth $2,517,000 after acquiring an additional 1,509 shares during the last quarter. HighTower Advisors LLC grew its position in Progressive by 9.0% during the 3rd quarter. HighTower Advisors LLC now owns 147,277 shares of the insurance provider’s stock valued at $20,526,000 after purchasing an additional 12,180 shares during the last quarter. Prime Capital Investment Advisors LLC increased its stake in Progressive by 28.7% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 2,247 shares of the insurance provider’s stock valued at $313,000 after purchasing an additional 501 shares in the last quarter. Deutsche Bank AG raised its holdings in Progressive by 2.9% in the third quarter. Deutsche Bank AG now owns 5,641,166 shares of the insurance provider’s stock worth $785,814,000 after buying an additional 156,332 shares during the last quarter. Finally, Ruggaard & Associates LLC grew its holdings in shares of Progressive by 6.1% during the third quarter. Ruggaard & Associates LLC now owns 1,739 shares of the insurance provider’s stock valued at $242,000 after buying an additional 100 shares during the last quarter. 85.34% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Progressive news, CFO John P. Sauerland sold 12,457 shares of the stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $204.43, for a total transaction of $2,546,584.51. Following the completion of the sale, the chief financial officer now directly owns 312,958 shares of the company’s stock, valued at approximately $63,978,003.94. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Progressive news, CFO John P. Sauerland sold 12,457 shares of the business’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $204.43, for a total value of $2,546,584.51. Following the sale, the chief financial officer now owns 312,958 shares in the company, valued at approximately $63,978,003.94. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Devin C. Johnson sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $208.33, for a total value of $208,330.00. Following the transaction, the director now owns 7,176 shares of the company’s stock, valued at approximately $1,494,976.08. The disclosure for this sale can be found here. In the last three months, insiders have sold 20,818 shares of company stock valued at $4,280,482. Corporate insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Bank of America boosted their price objective on shares of Progressive from $279.00 to $286.00 and gave the stock a “buy” rating in a report on Thursday, May 16th. Roth Mkm upped their price target on Progressive from $215.00 to $235.00 and gave the company a “buy” rating in a report on Monday, March 18th. HSBC lifted their price objective on Progressive from $174.00 to $200.00 and gave the stock a “hold” rating in a report on Thursday, March 28th. Piper Sandler restated an “overweight” rating and set a $240.00 target price on shares of Progressive in a research note on Monday, April 1st. Finally, The Goldman Sachs Group lifted their price target on shares of Progressive from $161.00 to $216.00 and gave the stock a “neutral” rating in a research note on Monday, March 25th. One analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Progressive currently has a consensus rating of “Hold” and an average target price of $215.69.

View Our Latest Research Report on PGR

Progressive Trading Down 0.3 %

NYSE:PGR opened at $212.53 on Monday. The business has a fifty day moving average price of $209.53 and a 200-day moving average price of $189.04. The Progressive Co. has a one year low of $111.41 and a one year high of $217.77. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.32 and a quick ratio of 0.32. The firm has a market capitalization of $124.48 billion, a price-to-earnings ratio of 21.75, a price-to-earnings-growth ratio of 0.81 and a beta of 0.35.

Progressive (NYSE:PGRGet Free Report) last posted its quarterly earnings results on Friday, April 12th. The insurance provider reported $3.94 earnings per share for the quarter, topping analysts’ consensus estimates of $3.20 by $0.74. Progressive had a net margin of 8.89% and a return on equity of 29.43%. The business had revenue of $18.96 billion during the quarter, compared to analyst estimates of $16.88 billion. During the same period in the prior year, the business posted $0.65 earnings per share. The company’s revenue was up 17.7% on a year-over-year basis. Sell-side analysts forecast that The Progressive Co. will post 11.64 EPS for the current year.

Progressive Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Wednesday, July 3rd will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.19%. The ex-dividend date of this dividend is Wednesday, July 3rd. Progressive’s dividend payout ratio (DPR) is presently 4.09%.

Progressive Profile

(Free Report)

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.

Read More

Want to see what other hedge funds are holding PGR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Progressive Co. (NYSE:PGRFree Report).

Institutional Ownership by Quarter for Progressive (NYSE:PGR)

Receive News & Ratings for Progressive Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Progressive and related companies with MarketBeat.com's FREE daily email newsletter.