The Progressive Co. (NYSE:PGR) Holdings Reduced by Dorsey & Whitney Trust CO LLC

Dorsey & Whitney Trust CO LLC cut its stake in The Progressive Co. (NYSE:PGR) by 8.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,900 shares of the insurance provider’s stock after selling 1,043 shares during the period. Dorsey & Whitney Trust CO LLC’s holdings in Progressive were worth $2,612,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. State Street Corp boosted its holdings in shares of Progressive by 1.3% in the third quarter. State Street Corp now owns 24,683,807 shares of the insurance provider’s stock valued at $6,263,763,000 after acquiring an additional 315,411 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Progressive by 13.2% in the third quarter. Geode Capital Management LLC now owns 14,425,792 shares of the insurance provider’s stock valued at $3,652,235,000 after acquiring an additional 1,682,213 shares in the last quarter. FMR LLC boosted its holdings in shares of Progressive by 1.6% in the third quarter. FMR LLC now owns 10,518,615 shares of the insurance provider’s stock valued at $2,669,204,000 after acquiring an additional 170,618 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Progressive by 7.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,067,924 shares of the insurance provider’s stock valued at $1,286,036,000 after acquiring an additional 330,667 shares in the last quarter. Finally, Jennison Associates LLC boosted its holdings in shares of Progressive by 21.6% in the third quarter. Jennison Associates LLC now owns 4,749,628 shares of the insurance provider’s stock valued at $1,205,266,000 after acquiring an additional 842,109 shares in the last quarter. 85.34% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on PGR shares. BMO Capital Markets decreased their price objective on shares of Progressive from $273.00 to $267.00 and set an “outperform” rating for the company in a report on Monday, December 16th. Roth Mkm raised their target price on shares of Progressive from $290.00 to $315.00 and gave the stock a “buy” rating in a report on Tuesday, February 25th. JPMorgan Chase & Co. raised their target price on shares of Progressive from $251.00 to $256.00 and gave the stock an “overweight” rating in a report on Friday, January 3rd. Keefe, Bruyette & Woods reduced their target price on shares of Progressive from $295.00 to $294.00 and set an “outperform” rating for the company in a report on Friday, January 10th. Finally, HSBC cut shares of 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. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, Progressive presently has an average rating of “Moderate Buy” and an average price target of $277.59.

Progressive Stock Down 0.5 %

Shares of NYSE:PGR opened at $279.77 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.30 and a current ratio of 0.31. The company has a market cap of $164.00 billion, a PE ratio of 19.43, a price-to-earnings-growth ratio of 1.70 and a beta of 0.35. The Progressive Co. has a 52 week low of $194.49 and a 52 week high of $287.49. The firm has a 50 day simple moving average of $254.23 and a 200 day simple moving average of $252.70.

Progressive (NYSE:PGR) last released 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 net margin of 11.25% and a return on equity of 33.79%. As a group, research analysts expect that The Progressive Co. will post 14.68 earnings per share for the current year.

Progressive Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Thursday, January 9th were given a $0.10 dividend. The ex-dividend date of this dividend was Friday, January 10th. This represents a $0.40 dividend on an annualized basis and a yield of 0.14%. Progressive’s payout ratio is 2.78%.

Insiders Place Their Bets

In other Progressive news, CFO John P. Sauerland sold 10,000 shares of the stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $279.94, for a total value of $2,799,400.00. Following the completion of the sale, the chief financial officer now owns 269,566 shares in the company, valued at $75,462,306.04. This represents a 3.58 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Lori A. Niederst sold 3,855 shares of the stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $247.06, for a total transaction of $952,416.30. Following the completion of the sale, the insider now owns 39,040 shares of the company’s stock, valued at approximately $9,645,222.40. The trade was a 8.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 56,361 shares of company stock worth $14,102,075 in the last quarter. 0.34% of the stock is currently owned by corporate 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.