Compagnie Lombard Odier SCmA Grows Position in The Progressive Co. (NYSE:PGR)

Compagnie Lombard Odier SCmA raised its position in shares of The Progressive Co. (NYSE:PGR) by 41.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 190,618 shares of the insurance provider’s stock after buying an additional 56,055 shares during the quarter. Compagnie Lombard Odier SCmA’s holdings in Progressive were worth $48,371,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Aviance Capital Partners LLC bought a new stake in shares of Progressive in the 1st quarter valued at approximately $3,628,000. Concurrent Investment Advisors LLC lifted its stake in shares of Progressive by 66.4% in the 1st quarter. Concurrent Investment Advisors LLC now owns 6,814 shares of the insurance provider’s stock valued at $1,409,000 after purchasing an additional 2,719 shares during the last quarter. Diversified Trust Co lifted its stake in shares of Progressive by 84.3% in the 3rd quarter. Diversified Trust Co now owns 25,738 shares of the insurance provider’s stock valued at $6,531,000 after purchasing an additional 11,770 shares during the last quarter. Banque Cantonale Vaudoise lifted its stake in shares of Progressive by 90.4% in the 1st quarter. Banque Cantonale Vaudoise now owns 21,056 shares of the insurance provider’s stock valued at $4,354,000 after purchasing an additional 10,000 shares during the last quarter. Finally, Councilmark Asset Management LLC bought a new stake in shares of Progressive in the 1st quarter valued at approximately $1,890,000. Hedge funds and other institutional investors own 85.34% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on PGR. Citigroup lowered their price objective on Progressive from $232.00 to $225.00 and set a “neutral” rating for the company in a research note on Wednesday, July 17th. Evercore ISI raised their price target on Progressive from $243.00 to $246.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Barclays initiated coverage on Progressive in a research note on Wednesday, September 4th. They set an “equal weight” rating and a $367.00 price target for the company. Bank of America raised their price target on Progressive from $309.00 to $319.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Keefe, Bruyette & Woods raised their price target on Progressive from $255.00 to $275.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 3rd. Six investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Progressive presently has a consensus rating of “Moderate Buy” and an average target price of $260.53.

Insiders Place Their Bets

In other Progressive news, insider Andrew J. Quigg sold 3,975 shares of Progressive stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $214.01, for a total transaction of $850,689.75. Following the completion of the sale, the insider now owns 32,780 shares of the company’s stock, valued at approximately $7,015,247.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider Steven Broz sold 2,982 shares of the business’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $260.00, for a total value of $775,320.00. Following the completion of the transaction, the insider now owns 29,334 shares of the company’s stock, valued at $7,626,840. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Andrew J. Quigg sold 3,975 shares of the business’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $214.01, for a total value of $850,689.75. Following the completion of the transaction, the insider now directly owns 32,780 shares of the company’s stock, valued at approximately $7,015,247.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 146,512 shares of company stock valued at $33,912,874. 0.34% of the stock is owned by company insiders.

Progressive Stock Up 0.9 %

Shares of NYSE:PGR traded up $2.31 on Friday, reaching $254.09. The company had a trading volume of 1,643,750 shares, compared to its average volume of 2,490,770. The Progressive Co. has a 52-week low of $142.87 and a 52-week high of $260.46. The firm’s 50 day simple moving average is $245.20 and its 200-day simple moving average is $222.59. The firm has a market capitalization of $148.82 billion, a PE ratio of 26.01, a PEG ratio of 0.69 and a beta of 0.35. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.30.

Progressive (NYSE:PGR) last announced its earnings results on Tuesday, July 16th. The insurance provider reported $2.65 earnings per share for the quarter, topping the consensus estimate of $2.04 by $0.61. Progressive had a return on equity of 33.01% and a net margin of 10.17%. The firm had revenue of $17.90 billion for the quarter, compared to the consensus estimate of $17.54 billion. During the same period in the previous year, the business earned $0.57 EPS. The firm’s revenue for the quarter was up 21.6% on a year-over-year basis. As a group, analysts expect that The Progressive Co. will post 13.07 earnings per share for the current fiscal year.

Progressive Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Thursday, October 3rd were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, October 3rd. This represents a $0.40 dividend on an annualized basis and a yield of 0.16%. 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.