Compagnie Lombard Odier SCmA Acquires 55,701 Shares of The Progressive Co. (NYSE:PGR)

Compagnie Lombard Odier SCmA lifted its holdings in The Progressive Co. (NYSE:PGR) by 29.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 246,319 shares of the insurance provider’s stock after acquiring an additional 55,701 shares during the quarter. Compagnie Lombard Odier SCmA’s holdings in Progressive were worth $59,021,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in PGR. Creative Planning lifted its holdings in shares of Progressive by 14.9% in the 3rd quarter. Creative Planning now owns 70,443 shares of the insurance provider’s stock worth $17,876,000 after acquiring an additional 9,114 shares during the last quarter. Sumitomo Life Insurance Co. lifted its holdings in shares of Progressive by 2.8% in the 3rd quarter. Sumitomo Life Insurance Co. now owns 4,855 shares of the insurance provider’s stock worth $1,232,000 after acquiring an additional 131 shares during the last quarter. Amplius Wealth Advisors LLC bought a new stake in shares of Progressive in the 3rd quarter worth approximately $212,000. Cornerstone Wealth Management LLC bought a new stake in Progressive during the 3rd quarter valued at $223,000. Finally, Mezzasalma Advisors LLC raised its holdings in Progressive by 28.9% during the 3rd quarter. Mezzasalma Advisors LLC now owns 6,089 shares of the insurance provider’s stock valued at $1,545,000 after buying an additional 1,367 shares during the last quarter. 85.34% of the stock is currently owned by institutional investors.

Progressive Stock Up 2.0 %

NYSE:PGR opened at $262.02 on Friday. The firm’s 50-day moving average price is $244.79 and its 200-day moving average price is $246.64. The company has a market capitalization of $153.49 billion, a PE ratio of 18.20, a P/E/G ratio of 0.64 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 Progressive Co. has a 1-year low of $182.23 and a 1-year high of $270.62.

Progressive (NYSE:PGR) last released its earnings results on Wednesday, January 29th. The insurance provider reported $4.08 earnings per share for the quarter, topping analysts’ consensus estimates of $3.44 by $0.64. Progressive had a net margin of 11.25% and a return on equity of 33.79%. On average, equities analysts predict that The Progressive Co. will post 14.44 EPS for the current fiscal year.

Progressive Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Investors 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 0.15%. The ex-dividend date of this dividend was Friday, January 10th. Progressive’s dividend payout ratio (DPR) is 2.78%.

Wall Street Analyst Weigh In

A number of research firms recently commented on PGR. Bank of America upped their price target on shares of Progressive from $331.00 to $335.00 and gave the company a “buy” rating in a report on Monday, November 18th. TD Cowen upped their price target on shares of Progressive from $197.00 to $237.00 and gave the company a “hold” rating in a report on Friday, November 8th. Barclays lowered their price target on shares of Progressive from $277.00 to $261.00 and set an “equal weight” rating for the company in a report on Monday, January 6th. Hsbc Global Res lowered shares of Progressive from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. Finally, Wells Fargo & Company upped their price target on shares of Progressive from $302.00 to $313.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. Six analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Progressive presently has a consensus rating of “Moderate Buy” and a consensus target price of $275.71.

Insider Activity at Progressive

In related news, CFO John P. Sauerland sold 10,000 shares of the stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $238.66, for a total transaction of $2,386,600.00. Following the sale, the chief financial officer now directly owns 282,958 shares of the company’s stock, valued at approximately $67,530,756.28. This represents a 3.41 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Mariann Wojtkun Marshall sold 191 shares of the stock in a transaction dated Friday, January 3rd. The shares were 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 56,361 shares of company stock valued at $13,983,575. 0.34% of the stock is owned by insiders.

Progressive 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.