Yousif Capital Management LLC Sells 573 Shares of The Progressive Co. (NYSE:PGR)

Yousif Capital Management LLC lowered its position in The Progressive Co. (NYSE:PGRFree Report) by 0.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 77,436 shares of the insurance provider’s stock after selling 573 shares during the quarter. Yousif Capital Management LLC’s holdings in Progressive were worth $18,554,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Paragon Capital Management Inc. bought a new position in Progressive in the fourth quarter worth approximately $1,519,000. Cassia Capital Partners LLC bought a new position in Progressive in the fourth quarter worth approximately $587,000. Ninety One UK Ltd bought a new position in Progressive in the fourth quarter worth approximately $41,645,000. Mather Group LLC. grew its stake in Progressive by 9.4% in the fourth quarter. Mather Group LLC. now owns 5,981 shares of the insurance provider’s stock worth $1,433,000 after purchasing an additional 514 shares in the last quarter. Finally, Longboard Asset Management LP bought a new position in Progressive in the fourth quarter worth approximately $261,000. Institutional investors own 85.34% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Mariann Wojtkun Marshall sold 191 shares of the firm’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $242.10, for a total transaction of $46,241.10. Following the sale, the chief accounting officer now directly owns 3,982 shares in the company, valued at $964,042.20. This trade represents a 4.58 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Andrew J. Quigg sold 681 shares of the firm’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $242.10, for a total value of $164,870.10. Following the sale, the insider now owns 33,612 shares in the company, valued at $8,137,465.20. This trade represents a 1.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 56,361 shares of company stock valued at $13,983,575. Company insiders own 0.34% of the company’s stock.

Progressive Stock Performance

Shares of PGR stock opened at $248.13 on Wednesday. The firm has a market capitalization of $145.35 billion, a price-to-earnings ratio of 17.23, a price-to-earnings-growth ratio of 0.63 and a beta of 0.42. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.31 and a quick ratio of 0.30. The business has a fifty day moving average of $246.68 and a 200 day moving average of $245.09. The Progressive Co. has a 1 year low of $179.90 and a 1 year high of $270.62.

Progressive (NYSE:PGRGet Free Report) last issued its earnings results on Wednesday, January 29th. The insurance provider reported $4.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.44 by $0.64. Progressive had a return on equity of 33.79% and a net margin of 11.25%. As a group, research analysts expect that The Progressive Co. will post 14.4 earnings per share for the current year.

Progressive Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Thursday, January 9th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.16%. The ex-dividend date of this dividend was Friday, January 10th. Progressive’s dividend payout ratio is currently 2.78%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Morgan Stanley increased their price objective on Progressive from $300.00 to $307.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. HSBC lowered Progressive from a “buy” rating to a “hold” rating and set a $267.00 target price for the company. in a report on Tuesday, December 10th. Bank of America upped their target price on Progressive from $331.00 to $335.00 and gave the stock a “buy” rating in a report on Monday, November 18th. Raymond James upgraded Progressive from a “market perform” rating to an “outperform” rating and set a $305.00 target price for the company in a report on Thursday, December 26th. Finally, JPMorgan Chase & Co. upped their target price on Progressive from $251.00 to $256.00 and gave the stock an “overweight” rating in a report on Friday, January 3rd. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, Progressive has an average rating of “Moderate Buy” and an average price target of $275.71.

Check Out Our Latest Research Report on Progressive

Progressive Company 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.

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Institutional Ownership by Quarter for Progressive (NYSE:PGR)

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