Todd Asset Management LLC Sells 1,050 Shares of The Progressive Co. (NYSE:PGR)

Todd Asset Management LLC lowered its holdings in The Progressive Co. (NYSE:PGR) by 0.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 113,937 shares of the insurance provider’s stock after selling 1,050 shares during the period. Todd Asset Management LLC’s holdings in Progressive were worth $18,148,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Commonwealth Equity Services LLC boosted its stake in Progressive by 3.0% in the third quarter. Commonwealth Equity Services LLC now owns 85,155 shares of the insurance provider’s stock valued at $11,862,000 after acquiring an additional 2,452 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its position in shares of Progressive by 10.3% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 68,634 shares of the insurance provider’s stock valued at $9,561,000 after buying an additional 6,386 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its holdings in Progressive by 4.2% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 128,982 shares of the insurance provider’s stock worth $17,967,000 after acquiring an additional 5,164 shares during the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH purchased a new stake in Progressive during the third quarter valued at about $75,000. Finally, Bensler LLC increased its stake in shares of Progressive by 2.0% in the third quarter. Bensler LLC now owns 44,530 shares of the insurance provider’s stock worth $6,203,000 after purchasing an additional 892 shares in the last quarter. Institutional investors own 85.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Keefe, Bruyette & Woods lifted their price objective on shares of Progressive from $190.00 to $200.00 and gave the company a “market perform” rating in a research note on Wednesday, April 10th. Morgan Stanley boosted their price objective on Progressive from $228.00 to $247.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Roth Mkm raised their target price on Progressive from $215.00 to $235.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. HSBC upped their price target on Progressive from $174.00 to $200.00 and gave the company a “hold” rating in a research report on Thursday, March 28th. Finally, Bank of America cut their price objective on shares of Progressive from $279.00 to $273.00 and set a “buy” rating for the company in a research report on Wednesday, April 17th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Progressive has an average rating of “Hold” and an average price target of $211.88.

Insider Buying and Selling

In other news, Director Devin C. Johnson sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $208.33, for a total transaction of $208,330.00. Following the transaction, the director now directly owns 7,176 shares of the company’s stock, valued at $1,494,976.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Progressive news, Director Devin C. Johnson sold 1,000 shares of the company’s stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $208.33, for a total value of $208,330.00. Following the completion of the transaction, the director now directly owns 7,176 shares in the company, valued at approximately $1,494,976.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Karen Bailo sold 8,464 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $189.49, for a total transaction of $1,603,843.36. Following the completion of the sale, the insider now directly owns 32,342 shares of the company’s stock, valued at $6,128,485.58. The disclosure for this sale can be found here. Insiders have sold 39,139 shares of company stock valued at $7,458,139 over the last ninety days. 0.34% of the stock is owned by insiders.

Progressive Trading Down 0.1 %

Shares of PGR stock traded down $0.31 on Friday, hitting $208.72. 2,150,779 shares of the company’s stock traded hands, compared to its average volume of 2,992,636. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.31 and a current ratio of 0.36. The stock has a market capitalization of $122.25 billion, a price-to-earnings ratio of 21.36, a P/E/G ratio of 0.82 and a beta of 0.34. The company’s fifty day simple moving average is $204.30 and its 200 day simple moving average is $179.61. The Progressive Co. has a one year low of $111.41 and a one year high of $216.21.

Progressive (NYSE:PGR) last posted its quarterly earnings results on Friday, April 12th. The insurance provider reported $3.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.20 by $0.74. Progressive had a return on equity of 29.43% and a net margin of 8.89%. The business had revenue of $18.96 billion for the quarter, compared to analyst estimates of $16.88 billion. During the same period last year, the company earned $0.65 EPS. Progressive’s revenue for the quarter was up 17.7% compared to the same quarter last year. Equities analysts forecast that The Progressive Co. will post 11.34 EPS for the current year.

Progressive Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Thursday, April 4th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Wednesday, April 3rd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.19%. Progressive’s dividend payout ratio is currently 4.09%.

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.