The Progressive Corporation $PGR Shares Sold by APG Asset Management N.V.

APG Asset Management N.V. cut its stake in shares of The Progressive Corporation (NYSE:PGR) by 0.5% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 541,803 shares of the insurance provider’s stock after selling 2,860 shares during the period. APG Asset Management N.V. owned about 0.09% of Progressive worth $133,798,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Davis Capital Management purchased a new position in Progressive in the 3rd quarter valued at about $25,000. Atlantic Union Bankshares Corp acquired a new position in shares of Progressive during the second quarter valued at approximately $33,000. Howard Hughes Medical Institute purchased a new position in shares of Progressive in the second quarter valued at approximately $34,000. Westside Investment Management Inc. boosted its stake in shares of Progressive by 900.0% in the second quarter. Westside Investment Management Inc. now owns 130 shares of the insurance provider’s stock worth $34,000 after acquiring an additional 117 shares during the last quarter. Finally, TruNorth Capital Management LLC increased its position in shares of Progressive by 450.0% during the third quarter. TruNorth Capital Management LLC now owns 165 shares of the insurance provider’s stock worth $41,000 after purchasing an additional 135 shares in the last quarter. Institutional investors and hedge funds own 85.34% of the company’s stock.

Progressive Stock Performance

NYSE:PGR opened at $213.11 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.38 and a quick ratio of 0.29. The Progressive Corporation has a 12 month low of $197.92 and a 12 month high of $292.99. The business’s fifty day moving average price is $210.55 and its 200 day moving average price is $225.28. The firm has a market capitalization of $124.97 billion, a PE ratio of 11.08, a price-to-earnings-growth ratio of 9.34 and a beta of 0.32.

Progressive Announces Dividend

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

Insiders Place Their Bets

In other news, insider Maribel Pumarejo sold 739 shares of Progressive stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $203.25, for a total transaction of $150,201.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CIO Jonathan S. Bauer sold 2,266 shares of the company’s stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $203.05, for a total transaction of $460,111.30. Following the completion of the sale, the executive directly owned 26,250 shares in the company, valued at $5,330,062.50. This trade represents a 7.95% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 9,103 shares of company stock worth $1,883,924 in the last ninety days. 0.34% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts have weighed in on PGR shares. Roth Mkm set a $235.00 price objective on Progressive in a report on Thursday, February 19th. Wells Fargo & Company decreased their price target on shares of Progressive from $220.00 to $214.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 19th. Zacks Research raised shares of Progressive from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 24th. Keefe, Bruyette & Woods increased their price objective on shares of Progressive from $225.00 to $232.00 and gave the company a “market perform” rating in a report on Thursday, February 19th. Finally, Bank of America lowered their target price on Progressive from $350.00 to $348.00 and set a “buy” rating on the stock in a report on Tuesday, December 9th. Six research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Progressive has a consensus rating of “Hold” and a consensus price target of $244.71.

Progressive Company Profile

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.