Ycg LLC Has $14.45 Million Stock Position in The Progressive Co. (NYSE:PGR)

Ycg LLC reduced its stake in shares of The Progressive Co. (NYSE:PGR) by 0.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,322 shares of the insurance provider’s stock after selling 301 shares during the period. Progressive accounts for approximately 1.1% of Ycg LLC’s portfolio, making the stock its 29th biggest holding. Ycg LLC’s holdings in Progressive were worth $14,454,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of PGR. Raymond James Financial Inc. bought a new position in Progressive during the fourth quarter valued at about $408,416,000. Geode Capital Management LLC increased its stake 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 worth $3,652,235,000 after purchasing an additional 1,682,213 shares during the period. Jennison Associates LLC increased its stake 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 worth $1,205,266,000 after purchasing an additional 842,109 shares during the period. Caisse DE Depot ET Placement DU Quebec increased its stake in shares of Progressive by 75.3% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,494,084 shares of the insurance provider’s stock worth $379,139,000 after purchasing an additional 641,943 shares during the period. Finally, Proficio Capital Partners LLC increased its stake in shares of Progressive by 36,819.8% in the fourth quarter. Proficio Capital Partners LLC now owns 568,195 shares of the insurance provider’s stock worth $136,145,000 after purchasing an additional 566,656 shares during the period. 85.34% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CFO John P. Sauerland sold 10,000 shares of the company’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $238.66, for a total value of $2,386,600.00. Following the completion of the transaction, 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 Securities & Exchange Commission, which is accessible through this link. Also, insider Andrew J. Quigg sold 681 shares of the company’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $242.10, for a total transaction of $164,870.10. Following the completion of the transaction, the insider now directly owns 33,612 shares of the company’s stock, valued at approximately $8,137,465.20. The trade was a 1.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 62,257 shares of company stock valued at $15,752,781. Company insiders own 0.34% of the company’s stock.

Progressive Stock Performance

Shares of Progressive stock opened at $277.33 on Wednesday. The firm has a fifty day moving average of $255.77 and a two-hundred day moving average of $253.33. The stock has a market capitalization of $162.57 billion, a price-to-earnings ratio of 19.26, a PEG ratio of 1.70 and a beta of 0.35. The Progressive Co. has a 52 week low of $195.57 and a 52 week high of $287.49. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.30 and a current ratio of 0.31.

Progressive (NYSE:PGR) last issued its earnings results on Wednesday, January 29th. The insurance provider reported $4.08 EPS for the quarter, beating the consensus estimate 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, equities research analysts predict that The Progressive Co. will post 14.68 EPS for the current year.

Progressive Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Thursday, April 3rd will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.14%. The ex-dividend date of this dividend is Thursday, April 3rd. Progressive’s payout ratio is presently 2.78%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Barclays lifted their price objective on Progressive from $261.00 to $264.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 18th. BMO Capital Markets dropped their price objective on Progressive from $273.00 to $267.00 and set an “outperform” rating on the stock in a research note on Monday, December 16th. Wells Fargo & Company lifted their target price on Progressive from $313.00 to $317.00 and gave the stock an “overweight” rating in a research report on Thursday, February 20th. HSBC downgraded Progressive from a “buy” rating to a “hold” rating and set a $267.00 target price on the stock. in a research report on Tuesday, December 10th. Finally, StockNews.com raised Progressive from a “hold” rating to a “buy” rating in a research report on Thursday, March 6th. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, Progressive currently has a consensus rating of “Moderate Buy” and a consensus price target of $276.59.

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.