The Progressive Corporation $PGR Shares Sold by Andra AP fonden

Andra AP fonden lessened its holdings in shares of The Progressive Corporation (NYSE:PGR) by 35.9% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 72,800 shares of the insurance provider’s stock after selling 40,700 shares during the quarter. Andra AP fonden’s holdings in Progressive were worth $17,978,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Progressive by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 54,667,528 shares of the insurance provider’s stock worth $13,500,146,000 after buying an additional 151,240 shares in the last quarter. Geode Capital Management LLC lifted its stake in Progressive by 2.0% during the second quarter. Geode Capital Management LLC now owns 15,513,188 shares of the insurance provider’s stock worth $4,128,055,000 after purchasing an additional 301,371 shares during the last quarter. Alliancebernstein L.P. lifted its position in shares of Progressive by 32.8% in the 2nd quarter. Alliancebernstein L.P. now owns 10,972,574 shares of the insurance provider’s stock worth $2,928,141,000 after buying an additional 2,709,417 shares during the last quarter. Norges Bank bought a new position in shares of Progressive during the second quarter valued at approximately $2,156,939,000. Finally, Charles Schwab Investment Management Inc. increased its position in Progressive by 1.1% in the second quarter. Charles Schwab Investment Management Inc. now owns 4,129,069 shares of the insurance provider’s stock worth $1,101,883,000 after buying an additional 42,909 shares during the period. Hedge funds and other institutional investors own 85.34% of the company’s stock.

Insider Activity at Progressive

In related news, insider Andrew J. Quigg sold 1,649 shares of the firm’s stock in a transaction that occurred on Wednesday, January 21st. The shares were sold at an average price of $204.35, for a total transaction of $336,973.15. Following the completion of the sale, the insider directly owned 39,626 shares in the company, valued at approximately $8,097,573.10. This trade represents a 4.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CIO Jonathan S. Bauer sold 2,266 shares of the business’s stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $203.05, for a total transaction of $460,111.30. Following the transaction, the executive directly owned 26,250 shares in the company, valued at $5,330,062.50. The trade was a 7.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 9,103 shares of company stock valued at $1,883,924 over the last ninety days. 0.34% of the stock is owned by company insiders.

Progressive Stock Performance

Shares of Progressive stock opened at $213.11 on Friday. The Progressive Corporation has a 12 month low of $197.92 and a 12 month high of $292.99. The company has a quick ratio of 0.29, a current ratio of 0.38 and a debt-to-equity ratio of 0.23. The stock has a market cap of $124.97 billion, a PE ratio of 11.08, a price-to-earnings-growth ratio of 9.25 and a beta of 0.32. The business has a fifty day simple moving average of $210.55 and a 200-day simple moving average of $225.40.

Progressive Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 8th. Stockholders of record on Friday, January 2nd were issued a $0.10 dividend. The ex-dividend date was Friday, January 2nd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.2%. Progressive’s dividend payout ratio is currently 2.08%.

Analyst Ratings Changes

PGR has been the subject of several recent analyst reports. Evercore set a $230.00 price target on Progressive in a research note on Thursday, February 19th. Wells Fargo & Company cut their price objective on Progressive from $220.00 to $214.00 and set an “equal weight” rating for the company in a report on Thursday, February 19th. JPMorgan Chase & Co. decreased their target price on Progressive from $303.00 to $275.00 and set an “overweight” rating for the company in a research note on Wednesday, January 7th. Zacks Research upgraded shares of Progressive from a “strong sell” rating to a “hold” rating in a research report on Tuesday. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Progressive in a research report on Monday, December 29th. Six equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Progressive currently has a consensus rating of “Hold” and an average target price of $244.71.

About Progressive

Progressive Corporation is a large U.S.-based property and casualty insurer that primarily underwrites personal auto insurance along with a broad suite of related products. Its offerings include coverage for private passenger automobiles, commercial auto fleets, motorcycles, boats and recreational vehicles, as well as homeowners, renters, umbrella and other specialty P&C products. Progressive also provides claims handling, risk management and related services to individual and commercial policyholders.

The company distributes its products through a mix of direct channels—online and by phone—and an extensive independent agent network.